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Banks may set up holding cos; SPV to raise funds

Last Updated: Tuesday, May 13, 2014, 19:26

The Finance Ministry Tuesday asked PSU banks to explore the possibility of setting up holding company and Special Purpose Vehicle (SPV) to raise funds for expansion as the government may not be able to provide more than Rs 8,000 crore additional capital support this fiscal.

PSU banks to get add'l capital infusion of Rs 8,000 cr

Last Updated: Tuesday, May 13, 2014, 17:27

The government is likely to infuse additional capital of up to Rs 8,000 crore in public sector banks in the current fiscal to expand their capital base.

Chidambaram reviews performance of PSU insurance firms

Last Updated: Monday, May 12, 2014, 23:06

Finance Minister P Chidamabram Monday reviewed the annual performance of state-owned insurance companies at a meeting with heads of life as well as non-life insurance firms here.

FM to meet heads of PSU banks, financial institutions Tuesday

Last Updated: Monday, May 12, 2014, 22:34

Amidst rising bad loans, Finance Minister P Chidambaram will review financial performance of public sector banks (PSBs) on Tuesday.

FM to meet chiefs of PSU banks, insurance cos on May 12-13

Last Updated: Sunday, May 11, 2014, 12:47

In his last meeting as Finance Minister in UPA II government, P Chidamabram will hold discussions on various issues with heads of public sector insurance companies and state-owned banks on Monday and Tuesday, respectively.

CII suggests measures to improve asset quality of banks

Last Updated: Sunday, May 04, 2014, 14:48

Expressing concerns over the deteriorating asset quality of banks, industry body CII has suggested a 5-point action plan to deal with the rising non- performing assets (NPAs).

Finmin asks PSU banks to improve CASA level, focus on recovery

Last Updated: Sunday, May 04, 2014, 14:04

The Finance Ministry has asked public sector banks to step up efforts for mobilising low-cost CASA deposits and focus on recovery in a bid to improve their financial performance.

State-run banks defer fund-raising via QIP on uncertain market

Last Updated: Sunday, May 04, 2014, 13:10

Public sector banks, which delayed their qualified institutional placement (QIP) issues last year due to weak market conditions, are still not confident of the market response and say that they will wait for another few months to do so.

FinMin directs banks to deal firmly with fraud, wilful default

Last Updated: Sunday, April 27, 2014, 13:45

As part of the strategy to contain bad debts, the Finance Ministry has directed all public sector banks to accord top priority to cases of fraud and wilful default and take legal action against those responsible.

PSU banks may get additional capital infusion of Rs 7,000 cr

Last Updated: Wednesday, April 23, 2014, 20:34

To further enhance capital base, the government is planning to make additional infusion of up to Rs 7,000 crore in the public sector banks during the current fiscal.

Axis Bank to open 750 urban branches over next two years

Last Updated: Sunday, March 30, 2014, 15:20

Private sector Axis Bank has opened 250 branches in unbanked areas in FY 2014 as per the regulatory requirement, which qualifies it to launch 750 more urban branches over the next two fiscals, a top official said.

Rajan concerned about NPAs, expects situation to improve

Last Updated: Friday, March 28, 2014, 21:26

Expressing concern over rising NPAs, Reserve Bank Governor Raghuram Rajan on Friday said the situation would improve with stabilisation of the economy.