Articles for Sector Banks

Sitharaman Rebukes Rahul Gandhi Over Allegations on Public Sector Banks
1 week, 5 days ago

Sitharaman Rebukes Rahul Gandhi Over Allegations on Public Sector Banks

Deccan Chronicle  

Union Finance Minister Nirmala Sitharaman strongly criticized Leader of Opposition Rahul Gandhi for his comments regarding the functioning of Public Sector Banks under the Modi government. Responding to Gandhi's accusations that PSBs have been turned into "private financiers for the rich and powerful," Sitharaman highlighted the significant reforms and improvements in the banking sector during the Modi regime.On Wednesday, Gandhi, …

Finance India Gandhi Upa Public Sector Banks Sector Rahul Gandhi
India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports
2 weeks ago

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports

Deccan Chronicle  

New Delhi: The gross non-performing assets of public sector banks stood at Rs 3.16 lakh crore as of September 30, which is 3.09 per cent of the outstanding loans, while gross NPAs as percentage of outstanding loan is 1.86 per cent in private sector banks, the government said on Tuesday. Informing to the Parliament, minister of state for finance Pankaj …

India Crore Sector Banks Gross Outstanding Npas
Navigating Intersection Of Anti-Money Laundering And Recovery Laws: The Imperative For Collaboration And Cooperation
2 weeks, 1 day ago

Navigating Intersection Of Anti-Money Laundering And Recovery Laws: The Imperative For Collaboration And Cooperation

Live Law  

The legislative efforts to combat money laundering activities in the country and the legislative measures to deal with the recovery of nonperforming assets in the Banking sector without the intervention of courts of law coincided in the same year with the passage of two special Acts in the year 2002. An Act to regulate securitisation and reconstruction of financial assets …

Properties Recovery Money Laundering Money Enforcement Financial Institutions Bank
India: Centre rules out new PSU bank mergers
3 weeks 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 …

India Bank Public Sector Banks Banks Merger
PSU banks are giving the best FD rates in eight years. Here's why
1 month, 2 weeks ago

PSU banks are giving the best FD rates in eight years. Here's why

Live Mint  

Mumbai: Under pressure from slow pace of deposit growth compared to loan offtake, India’s state-owned banks have pressed the pedal on attracting depositors even at the cost of a potential hit on their margins and profits. This September, the weighted average domestic term deposit rate for public sector banks touched 7%, a first since March 2017. According to Aniket Dani, …

Growth Public Sector Banks Term Rates Private Deposit Deposits
Will Conflict of Interest Allegations Against SEBI Chairperson Madhabi Buch Impact Indian Public Sector Banks?
4 months, 1 week ago

Will Conflict of Interest Allegations Against SEBI Chairperson Madhabi Buch Impact Indian Public Sector Banks?

The Hindu  

Published : Aug 15, 2024 11:57 IST - 5 MINS READ The integrity of India’s financial markets has been called into question following allegations of conflict of interest against Madhabi Buch, the current chairperson of the Securities and Exchange Board of India. Notably, the regulatory oversight of SEBI has a deep influence on public sector banks in India, especially those …

India Market Financial Regulatory Interest Public Sector Banks Public
Public Sector Banks' NPAs on Mudra Loans Fall to 3.4% in 2023-24: FM Nirmala Sitharaman
4 months, 2 weeks ago

Public Sector Banks' NPAs on Mudra Loans Fall to 3.4% in 2023-24: FM Nirmala Sitharaman

News 18  

Public sector banks’ non-performing assets associated with the Mudra loan category have declined to 3.4 per cent in the 2023-24 fiscal, Finance Minister Nirmala Sitharaman said on Monday. The finance minister informed the House that the NPA for public sector banks on Mudra loans has decreased to 3.4 per cent in the financial year 2023-24. She further said Mudra loan …

Loans Public Sector Banks Sector Cent Banks Sitharaman Npa
Congress: Any move to reduce govt stake in 12 public sector banks will be resisted
5 months 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 …

Congress Public Sector Banks Public Sector Banks Ramesh State Bank
Government may introduce amendments to laws to push banking sector reforms in Budget session
5 months, 1 week 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 …

Banking Budget Bank Public Sector Banks State Banks Act
RBI Governor Das warns banks against mule accounts
5 months, 3 weeks ago

RBI Governor Das warns banks against mule accounts

New Indian Express  

MUMBAI: Reserve Bank of India governor Shaktikanta Das has warned banks against mule accounts and asked them to set up their security measures against such accounts so as to curb digital frauds. Addressing the heads of public sector and private sector banks here at the Mint Road headquarters, as part of the central banks’ continuing engagements with the top management …

Accounts Mule Digital Frauds Mule Accounts Sector Banks
Nifty Bank surges over 3% to mark biggest weekly gain in 2024; Bandhan Bank climbs 8%, IDFC Bank up 7%
6 months ago

