Psbs

The government say PSBs employees have increased from 6.18 lakh in 2011 to 7.58 lakh, as of January 2025. Employee unions, however, say staff numbers are down and workload has zoomed

Finmin asks banks and insurance companies to expedite resolution of public grievances

The meeting, aimed to assess the quality of grievance redressal, reviewed 20 randomly selected public grievances resolved by PSBs and insurance companies to assess resolution quality, the finance ministry said in a statement.

PSBs are doing fine on efficiency, but need to improve customer experience

PSBs have improved efficiency but often lack in providing good customer experience. A big reason is inadequate number of employees to manage the huge customer base.

India needs to grow at 8% to achieve $52-trillion economy by 2047: IMF's KV Subramanian

Arvind Panagariya, chairman of the 16th Finance Commission, called for further opening of the economy and privatisation of public sector banks

India must focus on privatisation of banks, public sector enterprises: 16th Finance Commission chairman Arvind Panagariya

Government needs to get out of cycle of NPAs and recapitalisation, Panagariya said

Banks get a Rs 8,500 crore worth pot of gold from the bottom of the pyramid

Should banks alone be blamed for heavy penalties charged on non-maintenance of minimum balance? In all fairness, state-run banks have been under tremendous pressure by the government to open more accounts.

Banking Central | Why is toxic work culture on the rise in our banks?

Typically, in banks, victims do not file formal complaints fearing retribution during promotions and performance assessments. This is another reason why such cases continue to occur. Whatever the reasons, this toxic culture needs to stop.

NCLAT directs PSBs to not take coercive action against IL&FS, its board

A two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan also issued notices to the banks, along with the Reserve Bank of India (RBI), directing them to file a reply.

Chart of the Day: Share of PSBs profits in total banking sector vaults

PSBs are expected to report robust profit growth in spite of the drop in market share in loan portfolio

Relevance of Budget has diluted, markets more mature, says Sandeep Tandon

I would like to remain focused on themes like energy, PSU, metals and cement, says Founder and CIO of Quant Group.

Sitharaman vows to extend reforms, focus on IBC and PSB professionalisation

The Insolvency and Bankruptcy Code (IBC) was launched in 2016 as a one-stop solution for efficiently resolving claims regarding insolvent companies.

At least eight Indian banks set to see new chiefs in 2024

In a majority of cases, the names have been finalised, while some are still awaiting a decision. While the top level positions are being filled, there appears to be a shortage of staff in a number of banks.

PSBs wrote off Rs10.42 lakh crores of loans in last nine years, says Government

PSBs recovered an aggregate amount of Rs. 1.61 lakh crore from written-off loans.

Debate over bank privatisation rages on, but experts say it is inevitable

The chief concern is that the government’s social schemes will be hit big time if PSBs turn private. On the other hand, there is a view that private banks today also contribute to social causes and support social schemes.

PSBs profit tripled to Rs 1.04 lakh in nine years; need to continue momentum to fuel economy: FM

The FM said the Indian economy has moved away from the 'twin balance sheet problem' to 'twin balance sheet advantage'.

MC Exclusive: Auditors, public sector banks to launch balance confirmation portal

The platform, expected to start in three months, will ease the difficulties faced in auditing the accounts of companies.

Sitharaman asks PSBs to focus on risk management, diversification of deposits amid US banking crisis

During the meeting, the Union Finance Minister said that the PSBs must “look at business models closely to identify stress points, including concentration risks and adverse exposures”.

Finance Minister Nirmala Sitharaman chairs meeting with Public Sector Banks

The meeting was also attended by Minister of State for Finance Dr Bhagwat Karad, Secretary of the Department of Financial Services Vivek Joshi, and MDs and CEOs of Public Sector Banks

Government asks SBI, other PSBs to share data on bond portfolios

The directive has come ahead of the meeting between the finance ministry officials and public sector banks on March 25 to take stock of the industry growth

PSU banks' profit jumps 65% in Q3; Bank of Maharashtra tops chart with 139% surge

The Pune-headquartered lender recorded a 139 percent jump in profit to Rs 775 crore at the end of December 2022, according to quarterly results declared by the PSBs.

Gradual rather than big bang approach for banks' privatisation for better outcomes: RBI article

The article also highlighted that recent mega merger of PSBs has resulted in consolidation of the sector, creating stronger and more robust and competitive banks

Account Aggregator ecosystem gets a boost as all PSU banks go live

The participation of major PSU banks is key to the success of AA’s framework as it will open a window for a huge pool of the banks’ customers to use the framework and allow easy access to financial services

Government weighs 100% divestment from privatised PSU banks: Report

Amendments to the Banking Companies Act will look at reducing the mandatory requirement of 51 percent government holding in PSBs

FM Nirmala Sitharaman to meet PSB chiefs on April 23 to push for credit expansion

This is the first full review meeting after the presentation of Budget 2022-23. Banks would be urged to sanction loans for productive sectors to accelerate the revival of the economy, sources said.

No Cabinet decision on privatisation of two PSBs: FM Nirmala Sitharaman

In the Union Budget for financial year 2021-22, the government had announced its intent to take up privatisation of two PSBs in the year and approval of a policy of strategic disinvestment of public sector enterprises, Finance Minister Nirmala Sitharaman said in a written reply in the Rajya Sabha on Tuesday.