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  • BoB, Accenture complete technology integration of former Vijaya Bank's branches Oct 19, 2020 03:11 PM IST

    BoB, Accenture complete technology integration of former Vijaya Bank's branches

    Accenture is now helping align former Dena Banks IT systems with Bank of Baroda, a joint statement said on Monday. The merger of Vijaya Bank and Dena Bank with Bank of Baroda in 2019 created the country's third largest public sector bank.

  • Banking Central | Who will save India’s public sector banks from politicians? Jul 27, 2020 12:27 PM IST

    Banking Central | Who will save India’s public sector banks from politicians?

    Unless banks are given the freedom to decide on business decisions, banking sector NPAs can’t be addressed. In a highly competitive industry, PSBs need to be given a level playing field.

  • PSBs buy Rs 14,667 crore of bonds, CPs of 67 NBFCs under credit scheme: Nirmala Sitharaman Jul 15, 2020 03:00 PM IST

    PSBs buy Rs 14,667 crore of bonds, CPs of 67 NBFCs under credit scheme: Nirmala Sitharaman

    As part of the nearly Rs 21 lakh crore special economic package amid the COVID-19 crisis, Sitharaman announced Partial Credit Guarantee Scheme (PCGS) 2.0 worth Rs 45,000 crore for non-banking financial companies (NBFCs) and micro finance institutions (MFIs).

  • PNB's purchase of Audi cars for top brass: Government tells public sector banks to defer avoidable expenditure Jun 17, 2020 09:45 PM IST

    PNB's purchase of Audi cars for top brass: Government tells public sector banks to defer avoidable expenditure

    In a detailed advisory to the heads of all public sector banks, the Department of Financial Services (DFS) said it was necessary that the banks take appropriate measures to ensure productive use of their financial resources for core business activities.

  • Do public sector bank employees deserve better pay? Jun 11, 2020 07:00 PM IST

    Do public sector bank employees deserve better pay?

    Private sector banks reward employees based on performance linked compensation models specific to individual institutions. As against this, traditionally, salary of a PSB employee is decided through negotiations between the IBA (Indian Banks Association) and trade unions negotiations once in every five years.

  • FM Nirmala Sitharaman asks public sector banks to be proactive in lending to MSMEs Jun 10, 2020 11:59 AM IST

    FM Nirmala Sitharaman asks public sector banks to be proactive in lending to MSMEs

    FM Nirmala Sitharaman was reviewing the progress of the Rs 3 lakh crore Emergency Credit Guarantee Scheme for MSMEs

  • Public sector banks sanction loans worth 6 lakh crore in two months May 12, 2020 02:35 PM IST

    Public sector banks sanction loans worth 6 lakh crore in two months

    With the lockdown coming into effect from March 25, state-owned banks opened an additional line of credit of 10 percent of the existing fund based on working capital limits, subject to a maximum of Rs 200 crore.

  • Coronavirus pandemic: To prevent NPAs, government needs to infuse specific fund related capital Apr 16, 2020 01:58 PM IST

    Coronavirus pandemic: To prevent NPAs, government needs to infuse specific fund related capital

    For credit flow to remain smooth, public-sector banks need to be recapitalised adequately or issue a promise of capital, so that the banks are able to provide for the impending surge in NPAs

  • Public sector bank unions to join January 8 general strike: Report Dec 20, 2019 04:05 PM IST

    Public sector bank unions to join January 8 general strike: Report

    Demands of the banking sector include strengthening of PSBs, more bank branches in unbaked and rural areas, no privatisation and no shutting down of bank branches.

  • India's state-run banks report frauds of over $13 bn in 6 months: FM Nirmala Sitharaman Nov 19, 2019 08:50 PM IST

    India's state-run banks report frauds of over $13 bn in 6 months: FM Nirmala Sitharaman

    Between April and September this year, as many as 5,743 cases of fraud were reported.

  • Disagree with Abhijit Banerjee's idea of privatisation of public sector banks: Jairam Ramesh Oct 23, 2019 08:20 AM IST

    Disagree with Abhijit Banerjee's idea of privatisation of public sector banks: Jairam Ramesh

    The former Union minister's remarks came after Banerjee, at a media interaction earlier in the day, termed the banking crisis in the country "frightening" and called for reduction of government stake in public sector banks to deal with the situation.

