Govt announces sweeping governance reforms for PSU bank boards
5 years, 4 months ago

Govt announces sweeping governance reforms for PSU bank boards

Live Mint  

The government on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India to create the second-largest banking network in the country with 11,431 branches. "Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with the business of ₹17.95 lakh crore and 11,437 branches," Finance Minister Nirmala Sitharaman said at a press conference here. Canara Bank and Syndicate Bank will be merged into one entity to create fourth largest public sector bank with ₹15.2 lakh crore business, while Union Bank of India, Andhra Bank and Corporation Bank will be amalgamated into a single entity to become India's 5th largest public sector bank with ₹14.59 lakh crore business. Similarly, Indian Bank and Allahabad Bank will become one entity to create seventh largest public sector bank with ₹8.08 lakh crore business.

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History of this topic

Seventh largest public sector bank carries a legacy of over a century
2 weeks, 4 days ago

Seventh largest public sector bank carries a legacy of over a century

The Hindu  

Indian Bank, which was established on March 5, 1907 and officially started operations on August 15, 1907, has a legacy of over a century. As on September 30, 2024, Indian Bank is the seventh largest public sector bank with a total business of ₹12.44 lakh crore. The establishment of the bank reflected the nationalistic desire for a reliable, Indian-managed financial …

Two small-cap PSU banks set for a leap?
4 weeks, 2 days ago

Two small-cap PSU banks set for a leap?

Live Mint  

The Indian stock market has seen remarkable movements in recent years, with public sector undertaking banks emerging as a standout sector. Within this space, small-cap PSU banks like UCO Bank and Central Bank of India are showing significant potential and positioning themselves as future leaders. This scenario would likely benefit smaller PSU banks like UCO Bank and Central Bank of …

India: Centre rules out new PSU bank mergers
1 month ago

India: Centre rules out new PSU bank mergers

Deccan Chronicle  

New Delhi: The Centre may not consider merger of public sector banks as several reforms undertaken by the government in the banking sector have created systemic improvements and instituted checks and controls to minimise the risk of recurrence of excessive stress, the government said on Tuesday. “The reforms undertaken by the government in the banking sector have created systemic improvements …

Move to relocate APGB office triggers resentment in Andhra
1 month, 2 weeks ago

Move to relocate APGB office triggers resentment in Andhra

New Indian Express  

KADAPA: The Central government’s decision to relocate the Andhra Pragathi Grameena Bank headquarters from Kadapa to Amaravati has triggered widespread protests across Kadapa and surrounding districts. Stakeholders argue that the move undermines local employment opportunities and disrupts financial services in the economically backward Rayalaseema region. The relocation is part of the Centre’s ‘One State-One Regional Rural Bank ’ policy, aimed …

RBI retains SBI, HDFC, ICICI as India’s too-big-to-fail banks
1 month, 4 weeks ago

RBI retains SBI, HDFC, ICICI as India’s too-big-to-fail banks

Live Mint  

India’s central bank, the Reserve Bank of India, announced on Wednesday that the State Bank of India, HDFC Bank, and ICICI Bank remain designated as domestic systemically important banks. According to the RBI, SBI and HDFC Bank will face heightened capital buffer requirements beginning April 1, 2025. PSBs vs Private banks Separately, a recent report by SBI highlighted robust financial …

Karnataka government to close SBI, PNB accounts
4 months, 3 weeks ago

Karnataka government to close SBI, PNB accounts

Hindustan Times  

Karnataka’s finance department on Wednesday directed all state government departments, public sector undertakings, boards, corporations, local bodies, universities, and other state-run institutions to close their accounts with State Bank of India and Punjab National Bank. The other case pertained to the Karnataka State Pollution Control Board, which had invested ₹10 crore in a fixed deposit at the erstwhile State Bank …

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why
4 months, 3 weeks ago

Karnataka govt orders state departments to close accounts with SBI and PNB; here’s why

Live Mint  

Karnataka Government has instructed all its departments, public sector units, universities, and subordinate organizations to cease all transactions with the State Bank of India and Punjab National Bank, as quoted by The Economic Times. The Finance department issued a circular to all department heads, highlighting that the Karnataka Industrial Areas Development Board was unable to recover a deposit from Punjab …

Congress: Any move to reduce govt stake in 12 public sector banks will be resisted
5 months, 3 weeks ago

Congress: Any move to reduce govt stake in 12 public sector banks will be resisted

The Hindu  

The Congress on July 19 said any move to bring down the Union government's stake in 12 public sector banks to less than 51 per cent would continue to be resisted forcefully both in Parliament and outside. Over the past seven years, there have been mergers in the public sector banking industry, Mr. Ramesh pointed out "United Bank of India …

