Finance ministry asks public sector banks to close loss-making branches
The finance ministry has asked PSBs to discuss consolidation of overseas branches and take a final call on closing some unviable operations.
Post the merger of its five associates, State Bank of India has changed names and IFSC codes of nearly 1,300 of its branches.
In August, the Reserve Bank had asked banks to either resolve 28 more large stressed accounts by tomorrow or refer them to the NCLT by December 31.These 28 accounts together account for 40 per cent of the system wide bad loans or worth around Rs 4 trillion.
The move to bar wilful defaulters from regaining control over their companies will bring credit discipline and prevent promoters from gaming the system
Small finance banks look to tap Odisha market for growth. Entities with a small finance bank licence can provide basic banking services of accepting deposits and lending
Govt sets Rs 10,000 min balance in bank accounts as rural poverty measure. The more number of families with a minimum Rs 10,000 in their accounts, the better a panchayat’s chance of being on the positive list of the poverty index
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.
All banks to facilitate Aadhaar enrolment, update facility