These talks were part of the ‘PSB Manthan’ – the conclave of state-run banks – where PSBs were told that the Rs 2.11lakh crore recapitalisation the government has announced would depend on the reforms they undertake to clean up their books and increase lending to medium and small enterprises.
Concerned over NPAs crossing Rs 7 lakh crore, the finance ministry has asked public sector banks (PSBs) to take swift and firm action to deal with the bad loan problem, a banker said.
Statement on Developmental and Regulatory Policies – October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons
Healthy banks that lend to sound firms create a virtuous cycle of investment and jobs: Urjit Patel
Healthy banks that lend to sound firms create a virtuous cycle of investment and jobs: Urjit Patel. The government on Tuesday decided to capitalise public sector banks (PSBs) to the tune of ₹2.11-lakh crore in a frontloaded manner to support credit growth and job creation. This announcement has come at time when PSBs are capital starved and hobbled by non-performing assets.
Recruitment for bank jobs will be hit badly due to the proposed consolidation of public sector banks (PSBs), and a few banks have already put their fresh hiring plans on hold.
While PSU banks have cut MCLR the most since April 2016, when the new benchmark rate was first introduced, surprisingly foreign banks sport the lowest MCLR amongst all banks.
The Reserve Bank of India issued on August 25, 2017 ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India from select RBI offices, and some banks. Modern paper currency in India traces its origins to the late 18th century when private and…
Number of PSBs may go down to 12 as govt mulls consolidation . The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12.
Customers’ complaints about problems like cash withdrawal and exchange of old notes faced post demonetisation cannot be entertained under the Banking Ombudsman (BO) scheme, the Reserve Bank has said.
RBI Notification DNBR (PD-ARC) No. 05/ED(SS)-2017 dated April 28, 2017In exercise of the powers conferred by clause (b) of sub-section (1) of section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Reserve Bank of India hereby specifies that the Net Owned Fund (NOF) for Asset Reconstruction Companies…