public sector banks

2,118 branches of 10 state-run banks closed or merged in last fiscal: RTI reply

The highest number of 1,283 branches of Bank of Baroda were either closed or merged, according to information provided to an RTI query filed by Neemuch-based activist Chandrashekhar Gaud.

May 10, 2021, 08:14 AM IST

Centre may redraw bank recapitalisation plan in wake of new challenges

The problem has been accentuated with the Reserve Bank of India now writing to the bank to meet their obligation towards interest on interest for all borrowers where exposure is over Rs 2 crore as well. This will put an additional burden of close to Rs 7,500 crore on banks.

Apr 10, 2021, 16:35 PM IST

Bank operations may be hit due to nationwide unions' strike

In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of the government's disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and has merged 14 public sector banks in the last four years.

Mar 14, 2021, 15:31 PM IST

Bank Strike: United Forum of Bank Union hold protest against privatisation of two public sector banks

10 lakh bank employees have been protesting in the country for the last one month and called for a two-day nationwide strike on March 15 -16. 

Mar 12, 2021, 23:11 PM IST

No increase in service charges on savings, Jan Dhan accounts by any public sector bank, says FinMin

The number of free cash deposits and withdrawals, have been reduced from five each per month to three each per month, with no change in the charges for transactions in excess of these free transactions.

Nov 04, 2020, 12:20 PM IST

PSBs to need capital up to Rs 2.1 trillion over next 2 years; govt support to continue: Moody's

According to Moody's, the sharp slowdown in India's economic growth, exacerbated by the virus outbreak, will hurt the asset quality of public sector banks (PSBs) and drive up credit costs.

Aug 21, 2020, 13:41 PM IST

PSBs sanction Rs 6.45 lakh crore loan during March-May

Public Sector Banks sanctioned over Rs 1.03 lakh crore as emergency credit lines & working capital enhancements in the period March 20 to May 15.

May 19, 2020, 11:31 AM IST

After Yes Bank crisis, Maharashtra shuns private banks

Instructions to the effect have been issued by Chief Minister Uddhav Thackeray to the concerned departments.

Mar 06, 2020, 14:07 PM IST

Manmohan regime left 'nasty stink of corruption' in public banking: FM Nirmala Sitharaman

She was responding to an audience members question about Rajan`s reported criticism that Prime Minister Narendra Modi`s government is "extremely centralised" and does not have a "consistent and articulated vision" for economic growth.

Oct 16, 2019, 12:47 PM IST

RBI debunks social media rumours about closure of 9 public sector banks

Finance Secretary Rajeev Kumar also rejected the reports and said that the rumours about RBI deciding to close some banks are "mischievous" and that there is "no question of closing any public sector bank".

Sep 25, 2019, 16:56 PM IST

FM Nirmala Sitharaman to meet heads of public sector banks today

The meeting assumes importance as this will be her first meeting with PSB heads after she announced amalgamation of 10 public sector banks into on August 30.

Sep 19, 2019, 10:50 AM IST

Government to infuse Rs 55,000 crore into Public Sector Banks in a week

FM Nirmala Sitharaman had announced the capital infusion of Rs 55,000 in 10 PSBs to be consolidated into 4 large Banks so that their capital base can be improved.

Sep 11, 2019, 14:47 PM IST

Centre to infuse Rs 12,000 crore in state general insurance firms

The Budget had provisioned Rs 70,000 crore for PSB recapitalisation and last week a Rs 55,250-crore infusion was announced in several PSBs for regulatory and growth requirements.

Sep 06, 2019, 14:39 PM IST

Rs 70K crore PSB infusion to push loan growth by 15%: Moody's

Announcing the capital infusion on Friday, the government also rolled back recent tax hikes on foreign and domestic equity investors in an attempt to boost market sentiment and revive the slowing economy.

Aug 26, 2019, 14:38 PM IST

Centre announces capital infusion of Rs 70,000 crore to public sector banks

The banks will pass on RBI rate cut benefits to borrowers through the MCLR reduction which will benefit all borrowers.

Aug 23, 2019, 19:42 PM IST

RBI Governor meets CEOs of Public Sector Banks, discusses plan of action, challenges in sector

During the meeting, the RBI Governor acknowledged discernible improvements in the banking sector while underscoring that several challenges still remain to be addressed, particularly with regard to the stressed asset resolution and credit flows to needy sectors. 

Jul 19, 2019, 23:26 PM IST

Gross NPAs of Public Sector Banks declined by Rs 89,189 crore in March

Gross NPAs of PSBs have declined by Rs  89,189 crore from the peak of Rs 8,95,601 crore in March 2018 to Rs 8,06,412 crore in March 2019, FM Sitharaman said.

Jun 26, 2019, 14:14 PM IST

Income Tax department to help public sector banks to recover bad loans

The directions has been issued by CBDT to all Principal Chief Commissioners of Income Tax (Principal CCIT are Zone heads).

Jun 26, 2019, 12:30 PM IST

Banks in no hurry to link repo with interest rates

Also, several PSU banks have not responded when asked if they planned to go for the external benchmark linking with repo rate.

Mar 12, 2019, 13:00 PM IST

Govt keen on amalgamation of PSBs to create globally competitive, healthy large banks: Jaitley

Since 2014-15, PSU banks have recovered Rs 2.87 lakh crore bad loans up till December 2018.

Feb 28, 2019, 16:12 PM IST