Public Sector Banks

17 Results

  • Cabinet approves Rs 2.11 lakh crore recapitilisation for public sector banks

    Cabinet approves Rs 2.11 lakh crore recapitilisation for public sector banks

    In a major bid to boost flagging economic growth and increase bank credit flow, the Union Cabinet on Tuesday accorded approval for a massive recapitalisation plan for state-run banks worth Rs 2.11 lakh crore. Of this amount, a sum of......

    October 24, 2017
  • Banks stare at union strike on Tuesday, services may be hit

    Banks stare at union strike on Tuesday, services may be hit

    Services at public sector banks may take a hit on Tuesday as all unions under the aegis of UFBU have threatened to go on strike against the government's proposed consolidation move besides raising a host of other demands. Most banks......

    August 20, 2017
  • Finally, Maharashtra farmers get promised aid

    Finally, Maharashtra farmers get promised aid

    Public sector banks in Maharashtra have finally started disbursing the emergency aid of Rs.10,000 - promised by the state government on June 11 - for the eligible nine million farmers, a top official said on Thursday. "The work has begun......

    July 27, 2017
  • Number of PSBs may go down to 12 as govt mulls consolidation

    Number of PSBs may go down to 12 as govt mulls consolidation

    The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said. The 21 public sector banks would get consolidated to 10- 12......

    July 16, 2017
  • RBI refuses to disclose list of loan defaulters

    RBI refuses to disclose list of loan defaulters

    The Reserve Bank of India (RBI) has refused to make public the list of loan defaulters with public sector banks despite an order of the Supreme Court in 2015 to make this information public. The case relates to an RTI......

    May 23, 2017
  • Public Sector Banks reported high rate of RTI application rejections in 2015-16

    Public Sector Banks reported high rate of RTI application rejections in 2015-16

    Ever since the Reserve Bank of India appointed JP Nayak Committee submitted a report blaming Right to Information as one of the constraints on the governance of public sector banks in May 2014, an analysis of RTI performances of 24......

    May 9, 2017
  • RBI advises PSBs to have fair system for branch auditor appointments

    RBI advises PSBs to have fair system for branch auditor appointments

    The Reserve Bank has advised public sector banks to put in place a fair and transparent mechanism for appointment of statutory branch auditors. Chartered accountants' apex body ICAI has been raising concerns over the selection process followed by public sector......

    May 7, 2017
  • Government makes top management changes in major PSBs

    Government makes top management changes in major PSBs

    The central government on Friday made major top management changes in several public sector banks (PSBs). The Appointments Committee of the Cabinet approved the proposed postings of new Managing Directors and CEOs at PSBs like Punjab National Bank (PNB), based......

    May 6, 2017
  • RBI governor Urjit Patel suggests merging public sector banks

    RBI governor Urjit Patel suggests merging public sector banks

    Reserve Bank Governor Urjit Patel says that merging public sector banks and having fewer of them would be better for the sector and also help deal with problem of non-performing assets (NPA). Do we need so many public sector banks,......

    April 25, 2017
  • Finance Ministry may seek relaxation of public float deadline for PSBs

    Finance Ministry may seek relaxation of public float deadline for PSBs

    The Finance Ministry may request capital market regulator Sebi to extend the August deadline for PSBs to meet 25 per cent public float norm as it mulls various options to pare government stake in state-run banks. There are seven public......

    April 9, 2017
  • Mallya says ready to talk to banks for one-time settlement

    Mallya says ready to talk to banks for one-time settlement

    The embattled liquor baron Vijay Mallya on Friday took to Twitter saying he is ready to negotiate with banks to pay a one-time settlement charge on Rs.9,000-crore loan default. "Public sector banks have policies for one-time settlements. Hundreds of borrowers......

    March 10, 2017
  • Nifty consolidates at 4-month highs; BoB drops 8%

    Nifty consolidates at 4-month highs; BoB drops 8%

    Broader markets started the week on a flat note on Monday as traders hesitated to extend aggressive long positions despite a modest uptick across Asia. Cautious mood prevailed in the first two hours of trade on the National Stock Exchange......

    February 13, 2017
  • Nifty consolidates at 4-month highs; BoB drops 8%

    Nifty consolidates at 4-month highs; BoB drops 8%

    Broader markets started the week on a flat note on Monday as traders hesitated to extend aggressive long positions despite a modest uptick across Asia. Cautious mood prevailed in the first two hours of trade on the National Stock Exchange......

    February 13, 2017