ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now
1 year, 9 months ago

ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now

The Hindu  

Published : Jun 02, 2023 15:59 IST - 6 MINS READ The government’s economic spokespersons have been celebrating an ostensibly remarkable recovery in the country’s public banking sector. To ensure the solvency of and capital adequacy in banks, the government had to infuse Rs.3,10,997 crore into the public banking system from 2016-17 to 2020-21. Ever since the release of the two Narasimham Committee reports on financial reform in the 1990s, it has been clear that privatisation of public banking has been a prime objective of neoliberal financial reform. The process was held back by, among others, the requirement that banks should undertake social lending on a priority basis, with attendant adverse implications for profitability; the presence of NPAs on public bank balance sheets; and the government’s fear that the dampening effect of these factors on the market value of PSB equity would disproportionately affect the price at which they could be sold. This contradiction between the neoliberal aim of privatising public banking and using public banks as instruments to redirect national savings to favour corporate investment in capital intensive areas, especially investment by a chosen few “crony capitalists”, makes privatisation a difficult ask even for the neoliberal state.

Banking Profit Public Sector Banks Crore Public 5 Per Cent Losses Npas Privatisation Sector Banks Public Banks Financial Reform Banking Privatisation Neoliberal Psbs Public Banking  sector  banks  lakh  economic  neoliberal  public  turn  crore  losses  perspectives  banking  profit  privatisation  cards  dilemma  npas  psbs

History of this topic

Indian banks’ profitability improves for six straight years, NPAs decline to 13-year low: RBI report
3 months ago

Indian banks’ profitability improves for six straight years, NPAs decline to 13-year low: RBI report

Live Mint  

The profitability of banks improved for the sixth consecutive year in 2023-24 and their gross bad debts or non-performing assets declined to a 13-year low of 2.7 per cent. "Banks’ profitability rose for the sixth consecutive year in 2023-24 and continued to rise in H1:2024-25 with the return on assets at 1.4 per cent and return on equity at 14.6 …

'Can’t let big biz into banking yet,' says banker Kundapur Vaman Kamath
3 months, 1 week ago

'Can’t let big biz into banking yet,' says banker Kundapur Vaman Kamath

New Indian Express  

MUMBAI: Kundapur Vaman Kamath, the veteran banker who led the rapid growth of ICICI Bank and helmed it for nearly two decades from its inception and make the largest private sector lender within few years, has spoken against allowing corporate houses into banking space, saying the regulator has to be satisfied that they will not misuse public deposits through the …

Public sector banks beat private peers in net profit growth in Q2 amid sharp fall in provisions: SBI Report
4 months, 2 weeks ago

Public sector banks beat private peers in net profit growth in Q2 amid sharp fall in provisions: SBI Report

Live Mint  

Public sector banks in India have posted significantly higher net profit growth compared to their private counterparts in the second quarter of FY25, according to a recent report by the State Bank of India. Public banks collectively achieved a 39.3 per cent year-over-year increase in net profit, a substantial lead over the 7.1 per cent growth posted by private sector …

Nirmala Sitharaman praises PSBs, says 'profit tripled to Rs 1.04 lakh in nine years'
1 year, 8 months ago

Nirmala Sitharaman praises PSBs, says 'profit tripled to Rs 1.04 lakh in nine years'

India TV News  

Finance Minister Nirmala Sitharaman stated on Saturday that the profit of public sector banks has tripled to Rs 1.04 lakh crore over the past nine years as a result of government initiatives. Public sector banks net profit nearly tripled from Rs 36,270 crore in FY2014 to Rs 1.04 lakh crore in FY23. They should follow best corporate governance practices, adhere …

Privatisation Of Banks To Go Forward As Per Schedule: Finance Minister Nirmala Sitharaman
1 year, 9 months ago

Privatisation Of Banks To Go Forward As Per Schedule: Finance Minister Nirmala Sitharaman

ABP News  

Union Finance Minister Nirmala Sitharaman on Monday said the privatisation of public sector banks will go ahead as planned. The minister, while addressing the media on the occasion of the Narendra Modi government completing nine years in power, in Mumbai said, "About the bank privatisation, they will go on as per schedule. "Other than IDBI Bank, we propose to take …

Inside Bank of Baroda’s silent transformation
1 year, 11 months ago

Inside Bank of Baroda’s silent transformation

Live Mint  

In the last week of September 2021, Mukund Rajan, the former chief ethics officer at the Tata Group, showed a bunch of Bank of Baroda executives a video clip from the 26/11 terror attacks in Mumbai. Led by Sanjiv Chadha, the bank’s current managing director and chief executive officer, the lender is on a mission to reinvent itself by adding …

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?
2 years, 2 months ago

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?

