Attending the 156th SLBC meeting here, Debashis Panda, the Additional Secretary in the Union Finance Ministry asked the banks to give priority to credit disbursement in tourism, handicraft and handloom sectors which have been hit by the cyclone Fani.
The government is pushing ministries, departments and CPSEs to meet their capital expenditure in the next two quarters, as it seeks to spur economic growth which has fallen to a 25 quarter low of 5 per cent in April-June.
Public Sector Banks Merger: In what is one of the biggest mergers since the integration of SBI with five associate banks, Sitharamam announced the merger of Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and United Bank of India.
Raising the issue through a special mention, former Union Minister Jairam Ramesh (Cong) said it was former Prime Minister Indira Gandhi who on July 19, fifty years ago had nationalised 14 private sector banks.
Twenty-eight state-owned banks wrote off a total of Rs 1.14 lakh crore of bad debts between financial years 2013 and 2015 but the answer to who approves such write-offs depends on which bank you are asking. The Indian Express filed Right to Information (RTI) applications with 28 public sector banks (PSBs) and one of the […]
New Delhi, Feb 29 (ANI): Finance Minister Arun Jaitley while presenting the Union Budget 2016-17 said they were confronted with stress assets problem in public sector banks. He said that public money should reach the poor and deserving without any leakage. A bill on targeted delivery of financial services using Aadhar is also to be introduced. Jaitley also said that prudence lied in adhering to fiscal targets. He also increased allocation of Rs 1, 80,000 crores under PM MUDRA Yojana. He further added that fiscal deficit for fiscal 2016-17 have been targeted at 3.5 percent. Revenue deficit estimate for Financial Year 2015-16 has been down to 2.5 percent from earlier estimates.