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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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

'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.

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.

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.

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.

PSBs losses may hamper ability to pay interest on bonds: Crisil

A sharp decline in profitability and mounting losses could wipe out the revenue reserves of some PSU banks and hamper their near-term ability to pay interest on the bonds issued to meet Basel III norms, Crisil Ratings said today.

4 banks looking into Jandhan account deposits: Finance Minister

4 banks looking into Jandhan account deposits: Finance Minister

 Finance Minister Arun Jaitley said 4 PSU banks are "investigating from their branches" whether money in some Jandhan accounts was deposited by account holders themselves or by business correspondents to keep the number of zero-balance accounts low.

FM Arun Jaitley to review performance of state-run banks today

FM Arun Jaitley to review performance of state-run banks today

Finance Minister Arun Jaitley is undertaking a quarterly performance review of state-run banks here on Friday not just to see the progress of various financial inclusion schemes, but also look at the overall health of the banking system, officials said.

Jan Dhan controversy may figure in FM, bankers meet tomorrow

Jan Dhan controversy may figure in FM, bankers meet tomorrow

The controversy over some bankers depositing Re 1 in Jan Dhan accounts to keep the number of zero balance account low is likely to figure at the quarterly meeting of PSU banks' heads with Finance Minister Arun Jaitley tomorrow.

PSU banks overpay at bottom, underpay at top; I too feel 'under-paid': Raghuram Rajan

PSU banks overpay at bottom, underpay at top; I too feel 'under-paid': Raghuram Rajan

SBI Chairperson Arundhati Bhattacharya got just about Rs 31.1 lakh in the fiscal year 2015-16, while private sector major HDFC Bank's MD Aditya Puri's total remuneration for the same period was more than 30-times higher at Rs 9.7 crore.

Submit plans for fund raising from market: FinMin to PSU banks

Submit plans for fund raising from market: FinMin to PSU banks

Having announced capital infusion of Rs 22,915 crore in PSU banks, the Finance Ministry has asked them to submit plans for raising resources through markets, including public offers and sale of non-core assets.