Pass on rate cuts, FinMin tells PSBs
The finance ministry has directed public sector banks to ensure last-mile implementation of the rate cut announced by the Reserve Bank of India (RBI) on Friday.
More than dozen PSBs announce COVID-19 emergency credit line
As many as 15 out of the total 18 PSB have announced schemes to mitigate hardshi...
Back to Basics: Taking account of financial health
The Yes Bank debacle has brought the focus back on the book-keeping practices of private l...
Maharashtra to ignore RBI note, shift funds to PSBs
“We have seen the RBI advisory. In view of the decision taken by the Cabinet a week ago, the finance department has issued an order on Wednesday. The department has directed all departments, corporations and civic bodies to not deposit their funds in the private financial institutions,’’ a top bureaucrat told
Merged PSBs to ensure no disruption to credit flow, enhanced customer experience: FinMin
The Union Cabinet had last week approved the mega bank consolidation plan under which Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank; Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank.
10 PSBs to soon turn into four mega banks, gets cabinet nod
The Cabinet has approved the consolidation of 10 public sector banks (PSBs) into four 'mega banks', Finance Minister Nirmala Sitharaman anno...
Focus on customer connect: Nirmala Sitharaman to PSBs
The EASE 3.0 reforms agenda commits the PSBs to smart, techenabled banking. Dial-a-loan for doorstep loan facilitation and digitalised branch experience are some of the elements on the agenda. Through the latest roadmap, FM spoke of the future of banking going digital and being data driven.
Cabinet nod for banking game-changer , 10 PSBs to turn into four big banks
The Narendra Modi government had announced the mega merger in August last year.
View: Interventions, a four-pronged approach, have made clean and credit-ready banks the new normal
More than animal spirits, what were needed were saintly spirits. Calibrated interventions were taken, and a four-pronged approach within a compressed timeframe enabled jettisoning the excess cargo of non-performing assets (NPAs), while sealing points of water ingress.
10 PSBs merger notice this week to create four big lenders
“We are expecting the government to notify the merger this week,” United Bank of India managing director Ashok Kumar Pradhan said. The banks will need to follow regulatory formalities to protect the interest of minority shareholders.
Govt may notify merger of 10 PSBs to 4 lenders this week
After it is notified, the respective bank boards will meet to give their customary final approval.
Merger process major challenge for PSBs in near future: SBI chief
Kumar said banks that are in the middle of the merger process need to be careful on information technology integration. "One of the challenges before public sector banks in the near future is the merger of the bank...IT merger needs to be handled very carefully," Kumar said at an event organised by Indian Banks' Association.
PSBs hit by fraud cases of Rs 1.17 lakh crore in April-December: RTI
SBI reported 4,769 cases of banking frauds worth Rs 30,300 crore during the nine-month period ended December 2019. This is about 26 per cent of the Rs 1,17,463.73 crore, which is the total amount of reported cases of banking frauds in PSBs during this period, he said.
Economic Survey 2020: PSBs need a techtonic shift
Data sciences, ML and AI could help the banks, which have more than 70% market share, to make a difference to the economy.
NPAs of PSBs stands at Rs 7.27 lakh crore
Thakur said during Question Hour that as a result of transparent recognition of stressed assets as NPAs, gross NPAs of PSBs, as per RBI data on global operations, rose from Rs 2,79,016 crore as on March 31, 2015, to Rs 6,84,732 crore as on March 31, 2017 and Rs 8,95,601 crore as on March 31, 2018.
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