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.
Tag: Finance Ministry
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…
Finance Ministry wants to introduce Contactless Cards in Banking System to expand use of cards.
The Asian Infrastructure and Investment Bank will take a 10 per cent equity stake in a ₹500-crore credit enhancement fund that seeks to raise investments in operational and stabilised infrastructure projects, a government official has said.
Central Government appointed non-executive chairpersons for three state-run banks. viz Dena Bank, Central Bank of India & Punjab & Sind Bank.
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.
The recapitalisation bonds will not be inflationary and will be cash neutral, says Department of Financial Services (DFS) Secretary Rajiv Kumar
NEW DELHI: Gross Non-performing Assets (NPAs) of banks crossed Rs 8.50 lakh crore at the end of September 2017, Minister of State for Finance Shiv Pratap Shukla informed the Lok Sabha.
A majority of companies on RBI’s second list of loan defaulters, including Monnet Power and Visa Steel, will be referred to NCLT for bankruptcy proceedings
The assets of some of the 40 top defaulters (12 in the first list and 28 in the second) are likely to be sold over the next few months as RBI and the government push lenders to speed up the resolution of Rs10 trillion of soured loans.