The Hindu  

Published : Jan 26, 2023 10:25 IST The semi-annual Financial Stability Report from the Reserve Bank of India signals that the country’s banking system, especially the public banking system, has put behind it the stress from disturbingly high non-performing or bad loans on its books. The asset quality review resulted in an increase in the volume of recorded gross NPAs …

IDBI Bank sell-off can set the stage for selling public-sector banks
2 years, 2 months ago

IDBI Bank sell-off can set the stage for selling public-sector banks

Live Mint  

Tuhin Kanta Pandey, secretary of the department of investment and public asset management, while speaking to Business Standard, recently said that the Indian government intended to exit IDBI Bank completely, as it was not in the business of commercial banking. The stock market doesn’t give a valuation to government-owned or public sector banks that’s close to what it gives large …

Unfinished agenda: Long-standing debate on privatisation of state-run banks resurfaces
2 years, 6 months ago

Unfinished agenda: Long-standing debate on privatisation of state-run banks resurfaces

The Hindu  

Published : Sep 08, 2022 11:00 IST The long-standing debate on whether India’s public sector banks should be privatised has resurfaced in recent days. Referring to a core theme in the article by Gupta and Panagariya, the RBI researchers argued that while on pure profitability grounds private banks in India appear more efficient than public ones, public banks turn out …

RBI Issues Clarification On PSB Privatisation Report, Says Bulletin Article Doesn't Represent Its View
2 years, 7 months ago

RBI Issues Clarification On PSB Privatisation Report, Says Bulletin Article Doesn't Represent Its View

ABP News  

The Reserve Bank of India on Friday clarified issued a clarification saying that the views expressed in its recent article, ‘Privatisation of Public Sector Banks: An Alternate Perspective’, do not represent the views of the central bank and are of the authors. The article appeared in the monthly bulletin arguing against a big bang approach to public sector banks privatisation. …

RBI Bulletin: Big bang Approach To PSB Privatisation May Do More Harm Than Good
2 years, 7 months ago

RBI Bulletin: Big bang Approach To PSB Privatisation May Do More Harm Than Good

ABP News  

A big bang approach to privatisation of state-run banks may do more harm than good, according to the latest Reserve Bank of India bulletin released on Thursday. The RBI’s paper showed some of the major reasons that public sector banks can serve the country better than private banks include better financial inclusion, better credit system, and better efficiency of the …

Fact Check: No, the Centre is NOT privatising all public sector banks except SBI!
2 years, 7 months ago

Fact Check: No, the Centre is NOT privatising all public sector banks except SBI!

India Today  

Ever since Finance Minister Nirmala Sitharaman proposed to take up the privatisation of two public sector banks in her Budget speech for the fiscal year 2021-22, the issue has been widely debated. AFWA PROBE While investigating the claim, we found a report by The Times of India from July 12, according to which, a policy paper of the Indian Policy …

Five steps to fix PSB divestment
3 years, 7 months ago

Five steps to fix PSB divestment

Live Mint  

A parliamentary panel report observed recently that stress in India’s banking sector is transient and a transfer of public sector bank stressed assets to a bad bank will lead them to normalcy, and therefore argued against PSB divestment. Given the complexities involved, it has wisely chosen to focus first on IDBI Bank’s stake divestment to test the waters, which helps …

Bank Privatisation: Central Bank of India, Indian Overseas Bank May Be Privatized This Fiscal
3 years, 9 months ago

Bank Privatisation: Central Bank of India, Indian Overseas Bank May Be Privatized This Fiscal

News 18  

The Centre could privatise the two-state run banks — Central Bank of India and Indian Overseas Bank soon, according to report by Times of India. NITI Ayog, the government think-tank has recently submitted a report to the core group of secretaries on Disinvestment mentioning the names of the two banks the would be privatised this fiscal, news agency PTI mentioned. …

