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Banks under PCA framework to be barred from buying retail assets of NBFCs
Fri, Jul 12, 2019
This is likely to provide the better-run NBFCs access to liquidity. The partial credit guarantee from the government would help NBFCs raise funds from PSBs, providing them urgently needed funding support .
Govt may now recapitalise PSU insurers prior to next wave of restructuring
Wed, Jul 10, 2019
The government is looking at restructuring three relatively weaker public general insurers -- National Insurance Company, United India Insurance Company and Oriental India Insurance Company.
Credit availability to MSMEs: Govt asks heads of PSBs to do analysis of the progress
Fri, Jun 28, 2019
Prime Minister Modi on November 2, 2018 launched an MSME outreach initiative to provide access to credit, access to market, technology up-gradation, ease of doing business and a sense of security for employees of MSMEs. In order to consolidate gains of the outreach campaign, the government has decided to take the initiative further.
Public sector banks have been recapitalised to the extent of Rs 3.19 lakh crore: Fin Min
Tue, Jun 25, 2019
Steps have been taken by the Government to improve the conditions of banks under it's 4R strategy of recognising non performing asset (NPA), Finance Ministry said in a statement.
Centre is likely to sell stakes in smaller public sector banks
Tue, Jun 18, 2019
The details in this regard are still being worked out and is likely to be discussed in a meeting of Union Finance Minister on June 20, said the Zee Business report.
Stressed assets: Public sector banks recover Rs 1.2 lakh cr in FY19 under IBC
Fri, May 24, 2019
Banks recovered close to Rs 55,000 crore from the NCLT resolution, the official said, adding "Compared to Rs 74,562 crore in 2017-18, the recovery in the previous financial year nearly doubled to Rs 1.2 lakh crore."
Over 6,000 officers of PSBs held responsible for bad loans: Arun Jaitley
Sat, Dec 29, 2018
Depending upon the gravity of lapses, the minister said "minor penalty/ major penalty have been imposed against erring officials" and in all the cases, depending upon the amount involved, CBI and police complaints have been lodged.
Forget mergers, NPA resolutions, banks need to be disciplined first; Frauds in India decoded
Mon, Sep 24, 2018
There are over 23,000 cases of fraud involving a chunk of above Rs 1 lakh crore, RBI told in an RTI query.
Big move by Modi govt: PM deploys these 10 men to whip Public sector banks into shape
Thu, Sep 20, 2018
The Appointments Committee of Union Cabinet headed by Prime Minister Narendra Modi has cleared the names of 10 senior executives to head as many public sector banks (PSBs). The posts were lying vacant for six to 12 months.
Parliamentary panel questions RBI on failure to take preemptive action against bad loans
Mon, Aug 27, 2018
The panel, which includes former prime minister Manmohan Singh as a member, wanted to know the reasons of ever-greening of stressed accounts through restructuring schemes of the Reserve Bank of India.
Sudden depreciation or appreciation of Rupee not good: SBI
Fri, Aug 24, 2018
Relating to GDP growth, he said as per SBI research estimates, in the first quarter it was expected to be 7.7 per cent in the first quarter and 7.5 per cent for the full fiscal.
PSBs should reduce exposure to infra sector - if not completely avoid it
Wed, Apr 04, 2018
PSBs did assist in creating much-needed infrastructure, but the question remains at what cost and whether there are better avenues to fund the infrastructure in the future. The non-performing assets (NPAs) that the PSBs hold from the infrastructure sector clearly point towards the need for alternative financing mechanisms.
Zee Business exclusive! Uday Kotak says no privatisation of PSBs will happen till 2019 elections
Wed, Mar 21, 2018
Uday Kotak, Executive Vice-Chairman and Managing Director, Kotak Mahindra Bank, said that three issues are there that give me the confidence to talk like that and they are 1) industry structure between Private and Public sector banks, 2) financial savings of people and 3) digitisation of the process involved.
Privatise public sector banks, here's why
Tue, Mar 13, 2018
11 out of 21 PSBs are under the RBI's 'prompt corrective action' plan. Banks have to recall $6 billion bail-in bonds.$207 billion in corporate bad debt are waiting to be sold in bankruptcy proceedings.
PNB fraud: SBI chief Rajnish Kumar says PSBs must improve risk infrastructure
Thu, Mar 01, 2018
PNB fraud: SBI Chairman Rajnish Kumar today said public sectors banks needs to improve their corporate and risk governance infrastructure to mitigate the challenges related to operational risk. "Public Sector Banks (PSBs) need to improve their governance infrastructure. "If there are any deficien
PNB fraud: Are public sector banks heading to gallows in India?
Mon, Feb 19, 2018
By Anto T Joseph
SBI Board to meet this week to consider fundraising
Tue, Feb 06, 2018
The bank said its Board will also consider implementation of reforms agenda for responsive and responsible public sectors banks (PSBs) of the government.
Recap to mitigate PSB risks but NPAs to impact performance: Fitch
Thu, Jan 25, 2018
Fitch said recapitalisation is "short of enabling the banks to meet higher regulatory capital burdens under Basel III in the face of persistent weak earnings.".
Rs 80,000 crore PSB recap bonds to be accompanied by more reforms: FM Jaitley
Thu, Jan 04, 2018
The Lok Sabha today gave its approval for Rs 80,000 crore recapitalisation bonds for strengthening public sector banks (PSBs), with Finance Minister Arun Jaitley promising that the fund infusion would be accompanied by a series of reforms.
Govt to infuse Rs 7,577 crore in 6 weak public sector banks
Wed, Jan 03, 2018
The funding comes under Indradhanush plan which promised Rs 70,000 crore over period of four years ending March 2019