Government may introduce amendments to laws to push banking sector reforms in Budget session
5 months, 4 weeks ago

Government may introduce amendments to laws to push banking sector reforms in Budget session

The Hindu  

The government is likely to introduce amendments to Banking Regulation Act 1949 and other laws to push banking sector reforms during the upcoming Budget session. Apart from this, amendments in the Banking Companies Act, 1970, and the Banking Companies Act, 1980 are needed for privatisation of public sector banks, sources said. Amendments, if approved by Parliament, would help bring down …

PSU banks count on new coalition government for more lucrative PLI for employees
7 months ago

PSU banks count on new coalition government for more lucrative PLI for employees

Hindustan Times  

PSU banks are hopeful of a more lucrative performance-linked incentive for employees as a new coalition government takes charge, the Economic Times reported. “Some of the parameters governing the PLI, like the final settlement, should not be only based on operating profit, but take into account performance on other financial parameters,” another bank executive told the Economic Times. "While banks …

Government requests all agency banks to remain open for public on March 31
9 months, 2 weeks ago

Government requests all agency banks to remain open for public on March 31

Op India  

The Reserve Bank of India on 20 March advised all banks dealing with government transactions to open their branches on 31st March, Sunday. The Government of India requested all agency banks to keep their branches dealing with government receipts and payments open for transactions on March 31that is Sunday, in a move aimed at facilitating seamless government transactions. By keeping …

India’s growing economy needs bigger banks
11 months ago

India’s growing economy needs bigger banks

Live Mint  

Finance minister Nirmala Sitharaman has said that India needs more banks the size of State Bank of India, or even larger. As our economy grows, lending capacity must expand and large lenders can lend larger sums without asset-concentration risk. In 2019, the government decided to merge at least 10 state-run banks to create four larger ones. Also expected was a …

India needs more SBI-sized banks, or three times larger: FM Nirmala Sitharaman
11 months ago

India needs more SBI-sized banks, or three times larger: FM Nirmala Sitharaman

Live Mint  

New Delhi: India needs more “SBI-size” banks to meet the growing needs of the economy and industry, particularly as the country aspires to grow to be the world’s third-largest economy, finance minister Nirmala Sitharaman said. In an interview with Mint, the finance minister said the country needs to create an atmosphere so larger overseas banks can enter India, and more …

FinMin revises letter, scotches PSU bank merger speculation
1 year ago

FinMin revises letter, scotches PSU bank merger speculation

Live Mint  

The Union finance ministry has rectified the agenda of a parliamentary committee meeting scheduled for early next year, putting an end to speculation of a potential merger of public sector banks—UCO Bank with Union Bank of India, and Bank of India with Bank of Maharashtra. In a letter addressed to, among others, the bank chiefs of the four PSU banks …

Canara Bank was top lender to public sector cos in FY23
1 year, 5 months ago

Canara Bank was top lender to public sector cos in FY23

Live Mint  

Public Sector Banks lent ₹4.12 trillion to state-backed corporations and public sector undertakings during 2022-23, down from ₹4.93 trillion during the previous year, finance minister Nirmala Sitharaman informed Parliament in a written response on Monday. Responding to questions by member of parliament, Velusamy P, Sitharaman informed the Lok Sabha that Canara Bank led the lending during 2022-23 to government backed …

Net profit of PSBs almost tripled to ₹1.04 lakh in FY2022-23: FM Sitharaman
1 year, 6 months ago

Net profit of PSBs almost tripled to ₹1.04 lakh in FY2022-23: FM Sitharaman

Live Mint  

Finance Minister Nirmala Sitharaman on Saturday appreciates the state-run banks for becoming profiteering. According to the union Finance Minister, the net profit of public sector banks has almost tripled to ₹1.04 lakh crore in fiscal 2022-23. "The Non-Performing Assets of the Indian banks is estimated to reduce further to a decadal low of 3.8% by end of FY 2023-24," Sitharaman …

Nirmala Sitharaman praises PSBs, says 'profit tripled to Rs 1.04 lakh in nine years'
1 year, 6 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, 7 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, 9 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?
1 year, 11 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
1 year, 11 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 …

PSU Bank stocks’ valuations attractive, Motilal Oswal names 3 top picks
1 year, 11 months ago

PSU Bank stocks’ valuations attractive, Motilal Oswal names 3 top picks

Live Mint  

Public sector banks have been consistent performers on the Street in last one year and if experts estimates are to go by, their earnings growth will sustain going ahead aided by improved loan growth, margins and controlled credit costs. PSU banks have progressed a lot in past 5 years with profitability of of top seven PSBs improving to an estimated …