Budget 2021: A push to privatise India
4 years, 1 month ago

Budget 2021: A push to privatise India

India Today  

Budget 2021-22 makes a concerted push toward getting the government out of commercial sectors, a move in line with the Narendra Modi government’s stated agenda of minimum government. On this count, finance minister Nirmala Sitharaman has budgeted for revenues of Rs 1.75 lakh crore from stake sales of public sector companies, including two public sector banks and one insurance company. …

Union Budget 2021: Sitharaman defends privatisation of PSBs in interview with News18, says India needs more efficient banks
4 years, 1 month ago

Union Budget 2021: Sitharaman defends privatisation of PSBs in interview with News18, says India needs more efficient banks

Firstpost  

In an exclusive interview to CNN-News18’s Rahul Joshi after unveiling the Union Budget 2021 on Monday, Union minister Nirmala Sitharaman weighed in on the key takeaways from the budiget and defended the Centre’s push for disinvestment, including two public sector banks. Speaking to Network18 Group Editor Rahul Joshi, Sitharaman said that the Centre is looking at setting up a holding …

Engaging With RBI on Privatisation of Govt-Run Banks in Big Way, Can't Have Laggards: Nirmala Sitharaman
4 years, 1 month ago

Engaging With RBI on Privatisation of Govt-Run Banks in Big Way, Can't Have Laggards: Nirmala Sitharaman

News 18  

Finance minister Nirmala Sitharaman on Monday told the News18 Network that the government had engaged with the Reserve Bank of India in a “big way” as she outlined a timeline for meeting divestment targets set in her Budget 2021 speech. Speaking to News18 Network’s Editor-in-Chief Rahul Joshi, the finance minister said that the country needs efficient banks for the economy …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
4 years, 1 month ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18  

With the Union Budget due to be presented on Monday, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross …

Economic Survey 2021: Under-Capitalisation of Banks Will Hamper Economic Growth in Long Run
4 years, 1 month ago

Economic Survey 2021: Under-Capitalisation of Banks Will Hamper Economic Growth in Long Run

News 18  

The Economic Survey 2021, released on January 29 ahead of the Union Budget 2021, has called for adequate capitalisation of public sector banks flagging fears of lenders resorting to risk-shifting, which will, in turn, impact the economy which has just begun its upward rise months after the crippling impact of the Covid-19 pandemic. Public sector banks account for 60 per …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
4 years, 1 month ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18  

With the Union Budget less than a week away, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross non-performing …

India considers creating bank with $13.7 billion equity capital to fund roads
4 years, 2 months ago

India considers creating bank with $13.7 billion equity capital to fund roads

Hindustan Times  

India is considering a proposal to create a bank to help fund port, road and power projects as Prime Minister Narendra Modi’s administration aims to lift Asia’s third-largest economy out of the recession. India faces the challenge of boosting spending on productive assets that aid economic growth after being forced to direct the bulk of stimulus last year on the …

Should our manufacturers be allowed to set up banks?
4 years, 4 months ago

Should our manufacturers be allowed to set up banks?

Live Mint  

The Reserve Bank of India working paper which recommends that manufacturing groups and business houses be allowed bank licences, while mapping global norms against this and disclosing that all but one of the experts consulted were against this, has generated plenty of heat. Public sector banks have eroded their capital through a mix of poor lending decisions and politically-nudged free …

The battle to save banks
4 years, 6 months ago

The battle to save banks

India Today  

The battle for saving banks has been a long drawn one. Speaking at the seventh SBI Banking and Economics Conclave in July, RBI governor Shaktikanta Das said: “The economic impact of the pandemic due to the lockdown and the anticipated post-lockdown compression in economic growth may result in higher NPAs and capital erosion of banks. A recapitalisation plan for PSBs …

Rajan, Acharya may be off mark: PSU banks need strategy and focus to survive, not privatisation as remedy
4 years, 6 months ago

Rajan, Acharya may be off mark: PSU banks need strategy and focus to survive, not privatisation as remedy

