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Government should not privatize public sector banks: Jairam Ramesh

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.

Govt mulls additional Rs 30,000 cr capital infusion in PSU banks

The government had decided to take a massive step to capitalise PSBs in a front-loaded manner, with a view to support credit growth.


Losses to public sector banks to come down to Rs 50,000 crore in FY19, says report

Profits for the entire banking system are expected to start improving from the second half of this fiscal and turn positive for the whole fiscal, as most large private banks are expected to report profits, ratings agency Crisil said in its report.

High-value frauds in PSBs fell by 30 per cent in FY18: Govt

The highest incidence of frauds involving Rs 1 lakh or more was observed at SBI, the country's largest bank.

Public sector banks set to close 1/3rd of branches outside India

State Bank of India, Punjab National Bank, Indian Overseas Bank, IDBI Bank and Bank of India are among the state-owned banks leading the process of scaling down overseas operations.

From FY15 to September 2017: PSU banks write off Rs 2.4-lakh crore

The recovery rate of banks’ NPAs hit the lowest level of 20.8 per cent in 2016-17, as per the RBI.


Public-sector banks to consolidate 35 overseas operations

Banks have been told to adopt differentiated business strategy and exit from non-core businesses so that they can focus more on core competencies.

Industry cautions against lending freeze in wake of PNB fraud

Assocham Secretary General D S Rawat said while long term solutions like privatisation of banks can be sought, the need of the hour is to rally around honest bank officers and honest business entities which have built trust on each other.

Across the aisle: What happened to Indradhanush?

The scandal involving the Punjab National Bank (PNB) has revived the demand for privatisation as part of comprehensive banking sector reforms.

Rs 1,00,000 crore boost: Centre infuses cash, unveils reforms map for public banks

Banks have also been asked to ring fence the cash flow of corporate borrowers and to ensure that their earnings are not diverted for other purposes.

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Two-day bank strike: As services are hit across India, unions call it 'total success'

The two-day strike across the nation affected banking operations, and caused inconvenience to customers given it came during the month-end.

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RBI Governor Raghuram Rajan On Bad Loans

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 […]

Prudence lay in adhering to fiscal targets: Arun Jaitley

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.