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Banks need to raise own capital till June: Sources
Fri, Mar 15, 2019
In January, the government got Parliament nod for an additional Rs 41,000 crore to recapitalise public sector banks, over and above the already budgeted Rs 65,000 crore taking the total recapitalisation package for the current financial year to Rs 1,06,000 crore.
Do you own shares of these 7 PSBs? They may just have made you rich; shares surged up to 10%
Thu, Dec 27, 2018
Performance of these 7 PSBs can be attributed to a particular news. The buzz was that Union Finance Ministry is likely to go for capital infusion of about Rs 28,615 crore in these PSBs.
Public sector banks on strike today: Operations impacted across country
Wed, Dec 26, 2018
Operations at public sector banks across the country were impacted today due to a strike called by unions against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB).
Alert! For SBI, HDFC Bank, ICICI, BoB, PNB, Canara, other lenders: This service gets tax-free, this not
Sun, Dec 23, 2018
The GST council on Friday turned santa ahead of the Christmas, reducing tax rates on 23 goods and services.
Bank fundraising: Market crisis puts onus on Modi government
Fri, Oct 19, 2018
Public sector banks have raised more than double the capital infused by the government through equity and bond markets and from the sale of non-core assets between the financial years 2008-2009 and 2017-18.
Make money, invest in PSU funds; here is key
Wed, Sep 19, 2018
If the Indian economy is doing well, shares of government companies should do well, right? Wrong. If you look at the returns of thematic Public Sector Undertaking (PSU) funds or PSU shares in the last year, you will be disappointed.
How 'symbolic possession' is causing huge losses to huge losses to public sector banks
Wed, Jul 11, 2018
You will not find word "symbolic possession" in the Indian law, but this self-invented term is causing huge losses to public sector banks. It is a tool rampantly used to push away prospective buyers of defaulters' properties and helping the defaulter get the same property for a lower price.
Heads of 11-PSBs to appear before parliamentary panel on Tuesday
Sun, Jun 24, 2018
Top officials of IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank, will make presentations before the panel and respond to queries on June 26, said sources.
Will meet disinvestment targets by March 2018: Sanjeev Sanyal, Principal Economic Adviser
Tue, Jun 12, 2018
We will be able to meet the fiscal deficit target of 3.3 per cent by making certain adjustments on different fronts, Sanjeev Sanyal, Principal Economic Adviser, Ministry of Finance, told Anil Singhvi of Zee Business in an exclusive interview, adding that the public sector banks will be recapitalised after their cleansing process is completed under the prompt corrective action (PCA) framework.
Finmin not seeking relaxation of RBI's PCA framework, PSBs told to focus on core biz
Mon, May 21, 2018
Finance Minister Piyush Goyal last week met heads of 11 public sector banks (PSBs) which have been identified under the PCA to check their deteriorating financial health and promised all possible help to strengthen them.
After PNB scam, non-governmental Expert Agency to review PSBs' monthly performance
Wed, May 09, 2018
In January 2018, the government announced Rs 2.11 trillion recapitalisation plan for public sector banks, besides chalking out a comprehensive time-bound reforms agenda, EASE (Enhanced Access and Service Excellence). State-run banks were asked to seek approval from their respective boards for implementing the EASE plan.
Vinod Rai: Institutional changes depend upon the economy, model of governance
Tue, Apr 03, 2018
Constitution of BBB was recommended by the Dr PJ Nayak Committee. The Nayak committee in its recommendations asked the government to professionalise the banks. This can be achieved by keeping the Public Sector Banks at an arms distance from the government and by putting professional directors on them to run them. This thing cannot happen overnight, said Vinod Rai.
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.
Banks write off NPAs worth Rs 516 cr of 38 wilful defaulters in H1 FY18
Sun, Mar 04, 2018
Write-off in banking parlance means that the bank has made 100 per cent provision from its earning against that account
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 scam: PSBs asked to check all NPAs above Rs 50 crore for possible fraud
Tue, Feb 27, 2018
Late on Monday night, PNB informed stock exchanges that the amount of fraudulent transactions involving the Nirav Modi scam could go up by over Rs 1,300 crore. "In continuation to our filing with stock exchanges on February 14, 2018, we have to inform that quantum of reported unauthorised transactions can increase by $204.25 million," PNB said in a Bombay Stock Exchange (BSE) filing.
Arun Jaitley rules out privatisation of public sector banks
Sat, Feb 24, 2018
The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas
Public sector banks spoil Q3 earnings party on D-Street
Mon, Feb 19, 2018
Stock market investors who were expecting strong overall third-quarter earnings performance have a reason to feel disappointed.
PNB fraud: Are public sector banks heading to gallows in India?
Mon, Feb 19, 2018
By Anto T Joseph
Now, Rotomac Pen's Rs 800 crore defaulter Vikram Kothari flees country
Sun, Feb 18, 2018
Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India compromised their rules to sanction loans to Rotomac, the sources said.