  • Loan melas | Banks disbursed Rs 81,781cr loans from October 1-9: Finance Secy Oct 14, 2019 02:48 PM IST

    Loan melas | Banks disbursed Rs 81,781cr loans from October 1-9: Finance Secy

    In order to ensure liquidity for small businesses, Sitharaman said banks have been asked to provide bill discounting facility to the MSME sector against payments due from the large corporates

  • Depositors switch to long term maturities in hunt for higher rates Oct 09, 2019 09:25 PM IST

    Depositors switch to long term maturities in hunt for higher rates

    As the rates go down, depositors tend to lock in at longer maturities in anticipation of more cuts.

  • Reporter's Take | Why average deposit rates for public sector banks are moving up Oct 09, 2019 07:34 PM IST

    Reporter's Take | Why average deposit rates for public sector banks are moving up

    Interest rates, both lending as well as deposits, are on their way down. However, a different trend is being seen in the case of PSBs.

  • Govt merges 10 banks into 4: A low-down on the mega PSB consolidation Aug 30, 2019 07:32 PM IST

    Govt merges 10 banks into 4: A low-down on the mega PSB consolidation

    The Indian banking system is dominated by public sector banks and these reforms will have an impact on the entire industry.

  • Implications of FM Sitharaman's mega bank merger plan and what brought it about Aug 30, 2019 07:07 PM IST

    Implications of FM Sitharaman's mega bank merger plan and what brought it about

    Merging weaker banks with stronger ones will erect a protective ring for depositors and shareholders.

  • Punjab National Bank to merge with OBC, United Bank to form India's 2nd largest PSB Aug 30, 2019 05:54 PM IST

    Punjab National Bank to merge with OBC, United Bank to form India's 2nd largest PSB

    The consolidated bank will have the second largest branch network in India hereafter, with 11,437 branches.

  • Modi govt may soon announce mega merger plan for public sector banks: Report Aug 30, 2019 02:44 PM IST

    Modi govt may soon announce mega merger plan for public sector banks: Report

    Chief executives of ten PSBs have been called for a meeting on August 30 by the finance ministry's department of financial services.

  • Pay gap between public and private sector bank chiefs widens Aug 26, 2019 01:19 PM IST

    Pay gap between public and private sector bank chiefs widens

    This difference in total daily remuneration has widened by about Rs 70,000 since FY17, when it was Rs 1.7 lakh. For instance, India’s largest bank, the State Bank of India (SBI) paid its chairman Rajnish Kumar Rs 8,092 per day in FY19, as compared to Rs 3.74 lakh that HDFC Bank Ltd, India’s largest private bank, paid its CEO Aditya Puri in FY19.

  • Asset quality woes may dampen investor appetite for public sector banks Aug 16, 2019 07:41 PM IST

    Asset quality woes may dampen investor appetite for public sector banks

    While Yes Bank fund raising may have helped in restoring confidence in the banking sector to some extent, the story may vary for other lenders, especially state-run banks.

  • Debt downgrades touch 3-year high, reflects economic slowdown: Report    Jul 30, 2019 01:32 PM IST

    Debt downgrades touch 3-year high, reflects economic slowdown: Report   

    This despite improvement in asset quality, with a decline in the number of non-performing assets

  • RBI Governor Shaktikanta Das asks state-run banks to follow resolution framework, speed up recovery  Jul 19, 2019 08:57 PM IST

    RBI Governor Shaktikanta Das asks state-run banks to follow resolution framework, speed up recovery 

    The governor gave "impetus to resolution of stresses assets facilitated by revised framework for resolution," the RBI said in a statement.

  • 50 years of bank nationalisation | It was more politics than economics Jul 19, 2019 03:45 PM IST

    50 years of bank nationalisation | It was more politics than economics

    Banking nationalisation continues to cast a long shadow over Indian political economy even 50 years after the fateful day it was signed into a law. Given the political realities of India, it will continue to be relevant even 50 years from now.

  • NBFC crisis may have reached a plateau; things to get better hereon, says FM Sitharaman Jul 05, 2019 08:02 PM IST

    NBFC crisis may have reached a plateau; things to get better hereon, says FM Sitharaman

    The Finance Minister said she hoped normalcy in the NBFC space would be restored in six to seven months’ time and that the RBI should see NBFCs quickly address the problems

  • Budget 2019 | FM Nirmala Sitharaman injects Rs 70,000 crore booster shot for public sector banks Jul 05, 2019 12:22 PM IST

    Budget 2019 | FM Nirmala Sitharaman injects Rs 70,000 crore booster shot for public sector banks

    The latest fund injection is part of the government’s road map to adequately bolster the state-owned banks’ capital base.

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