Firstpost  

The PSU banks’ problem is often linked to India’s burgeoning fiscal deficit that needs control because pumping taxpayer money into state-run banks is fraught with risks. It is interesting that two of India’s biggest brand-name economists, former Reserve Bank governor Raghuram Rajan and former deputy governor Viral Acharya, have spoken for the “re-privatisation” of public sector banks even as the …

Rajan, Viral call for a major overhaul of banking system
4 years, 6 months ago

Rajan, Viral call for a major overhaul of banking system

Live Mint  

Former Reserve Bank of India governor Raghuram Rajan and former deputy governor Viral Acharya have called for winding down of the department of financial services, privatization of state-owned banks and creation of a bad bank as part of the reforms for India’s banking industry. The current status quo is untenable and there is a need for reforming the banking industry …

'Privatise Select PSU Banks, Dilute Role of DFS': Raghuram Rajan Calls for Reforms
4 years, 6 months ago

'Privatise Select PSU Banks, Dilute Role of DFS': Raghuram Rajan Calls for Reforms

News 18  

Former RBI Governor Raghuram Rajan on Monday suggested the government to privatise select public sector banks, set up a bad bank to deal with NPAs and dilute the role of Department of Financial Services. “Winding down Department of Financial Services in the Ministry of Finance is essential, both as an affirmative signal of the intent to grant bank boards and …

Divest Governance of PSBs from Govt, Says Former RBI Deputy Governor
4 years, 7 months ago

Divest Governance of PSBs from Govt, Says Former RBI Deputy Governor

News 18  

Former Reserve Bank deputy governor N S Vishwanathan on Tuesday said there is a need to separate governance of state-run banks from the government and pitched for doing away with the nationalisation laws from which the executive derives its powers. Privatisation is a bigger political decision and not an economic one alone, Vishwanathan said, adding that a bank holding company …

Need to Divest Stakes in Public Sector Banks in Graceful Manner, Says RBI Ex-Deputy Governor Viral Acharya
4 years, 7 months ago

Need to Divest Stakes in Public Sector Banks in Graceful Manner, Says RBI Ex-Deputy Governor Viral Acharya

News 18  

Former RBI Deputy Governor Viral V Acharya on Friday cautioned against fire sale of state-owned lenders, saying that disinvestment should be undertaken in a graceful manner at the right price and also made a case for privatisation of some healthy public sector banks. Divestment beyond majority stake is the first step because it will help relax the fiscal constraint in …

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions
5 years ago

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions

Firstpost  

Recent days have seen RBI governor Shaktikanta Das pulling up public sector banks for poor credit growth even as Kapoor’s Yes Bank shenanigans were simmering in the backdrop. The current crisis in Yes Bank makes for great headlines, with a high-profile founder lending huge amounts to tainted and/or serial borrowers, allegations of political corruption and a general state of injustice …

Budget 2020: Banking sector is feeling the heat of economic slowdown; can Nirmala Sitharaman clear the mess?
5 years, 2 months ago

Budget 2020: Banking sector is feeling the heat of economic slowdown; can Nirmala Sitharaman clear the mess?

Firstpost  

If one analyses the third-quarter earnings of Indian banks reported numbers so far, two clear trends are visible. But, banks lending less to companies is a clear bad news to India’s struggling economy because when credit growth slows to companies, that impacts progress of projects, cash flows and employment generation and so on. In this context, Union Finance Minister Nirmala …

Financial system stable despite weakening economic growth; reviving consumption, investment a major challenge: RBI
5 years, 2 months ago

Financial system stable despite weakening economic growth; reviving consumption, investment a major challenge: RBI

Firstpost  

The PSBs need to build stronger buffers to absorb any disproportionate operational losses, while private lenders need to focus on corporate governance, the RBI said. Mumbai: India’s financial system remains stable even after economic growth plummeted to a six-year low, the Reserve Bank of India said on Friday. “Reviving the twin engines of consumption and investment while being vigilant about …

Former RBI governor C Rangarajan says banks recapitalisation should be done through cash
5 years, 3 months ago

Former RBI governor C Rangarajan says banks recapitalisation should be done through cash

