PNB may take control of 2-3 small state-run banks. The government is seeking to consolidate the nation’s debt-burdened state banking sector.
Tag: Finance Ministry
The government on Tuesday extended the deadline to impose retaliatory import tariffs on 29 US products till June 16. The move comes as New Delhi hopes to sort out trade issues with Washington after the general elections are over and a new government is in place. The duties, which were to come into effect from…
The Finance Ministry has asked the 6 remaining PSBs, currently under PCA, to improve on 7 parameters to get the Govt’s support for coming out of the PCA framework.
Here are the key highlights from the tax changes and economy-related announcements made by Interim Finance Minister Piyush Goyal
Niti Aayog Vice-Chairman Rajiv Kumar on Tuesday said the central bank’s institutional capabilities are ‘very strong’ and it will do whatever is required for the markets and economy.
The Indian government must heed the RBI’s message on financial stability, IMF’s Chief Economist Maurice Obstfeld has said, amidst reports of friction between the central bank and the finance ministry over several issues, including how much capital the apex bank needs.
With the appointment of Shaktikanta Das as the new governor of the RBI, the top position at the central bank returns to a career bureaucrat after a gap of five years when D. Subbarao demitted office in 2013
Experts feel the measures may not have a long-term impact on rupee.The currency tumbled to a new record low of 72.91 on Wednesday, and recovered sharply from those lows to make a high of 71.52 on Friday.
Govt proposes merger of Bank of Baroda, Dena and Vijaya Bank
The merger of Bank of Baroda, Dena Bank and Vijaya Bank set to create India’s third-largest bank with a total business of more than ₹14.82 trillion.
Finance Minister Piyush Goyal unveiled ‘Project Sashakt’, a five-prong strategy to deal with non-performing assets. Sashakt aims to strengthen the credit capacity, credit culture and credit portfolio of public sector banks. What is Project Sashakt? Project Sashakt was proposed by a panel led by PNB chairman Sunil Mehta. The Five-Prong Approach is as under:- 1. Outlining SME Resolution approach for…