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PUBLIC SECTOR BANKS NEWS

FM Nirmala Sitharaman launches EASE 4.0, reviews performance of public sector banks

August 25, 2021 3:36 pm

Ease 4.0 Launch Latest News, FM Nirmala Sitharaman Press Conference Today: Finance Minister is on a two-day visit to Mumbai where she met chiefs of public sector banks (PSBs) and undertook the annual performance review of these lenders.

FinSecy: Govt will privatise most PSBs ‘eventually’

July 14, 2021 3:18 am

He stressed on the need to push subsidy reforms and improve the quality of public expenditure. Somanathan clarified that his remarks were in his personal capacity and did not reflect the views of the government of India.

Bank credit growth slows to 5.6% in March; deposits grow faster

May 29, 2021 11:32 pm

Public sector and private sector banks recorded 3.6 per cent and 9.1 per cent credit growth, respectively, whereas lending by foreign banks declined during 2020-21, RBI data showed.

Economy in new fiscal: RBI stays with forecast, says surge won’t impact growth

March 26, 2021 7:54 am

Many parts of the country, mostly from Maharashtra, are seeing a massive surge in Covid infections, roiling the equity and bond markets. GDP growth had contracted 23.9 per cent in the June quarter of 2020-21 when Covid hit the economy hard.

Nationwide bank strike continues to impact public sector bank services on Day 2

March 16, 2021 1:59 pm

Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted.

Post IDBI Bank, other 3 PSBs may be out of PCA soon

March 13, 2021 4:51 am

The government has also indicated that it’s ready to infuse more capital into these banks to improve their financial position.

Bank strike: All you need to know about PSU bank strike today, tomorrow

March 15, 2021 8:15 am

Bank Strike on 15 and 16 March: The United Forum of Bank Unions (UFBU), which is an umbrella body of nine bank unions, has called for a two-day strike starting from March 15. This, along with two bank holidays on March 13 (second Saturday) and March 14 (Sunday) would translate to a four-day break in the regular banking operations.

Public or private? The future of banking in India and US

March 09, 2021 8:58 am

While India warms to the idea of bank privatisation, a public bank movement is in vogue in the US. Critical to both is getting the optimal mix of financial inclusion and lending.

Centre alerts banks on ‘slowdown’ in loans to street vendors

February 24, 2021 8:23 am

In a letter to public sector banks, the Ministry of Housing and Urban Affairs has noted that “sanctions and disbursements” of loans for street vendors, as part of a scheme instituted during the Covid-19 lockdown last year, have “slowed down”.

Bad loans: Govt asks PSBs to look at initiating insolvency proceedings against personal guarantors

August 27, 2020 6:42 pm

In an advisory, the Department of Financial Services has asked Public Sector Banks (PSBs) to consider putting in place a mechanism for monitoring the cases which may require initiation of individual insolvency process before the National Company Law Tribunal (NCLT) against personal guarantors to corporate debtors.

PUBLIC SECTOR BANKS PHOTOS

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

May 31, 2018 7:31 pm

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

PUBLIC SECTOR BANKS VIDEOS

Prudence lay in adhering to fiscal targets: Arun Jaitley

February 29, 2016 4:47 pm

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.