PSU banks to introduce home, auto loans on PSB Loans in 59 Minutes portal; move aims at expanding retail business
5 years, 4 months ago

PSU banks to introduce home, auto loans on PSB Loans in 59 Minutes portal; move aims at expanding retail business

Firstpost  

Some of the banks including SBI, Union Bank of India, and Corporation Bank decided to extend in-principle approval to loans of up to Rs 5 crore through the portal. New Delhi: Public sector banks are gearing up to introduce retail products, including housing and auto loans, on ‘psbloansin59minutes’ portal with a view to expand their retail loan business. However, some of the banks including State Bank of India, Union Bank of India, and Corporation Bank decided to extend in-principle approval to loans of up to Rs 5 crore through the portal. Another state-owned lender Indian Overseas Bank also plans to offer retail loan products on the portal.

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PSU Banks Onboard 1 Crore Account Holders on Digital Payment Modes in a Month
4 years, 3 months ago

PSU Banks Onboard 1 Crore Account Holders on Digital Payment Modes in a Month

News 18  

New Delhi: The finance ministry on Friday said that public sector banks have on-boarded about one crore customers on digital payment modes in just one month of the launch of ‘Digital Apnayen’ campaign. The campaign, aimed at encouraging customers to use digital banking channels, was launched on August 15 under the aegis of the government’s Digital India initiative. PSBs on-board …

Not wise to shift entirely towards retail loans: Basu
4 years, 4 months ago

Not wise to shift entirely towards retail loans: Basu

Live Mint  

Mumbai: Turning away from corporate loans to fully embrace the retail customer may not be a good choice for banks, State Bank of India managing director Arijit Basu said, adding lenders may preserve the existing balance in their loan portfolio. The balance of retail, wholesale, corporate, small business loans and agriculture, would broadly remain the same at least for the …

Bad loans of PSBs fall to ₹7.27 lakh crore at end of Sept 2019: Sitharaman
4 years, 11 months ago

Bad loans of PSBs fall to ₹7.27 lakh crore at end of Sept 2019: Sitharaman

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Monday said public sector banks' bad loans came down to ₹7.27 lakh crore at the end of September 2019, on host of measures taken by the government to improve financial health of the banks in the country. "The government has instituted comprehensive reforms in PSBs to improve, governance, underwriting, monitoring and recovery, and …

Finance Ministry to hold review meeting with public sector banks today to discuss various issues
5 years, 3 months ago

Finance Ministry to hold review meeting with public sector banks today to discuss various issues

Firstpost  

Finance Minister Nirmala Sitharaman will hold a review meeting with public sector banks on Thursday to discuss various issues, including follow up on transmission of monetary policy rates New Delhi: Finance Minister Nirmala Sitharaman will hold a review meeting with public sector banks on Thursday to discuss various issues, including follow up on transmission of monetary policy rates. Additionally, the …

RBI panel suggests setting up web portal for quick agri loans
5 years, 4 months ago

RBI panel suggests setting up web portal for quick agri loans

Live Mint  

Mumbai: A panel set up by the Reserve Bank of India has suggested that the Indian Banks’ Association introduce a web portal on the lines of PSB Loans in 59 Minutes to allow quicker credit access for the agriculture sector. “IBA should come out with a technology driven portal for the banks to facilitate ease of credit to the farmers …

Banks start approving retail loan proposals on ’PSB Loans in 59 Minutes’ portal
5 years, 4 months ago

Banks start approving retail loan proposals on ’PSB Loans in 59 Minutes’ portal

Live Mint  

According to a statement by PSB Loans in 59 Minutes on Thursday, applicants can now get in-principle approvals from 19 PSBs, including the State Bank of India, Punjab National Bank, Bank of Baroda and Union Bank of India. This will provide the loan aspirants quick and hassle-free access to home and personal loan whether or not they have banking and …

Govt keen on amalgamation of PSBs to create globally competitive, healthy large banks: Arun Jaitley
5 years, 10 months ago

Govt keen on amalgamation of PSBs to create globally competitive, healthy large banks: Arun Jaitley

Firstpost  

Jaitley said the NPA situation of PSU banks has improved in the last 2-3 quarters and the NDA government has ended the practice of “phone banking” New Delhi: The government is following the policy of amalgamating public sector banks to create healthy large banks which are globally competitive, finance minister Arun Jaitley said Thursday. He said the NPA situation of …

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