RBI Bulletin: Big bang Approach To PSB Privatisation May Do More Harm Than Good
2 years, 4 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 …

PSU banks mobilise record fund of ₹58,700 crore from markets in FY21
3 years, 5 months ago

PSU banks mobilise record fund of ₹58,700 crore from markets in FY21

Live Mint  

Notwithstanding economic disruptions caused by the pandemic, public sector banks have managed to raise a record ₹58,700 crore from markets in FY2020-21 through a mix of debt and equity to enhance capital base. Punjab National Bank mobilised ₹3,788 crore through share sale on private placement basis during the financial year ended March 31, 2021. In addition, 12 PSBs raised funds …

RBI Paves Way for Takeover of Crisis-hit PMC Bank, Allows Centrum to Set Up Small Finance Bank
3 years, 6 months ago

RBI Paves Way for Takeover of Crisis-hit PMC Bank, Allows Centrum to Set Up Small Finance Bank

News 18  

Paving the way for takeover of crisis-ridden Punjab and Maharashtra Cooperative Bank, the Reserve Bank of India on Friday granted in-principle approval to the Centrum Financial Services to set up a small finance bank. “This ‘in-principle’ approval has been accorded in specific pursuance to the Centrum Financial Services Limited’s offer dated February 1, 2021, in response to the expression of …

Bank Privatisation: Central Bank of India, Indian Overseas Bank May Be Privatized This Fiscal
3 years, 7 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. …

Your Existing Chequebook, Passbook will become invalid from Today. Details Here
3 years, 9 months ago

Your Existing Chequebook, Passbook will become invalid from Today. Details Here

News 18  

The merger of Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Oriental Bank of Commerce, United Bank and Allahabad Bank came into effect on April 1, 2019, and April 1, 2020. While, Oriental Bank of Commerce and United Bank of India were merged with Punjab National Bank, followed by Syndicate Bank merger with Canara Bank, Andhra Bank and Corporation Bank …

Cheque Book, Passbook of these banks to Become Invalid from April 1. Here's why
3 years, 9 months ago

Cheque Book, Passbook of these banks to Become Invalid from April 1. Here's why

News 18  

The merger of Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Oriental Bank of Commerce, United Bank and Allahabad Bank came into effect on April 1, 2019, and April 1, 2020. Alerting their customers, PNB and Bank of Baroda had already informed that the existing cheque books of OBC, United Bank of India, Vijaya Bank, and Dena Bank will get …

Centre likely to bring amendments to two legislations to facilitate privatisation of PSU banks
3 years, 10 months ago

Centre likely to bring amendments to two legislations to facilitate privatisation of PSU banks

Firstpost  

New Delhi: To facilitate the privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. Finance Minister Nirmala Sitharaman while presenting Budget 2021-22 earlier this month had announced the privatisation of Public Sector Banks as part of disinvestment drive to garner Rs 1.75 lakh crore. “Other than IDBI Bank, we propose to …

Govt to amend two Acts to enable privatisation of PSU banks
3 years, 10 months ago

Govt to amend two Acts to enable privatisation of PSU banks

India TV News  

To facilitate privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. The ongoing Budget session is scheduled to take up as many as 38 Bills including the Finance Bill 2021, Supplementary Demands for Grants for 2020-21 and related Appropriation Bill, National Bank for Financing Infrastructure and Development Bill, 2021, and Cryptocurrency …

Engaging With RBI on Privatisation of Govt-Run Banks in Big Way, Can't Have Laggards: Nirmala Sitharaman
3 years, 11 months 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 …

Budget 2021: Two PSU Banks, One Insurance Firm to be Privatised, Here's What You Need to Know
3 years, 11 months ago

Budget 2021: Two PSU Banks, One Insurance Firm to be Privatised, Here's What You Need to Know

News 18  

Finance Minister Nirmala Sitharaman in her Union Budget 2021 speech on February 1 announced that two public sector banks and one general insurance company will be privatised as she revealed the government’s intent to focus more on disinvestment going forward. The privatisation of two public sector banks and one general insurance company comes as part of the consolidation in the …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
3 years, 11 months 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
3 years, 11 months 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 …

Know the Changes Affecting Customers Post Corporation Bank, Andhra Bank Merger with Union Bank of India
3 years, 11 months ago

Know the Changes Affecting Customers Post Corporation Bank, Andhra Bank Merger with Union Bank of India

News 18  

The migration of all the customers of the Corporation Bank and Andhra Bank has been successfully completed to the core banking solution of Union Bank of India. Internet banking, mobile banking, UPI, IMPS, treasury and swift have also been rolled out by UBI for Andhra and Corporation Bank customers. No changes have been made to the account number and customer …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
3 years, 11 months 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 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 …

