PSU banks

GST will become good and simple tax in a few months: Minister

GST will become good and simple tax in a few months: Minister

Addressing the 116th annual session of the Merchants' Chamber of Commerce and Industry in Kolkata, Minister of State for Finance Shiv Pratap Shukla  said by March, the GST will be simple enough for everyone to comprehend.

Nov 29, 2017, 18:23 PM IST
Recap plan to boost public sector bank stake sale

Recap plan to boost public sector bank stake sale

According to Assocham, once bank lending begins to pick up, there would be consequent advantages by way of higher economic growth and tax buoyancy.

Oct 29, 2017, 15:40 PM IST
Canara Bank cuts interest rate on savings bank accounts

Canara Bank cuts interest rate on savings bank accounts

However, the bank will continue to pay 4 percent interest on deposits of above Rs 50 lakh.

Sep 01, 2017, 16:08 PM IST
PSU banks take recovery action against 5,954 wilful defaulters

PSU banks take recovery action against 5,954 wilful defaulters

The country's largest lender SBI has taken action against 1,444 such defaulters with outstanding loan of Rs 20,943 crore.

Aug 27, 2017, 17:59 PM IST
'Govt ready to provide capital support for PSU banks' merger'

'Govt ready to provide capital support for PSU banks' merger'

The Union cabinet has approved the setting up of an alternative mechanism, or a panel of ministers, to decide on consolidation proposals for state-run banks.

Aug 27, 2017, 17:53 PM IST

Asia Index launches S&P BSE Bharat 22 index

Asia Index Private Ltd on Tuesday announced the launch of S&P BSE Bharat 22 Index to track the performance of select state-run companies in which the central government has divested its stake.

Aug 22, 2017, 15:08 PM IST
Vijay Mallya case: Here is the complete chronology of events

Vijay Mallya case: Here is the complete chronology of events

Following is the chronology of the events in which the Supreme Court on Tuesday held businessman Vijay Mallya guilty of contempt of court for transferring USD 40 million to his children in violation of the court's order.

May 09, 2017, 23:59 PM IST
Parliamentary panel wants banks to devise mechanism to detect NPAs early

Parliamentary panel wants banks to devise mechanism to detect NPAs early

Concerned over high level of bad loans in the banking system, a parliamentary panel has asked PSU banks to devise a mechanism to detect stressed assets early so that urgent corrective steps can be taken.

Apr 04, 2017, 16:00 PM IST
Time to bite the bullet to resolve NPA problem: Parekh

Time to bite the bullet to resolve NPA problem: Parekh

Amid a debate on need for a 'bad bank' to tackle mounting NPAs, eminent banker Deepak Parekh has said "it is time to bite the bullet" but cautioned against any such move being seen as a government bailout using the taxpayers' money.

Mar 16, 2017, 18:40 PM IST
Banking operations affected pan-India due to strike

Banking operations affected pan-India due to strike

In the first major organised protest against the government`s "anti-people banking reforms", 10 lakh bank employees and officials staged a strike on Tuesday, bringing banking operations across the country to a halt.

Feb 28, 2017, 21:05 PM IST
Bank strike likely on February 28, to hit most PSU bank services

Bank strike likely on February 28, to hit most PSU bank services

Operations at public sector banks may be hit on Tuesday as most unions under the aegis of UFBU have threatened to go on strike to press for various demands, including accountability of top executives in view of mounting bad loans in the banking sector.

Feb 26, 2017, 13:18 PM IST
Capital infusion in PSU banks after Q3 numbers

Capital infusion in PSU banks after Q3 numbers

Government will finalise the second and final tranche of capital infusion for public sector banks (PSBs) for 2016-17 once all of them have declared results for the third quarter of the current financial year, a senior Finance Ministry official said.

Feb 05, 2017, 15:36 PM IST

Merger of weak PSU banks can be a possibility: UBI CEO

Merger of weak public sector banks cannot be ruled out in a run up to meet Basel III norms, a top bank official said today.

Feb 03, 2017, 19:31 PM IST
Demonetisation: Govt limits charges on electronic fund transfer

Demonetisation: Govt limits charges on electronic fund transfer

In order to further promote digital and card payments, Finance Ministry on Wednesday directed all public sector banks(PSBs) not to charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1000, with service tax being charged at actual.

Dec 21, 2016, 16:04 PM IST

PSU banks seek higher capital infusion from government

Facing temporary disruption in business due to demonetisation, state-owned banks have sought higher capital support from the government.

Dec 20, 2016, 17:37 PM IST
Demonetisation: 27 bank officials suspended, six transferred for violative activities

Demonetisation: 27 bank officials suspended, six transferred for violative activities

According to an official statement from the Finance Ministry, 27 officials of various PSBs have been suspended and 6 officials transferred for involving in transactions violative of RBI instructions related to demonetisation.

Dec 02, 2016, 20:22 PM IST
'Govt likely to meet next financial year's 3% fiscal deficit target'

'Govt likely to meet next financial year's 3% fiscal deficit target'

Government is expected to meet its fiscal deficit target of 3 percent for the next financial year on account of additional revenue from penalty on black money and deposits under the income disclosure, says a report.

Nov 29, 2016, 14:26 PM IST

16 of 22 PSU banks skip paying dividend in FY16 on increasing NPAs

Saddled with mounting bad loans, as many as 16 public sector banks, including PNB, BoB and Canara Bank, skipped paying dividend in 2015-16, leading to three-fold decline in government receipts to Rs 1,444.6 crore.

Nov 20, 2016, 19:02 PM IST
Unsung heroes: Bank staff who work overtime to provide you with cash!

Unsung heroes: Bank staff who work overtime to provide you with cash!

While millions are struggling to deposit or exchange the demonetised currency and withdraw money from banks, it is the staff of nationalised and private banks who are facing the brunt of the government move to spike the Rs 500 and Rs 1,000 notes.

Nov 18, 2016, 17:15 PM IST
Mounting bad loans next big challenge; stage set for take effective action on NPAs: Jaitley

Mounting bad loans next big challenge; stage set for take effective action on NPAs: Jaitley

Terming the mounting bad loans as "next big challenge" for the country, Finance Minister Arun Jaitley today said banks should enforce their right and recover dues in the larger interest of the economy.

Oct 21, 2016, 19:26 PM IST