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Tag: Public Sector Banks

FM Sitharaman Announces Rs 1.1L Crore Loan Guarantee Scheme For Covid Affected Sectors
FM To Meet CEOs Of Public Sector Banks On Aug 25 To Review Financial Performance

Finance Minister Nirmala is scheduled to meet heads of public sector banks (PSBs) on August 25 to review financial performance of the lenders and progress made by them to support the economy battered by COVID-19 pandemic.

Public Sector Banks
State-Run Banks To Lend Up To Rs 5 Lakh For Covid Treatment

Public sector banks (PSB) will provide unsecured personal loans of up to Rs 5 lakh to individuals for meeting their expenses of Covid treatment.

Bank Strike
Nationwide Bank Strike Continues To Impact PSB Services On Day 2

New Delhi: Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government’s policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will […]

FM-Nirmala-Sitharaman
Keep Lending To MSMEs, But Support Other Businesses Too: FM To PSBs

New Delhi: Finance Minister Nirmala Sitharman on Tuesday held a review meeting with the Managing Directors of public sector banks (PSB) and asked them to continue reaching out and lending to MSMEs under the collateral-free Emergency Credit Line Guarantee Scheme. In the video conference, she also directed the state-run lenders to try meeting the credit […]

Banks
'Mega bank mergers working smoothly without heartburns'

Chennai: The amalgamation of 10 public sector banks into four has been working smoothly for the past two months without any heartburns as the employee benefit schemes have been extended to all the employees, said a top official of All India Bank Employees’ Association (AIBEA). The AIBEA is the largest union in the banking sector […]

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PSBs Have 33% Of Their Branches In Rural Areas: Finance Ministry

New Delhi: Finance Ministry on Monday said the total number of Public Sector Banks (PSBs) branches as on June 30, 2019, was 87,526 out of which 28,815 (33%) are in rural areas. During 2016-17, 2,168 branches and in 2017-18, 834 branches and 2018-19, 438 branches and 2019-20 (till June 30), 86 branches have been opened […]

RBI-Governor
Weak governance in PSBs resulting in high NPAs: Shaktikanta Das

Ahmedabad/New Delhi: Reserve Bank of India Governor Shaktikanta Das on Saturday called for strong corporate governance culture and accountability in public sector banks (PSBs) to check ballooning non-performing assets (NPAs). “Many of the problems that currently seem to affect the PSBs such as the elevated levels of NPA, capital shortfalls, frauds and inadequate risk management […]

Raghuram-Rajan
State-run banks should be freed of constraints: Rajan

New Delhi: Public sector banks might perform better if they are freed from some of the constraints they operate under but such freedom typically requires distance from the government, says former Reserve Bank of India governor Raghuram Rajan. He is also of the view that there is no guarantee that privatisation will be a panacea. […]

RBI guildelines on ATM free transaction
State-run banks have no plan to shut ATMs: Minister

New Delhi: The public Sector banks (PSB) have no plans to shut down 50 per cent of their ATMs in the country, Minister of State for Finance Shiv Pratap Shukla told the Lok Sabha on Friday. Concerns were raised after the Confederation of ATM Industry (CATMi) last month said that nearly 50 per cent of […]

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Banking services hit as bank unions in Odisha join nationwide strike

Bhubaneswar: Services in public sector banks across the State were today affected after employees took to streets as part of the two-day nationwide strike called by the United Forum of Bank Unions. Holding banners, staff of different government banks including State Bank of India (SBI) and Bank of India (BoI) staged demonstrations at various places […]

RBI-Governor-Urjit-Patel
RBI Governor called by parliamentary panel on May 17

New Delhi: A parliamentary panel has called RBI Governor Urjit Patel on May 17 to answer queries on banking frauds and the powers that the central bank needs for better regulation of public sector banks (PSBs). Sources said the decision was taken at a meeting of the Standing Committee on Finance, headed by Congress’ M. […]

PNB-1
PSBs to link SWIFT with Core Banking Solution by April 30

New Delhi: All public sector banks (PSBs) will have to link their SWIFT systems with their respective Core Banking Solution (CBS) systems by April 30 as a measure to prevent frauds like the recent one perpetrated on Punjab National Bank (PNB), it was announced on Thursday. The state-run banks also decided to speed up the process […]

bank-recapitalisation
Govt to infuse over Rs 88K cr in 20 public banks

New Delhi: The government today announced Rs 88,139 crore capital infusion in 20 public sector banks (PSBs) during the current fiscal, with IDBI Bank getting the most — Rs 10,610 crore. Finance Minister Arun Jaitley said his ministry had undertaken a detailed exercise on the amount of capital to be infused into the PSBs. The […]

Banks stare at union strike on Tuesday, services may be hit

New Delhi: Services at public sector banks may take a hit on Tuesday as all unions under the aegis of UFBU have threatened to go on strike against the government’s proposed consolidation move besides raising a host of other demands. Most banks have already informed their customers that functioning of branches and offices will be […]

'Aadhaar linked to 52.95 cr bank accounts'

New Delhi: The Aadhaar number has been linked to 52.95 crore savings accounts in the public sector banks, regional rural banks and private sector banks, Parliament was informed on Friday. “As per reports received from public sector banks, Regional Rural Banks and 13 private sector banks, there are 110.03 crore individual, operative savings bank accounts […]