A final push for the entry of corporate players in banking
4 years, 1 month ago

A final push for the entry of corporate players in banking

The Hindu  

Areport of an internal working group set up by the Reserve Bank of India has revived the discussion on the wisdom of allowing the entry of corporate players, including large business groups, into India’s banking space. Although the process of licensing a new generation of private banks began in 1993, primarily non-financial corporate entities have been eligible under the RBI’s …

AIBOC Opposes Merger of LVB with DBS Bank, Pitches for Merger With State-owned Bank
4 years, 1 month ago

AIBOC Opposes Merger of LVB with DBS Bank, Pitches for Merger With State-owned Bank

News 18  

A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank with subsidiary of Singapore-based DBS, public sector banks’ officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to …

RBI Excludes 6 PSBs from Second Schedule of RBI Act
4 years, 3 months ago

RBI Excludes 6 PSBs from Second Schedule of RBI Act

News 18  

The RBI has excluded six public sector banks, including OBC and Allahabad Bank, from the Second Schedule of the RBI Act following their merger with other banks. The six banks are Syndicate Bank, Oriental Bank of Commerce, United Bank of India, Andhra Bank, Corporation Bank, and Allahabad Bank. "We advise that Syndicate Bank has been excluded from the Second Schedule …

Finance Ministry May Provide Capital Support Worth Rs 20,000 crore to Public Sector Banks in 3rd Quarter
4 years, 3 months ago

Finance Ministry May Provide Capital Support Worth Rs 20,000 crore to Public Sector Banks in 3rd Quarter

News 18  

The Finance Ministry is likely to provide capital support from the Rs 20,000 crore fund approved by Parliament in recently concluded session to some Public Sector Banks in the third quarter itself. In the last financial year, Punjab National Bank got Rs 16,091 crore, Union Bank of India received Rs 11,768 crore while Canara Bank and Indian Bank got Rs …

Rajan, Acharya may be off mark: PSU banks need strategy and focus to survive, not privatisation as remedy
4 years, 3 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 …

'Privatise Select PSU Banks, Dilute Role of DFS': Raghuram Rajan Calls for Reforms
4 years, 3 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 …

Govt Seeks Parliament Nod for Rs 20,000 Crore Capital Infusion in Public Sector Banks
4 years, 3 months ago

Govt Seeks Parliament Nod for Rs 20,000 Crore Capital Infusion in Public Sector Banks

News 18  

The government on Monday sought Parliament’s approval for infusing Rs 20,000 crore in public sector banks in the current financial year to meet regulatory requirements. “For meeting expenditure towards recapitalisation of Public Sector Banks through issue of Government Securities” the government has asked for Parliament’s authorisation of Rs 20,000 crore, as per a document. In 2019-20, the government proposed to …

Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G
4 years, 7 months ago

Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G

Firstpost  

The country’s economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks to boost credit growth, an official said on Friday Kolkata: The country’s economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks to boost credit growth, an official said on Friday. The number of PSBs has …

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
4 years, 9 months ago

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

Firstpost  

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday New Delhi: The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday. …

Syndicate Bank's Krishnan S appointed as executive director at Canara Bank post-merger
4 years, 9 months ago

Syndicate Bank's Krishnan S appointed as executive director at Canara Bank post-merger

Firstpost  

In March, Canara Bank had said Krishnan will be appointed as executive director with effect from 1 April 2020 till 31 October 2020, or until further orders. New Delhi: State-owned Canara Bank on Wednesday said Krishnan S has become its executive director post its merger with Syndicate Bank. “We further inform that, he assumed the office as executive director, Canara …

PSB mergers the new hurdle for resolutions under IBC
4 years, 9 months ago

PSB mergers the new hurdle for resolutions under IBC

Live Mint  

The approaching deadline for the merger of small public sector banks with their larger counterparts is slowing down resolution of cases under the Insolvency and Bankruptcy Code. While small state-run banks generally have limited influence in lender committees of large assets, in cases where they have a substantial say, key decisions on resolution are being postponed until the ongoing mergers …

Yes Bank Allots Shares To SBI, 7 Private Banks
4 years, 9 months ago

Yes Bank Allots Shares To SBI, 7 Private Banks

ABP News  

Mumbai: Crisis-hit Yes Bank has allotted 1,000 crore equity shares to seven private banks and the state-run State Bank of India for a total consideration of Rs 10,000 crore. In a regulatory filing, Yes Bank said: "395,00,00,000 equity shares have been issued and allotted to the investors for an aggregate subscription consideration of Rs 39,50,00,00,000, calculated at a share price …

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions
4 years, 10 months 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 …

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