Firstpost  

Former RBI governor C Rangarajan on Friday suggested that recapitalisation of banks should be done through by infusing cash rather than issuing Bonds, as he cautioned that Boards of public sector undertakings, including banks, should maintain “arms length” from the Government Hyderabad: Former RBI governor C Rangarajan on Friday suggested that recapitalisation of banks should be done through by infusing …

Strategic sale in 5 PSUs: Govt’s messed up fiscal math has just got a major face-saver; privatisation drive positive for economy
5 years, 4 months ago

Strategic sale in 5 PSUs: Govt’s messed up fiscal math has just got a major face-saver; privatisation drive positive for economy

Firstpost  

The stake will be brought down in select PSUs to 51% while retaining the management control on a case-to-case basis, the government said. One of the key prerequisites for any country aspiring for sustainable economic development—government’s firm willingness to cede control in public sector undertakings and bring in more private participation—is finally taking place in growth-starved Indian economy. In a …

Niti Aayog VC pitches for governance reforms in banking sector
5 years, 5 months ago

Niti Aayog VC pitches for governance reforms in banking sector

India TV News  

Niti Aayog Vice Chairman Rajiv Kumar on Friday called for further reforms in banking sector after the recent recapitalisation and mergers, saying banks need autonomy and work at arm's length from the government. Speaking here at the India Economic Summit, Kumar also said the government must consider tapping capital markets and raise long- term funds for creating long-term assets through …

Goyal bats for PSUs, says private sector is full of scandals
5 years, 6 months ago

Goyal bats for PSUs, says private sector is full of scandals

Live Mint  

Mumbai: Union minister Piyush Goyal Friday batted for continued government ownership in banks and other key industrial areas saying privatisation is not the panacea for all the ills facing the economy as the private sector is plagued with more scandals than their state-run peers. Chairing a panel discussion at an India Today event here this evening, he said, "there are …

PSU bank mergers: Consolidation is no panacea as social banking goals remain with state in a vulnerable economy
5 years, 6 months ago

PSU bank mergers: Consolidation is no panacea as social banking goals remain with state in a vulnerable economy

Firstpost  

Some of the fundamental objectives for which banks were nationalised in the first place remain critical for managing India’s complex economy. Two decades ago, public sector bank executives had to be persuaded to lend more in the aftermath of the Indian Bank scam when they started fearing investigations by law enforcers such as the Central Board of Investigation into what …

FinMin asks PSBs to seek ideas from branches to streamline banking sector
5 years, 7 months ago

FinMin asks PSBs to seek ideas from branches to streamline banking sector

Live Mint  

New Delhi: The Finance Ministry has asked public sector banks to initiate a month-long consultation process with officers at branch level to seek suggestions on streamlining banking sector to help the country achieve $5-trillion economy in five years. The consultation process is aimed at aligning the banking sector with national priorities, stimulating ideas and inculcating a sense of involvement among …

Nationalisation of banks: Govt can continue to own banks, but management must be made professional
5 years, 8 months ago

Nationalisation of banks: Govt can continue to own banks, but management must be made professional

Firstpost  

Also, the PSBs have taken up technology quite well with core banking now virtually omnipresent. The nationalisation of banks was probably one of the boldest steps taken by the government in 1969 as the decision had many motives including bringing about balanced economic development and resolving the unemployment issue. Notwithstanding the fact that the PSBs today have the negatives of …

Budget 2019: FM announced fresh capital infusion of Rs 70,000 crore into PSBs to help credit growth
5 years, 8 months ago

Budget 2019: FM announced fresh capital infusion of Rs 70,000 crore into PSBs to help credit growth

India Today  

The Budget 2019, presented by Finance Minister Nirmala Sitharaman, has announced an infusion of Rs 70,000 crore into public sector banks to help improve credit growth in the economy. Nirmala Sitharaman also highlighted in her speech that six public sector banks have already been brought out of the Prompt Corrective Action framework’. Over the last five financial years, PSBs have …

Govt, Reserve Bank of India must work closely to boost sagging growth engine, ensure systemic stability: Shaktikanta Das
5 years, 8 months ago

Govt, Reserve Bank of India must work closely to boost sagging growth engine, ensure systemic stability: Shaktikanta Das

