{"id":3222,"date":"2020-06-05T14:33:29","date_gmt":"2020-06-05T09:03:29","guid":{"rendered":"http:\/\/yourcareerheights.com\/?p=3222"},"modified":"2020-06-13T13:45:49","modified_gmt":"2020-06-13T08:15:49","slug":"bank-promotions-latest-banking-updates-as-on-31-08-2018","status":"publish","type":"post","link":"https:\/\/yourcareerheights.com\/?p=3222","title":{"rendered":"Bank Promotions – Latest Banking Updates (As on 31.05.2020)"},"content":{"rendered":"
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Dear Friends,\u00a0<\/strong><\/span><\/h3>\n

\"\"<\/a>This booklet entitled \" Latest Banking Updates - Bank Promotions (Updated as of 31.05.2020)\" has been prepared with an intention to provide 'Latest Developments in Banking and Financial Sector'<\/em> for the enrichment of Bank\u2019s Staff<\/em>, the Banking knowledge and Banking Developments taking place in present day scenario, when the entire Banking Industry is facing heavy Turbulence in the form of huge NPA and mounting losses. Most of the Banks registered loss in the March 2018 with Punjab National Bank leading the list of Loss Making Banks, and only two PSB viz. Indian Bank and Vijay Bank have registered profit. <\/strong><\/span><\/h3>\n

The Consolidation of SBI and its associate Banks into SBI, Amalgation of BOB, Dena Bank and Vijay Bank into BOB and further Mega Merger of 10 PSB's into 4 PSB's has reduced the Nationalised Bank's from 27 to 12 PSB's as of today.\u00a0<\/span><\/h4>\n

The situation has been further aggravated with the COVID 19 pandemic. The Domestic as well as Global Economy has been adversely affected. RBI has estimated that GDP growth in 2020-21 to remain in negative territory, with some pick-up in growth impulses from H2: 2020-21 onwards.\u00a0<\/strong><\/span>The Banks have to face several challenges in the declining Economy and the various Economic and Relief Measures announced both by the Govt. and RBI as COVID 19 relief Packages. There is greater emphasis on increasing credit Growth.<\/span><\/h4>\n

Banks are the Back-bone of any Economy.
\n<\/strong>Banks are at the core of any economic system whether developed or developing.
\n-Essentially, a technologically advanced, transparent and efficient banking system is the need of the hour for the growing economy like India.
\n-In order to achieve the goal of faster and inclusive growth, <\/strong>it is high time the government and banking industry undertake a comprehensive relook into the existing policies and structures.<\/p>\n

Status of Banking Sector at a glance
\n<\/strong>The Indian banking system consists of 12\u00a0public sector banks <\/strong>including State Bank of India & IDBI, 40 private sector banks <\/strong>including LAB, Small Finance Bank & Payment Banks and the recent India Post Payment Bank <\/strong>launched on 1st September 2018, 45 Foreign Banks, 56 regional rural banks, 31 State Cooperative Banks,1548 urban cooperative banks and 93913 rural cooperative banks.<\/strong><\/p>\n