Firstpost  

Das said there has been an improvement in the performance of the state-run lenders due to recapitalisation Mumbai: Governor Shaktikanta Das June 27 called for more cooperation between the government and the Reserve Bank to help boost the sagging growth engine and to ensure systemic stability. “Overall, the situation warrants greater cooperation internationally as well as monetary and fiscal coordination …

PSB recapitalisation: Why Narendra Modi govt must look at outright privatisation of state-run banks rather than experimenting with taxpayers' money
5 years, 9 months ago

PSB recapitalisation: Why Narendra Modi govt must look at outright privatisation of state-run banks rather than experimenting with taxpayers' money

Firstpost  

There are reports indicating that the Union Government is contemplating recapitalising the public sector banks with a capital of Rs 30,000 crores. Thus, to a layman, this situation should give rise to the question as to why then is the government continuously infusing taxpayers hard-earned money into the banking system. The government controls more than two-thirds of the banking assets …

Budget 2019: Government likely to allot Rs 30,000 crore to PSU banks
5 years, 9 months ago

Budget 2019: Government likely to allot Rs 30,000 crore to PSU banks

India Today  

The government is likely to allot Rs 30,000 crore to public sector banks in the upcoming full budget 2019 as they have been struggling to meet the minimum regulatory capital requirement. Newly appointed finance minister Nirmala Sitharaman, who will be presenting the full budget on July 5, is expected to make an announcement about the provision-a move experts feel is …

British banks are propped up by the public purse, so they should be made to serve the public interest
5 years, 10 months ago

British banks are propped up by the public purse, so they should be made to serve the public interest

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The new settlement with Britain’s banks must also recognise …

Resolving India’s banking crisis
5 years, 10 months ago

Resolving India’s banking crisis

The Hindu  

The government that assumes office after the general election will have to crack a serious and unresolved problem: India’s banking sector. Public sector banks accounted for ₹8.9 trillion, or 86%, of the total NPAs. In 2018, the State Bank of India’s gross NPA/gross advances ratio was 10.9%. Second, the government must infuse at one go whatever additional capital is needed …

Read an excerpt from 'What the Economy Needs Now': Raghuram Rajan's thoughts on banking reforms
5 years, 10 months ago

Read an excerpt from 'What the Economy Needs Now': Raghuram Rajan's thoughts on banking reforms

Firstpost  

What the Economy Needs Now is a collection of essays by Indian economists, each tackling an issue facing the country, and providing suggestions for economic growth. Improving governance and management at public sector banks • Public sector bank boards are still not adequately professionalised, and the government rather than a more independent body still decides board appointments — with the …

Action on banks’ NPA recovery, mergers await new government
5 years, 11 months ago

Action on banks’ NPA recovery, mergers await new government

Live Mint  

The new Central government will undertake a thorough review of the public sector banks soon after taking office, sources said. Though the ministry has so far not released the figures of NPA recovery on the target of ₹1.8 lakh crore, but sources said with the delay in Essar Steel's fund distribution due to operational creditors' issues, the target might not …

Days before Budget 2019, Piyush Goyal says public sector banks will turn profitable; here's why
6 years, 1 month ago

Days before Budget 2019, Piyush Goyal says public sector banks will turn profitable; here's why

ABP News  

New Delhi: Newly appointed interim Finance Minister Piyush Goyal believes that the public sector banks will become more profitable in the days to come. “We have discussed how working of IBC has helped them recover larger amount of money both through the IBC mechanism and NCLT, and in many cases without having going to NCLT through the pressure that is …

Govt says not considering giving more powers to RBI to deal with state-owned banks
6 years, 2 months ago

Govt says not considering giving more powers to RBI to deal with state-owned banks

Firstpost  

The powers of the RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, including public sector banks, said Minister of State for Finance Shiv Pratap Shukla in the Rajya Sabha New Delhi: The government is not currently considering any proposal to give more powers to the Reserve Bank of India to deal with …

Govt gunning for lending boost, but banks are out of powder
6 years, 4 months ago

Govt gunning for lending boost, but banks are out of powder

Live Mint  

In the give and take between the government and the central bank, it has been reported that the leeway on Basel III has given lenders a potential to lend ₹ 3.7 trillion more. The purpose of the government in arguing for a leeway on capital was to give parched public sector banks the much-needed powder to lend. Of course, if …

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