Nifty Bank surges over 3% to mark biggest weekly gain in 2024; Bandhan Bank climbs 8%, IDFC Bank up 7%

Live Mint  

The Indian market ended the shortened trading week with significant fluctuations as profit booking by investors caused major indices to close in negative territory. Global brokerage firm CLSA has shown a preference for private sector banks over their public sector counterparts, noting their currently reasonable valuations. Another global brokerage house, Macquarie, also advised investors to favor private sector banks while …

Bank Index Sector Banks Private Mark Gain
The Bombay high court strikes a blow for liberty
7 months, 3 weeks ago

The Bombay high court strikes a blow for liberty

Hindustan Times  

Every once in a way, we hear of an individual being stopped at the airport, just as they are about to board an international flight. In this context, the Bombay high court’s judgment — authored by justices Gautam Patel and Madhav Jamdar — on April 23 marks an important judicial pushback against what we can call LOC impunity. While the …

Court Right Public Sector Banks State Public Issued Bombay
Can regulation technology address the compliance woes of banks?
8 months, 2 weeks ago

Can regulation technology address the compliance woes of banks?

Live Mint  

The compliance function in banks is the nerve-centre that performs a vital role in preserving organizational resilience and stability. Regulatory expectations of banks went up sharply after the 2008 Global Financial Crisis, the lessons of which inspired reforms spanning the entire spectrum of prudential guidelines, covering both idiosyncratic and systemic risks, with many new variables placed under watch, such as …

Compliance Regulatory Risk Banks
Banking Crisis Was Infamous Legacy Of UPA With Mountain of Bad Loans: FM Presents White Paper On Economy
10 months, 2 weeks ago

Banking Crisis Was Infamous Legacy Of UPA With Mountain of Bad Loans: FM Presents White Paper On Economy

News 18  

The banking sector was facing a crisis around 2014 when the Modi government came into power. According to the White Paper on the Indian Economy tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha on February 8, when the Vajpayee-led NDA government left office in 2004, gross non-performing assets stood at 7.8 per cent. When the Vajpayee-led NDA government …

Loans Upa Public Sector Banks Cent Bad Loans
Women as financial ambassadors: Key to expanding inclusion
11 months ago

Women as financial ambassadors: Key to expanding inclusion

Hindustan Times  

By harnessing the potential of women as banking agents, we bridge financial inclusion gaps while fostering women's economic empowerment and reshaping societal norms. Another advantage lies in women agents' adeptness at building connections with customers, translating into higher transactions, especially considering research in India revealing women customers' preference for female agents during doorstep banking services. The Jan Dhan Plus work …

India Insurance Women Services Financial Services Financial Inclusion Potential
Not SBI, this public sector bank offers higher FD interest rates; check details
1 year, 1 month ago

Not SBI, this public sector bank offers higher FD interest rates; check details

News 18  

The State Bank of India, the largest public sector bank in the country, is often the first choice for Indians to open Fixed Deposits. To make things easier for investors, we have curated a list of public sector banks that offer best FD interest rates for a 3-year term. Bank of Baroda Bank of Baroda is currently offering the highest …

Bank Interest Rates Interest Public Sector Banks Public Sector Rates
Karuvannur Service Co-operative Bank scam | Depositors in dire straits
1 year, 2 months ago

Karuvannur Service Co-operative Bank scam | Depositors in dire straits

The Hindu  

of Manithara village in Kerala’s Avanoor panchayat, a nursing assistant in a private hospital, took a loan of ₹18 lakh from the Mundur branch of the Thrissur District Cooperative Bank sometime in 2014. “Now the loan amount has mounted to ₹70 lakh and the bank is threatening us with revenue recovery procedures.” The kingpin On September 4, 2023 the Enforcement …

Kerala Money Bank Loan Scam Medical College Service
PSBs asked to focus on robust risk management practices
1 year, 2 months ago

PSBs asked to focus on robust risk management practices

Live Mint  

New Delhi: The government has asked public sector banks to focus on robust risk management practices and mitigate cyber security risk as part of the three-year strategic roadmap designed for them to further strengthen the sector and prevent build up of bad debts. “We will individually discuss with each bank on the steps taken by them to strengthen their underwriting …

Risk Sector Banks Each Bank
Finance Commission expected to be constituted by November end: Finance secretary
1 year, 4 months ago

Finance Commission expected to be constituted by November end: Finance secretary

The Hindu  

The government is expected to constitute the 16th Finance Commission by end of November, Finance Secretary T V Somanathan said. The 15th finance commission's recommendations include the fiscal deficit, debt path for the Union and States, and additional borrowing room to states based on performance in power sector reforms. He also said the government will stick to the fiscal deficit …

Finance Tax Public Sector Banks End Commission Fiscal Finance Commission
Nirmala Sitharaman praises PSBs, says 'profit tripled to Rs 1.04 lakh in nine years'
1 year, 5 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 …

Indian Profit Public Sector Banks Sitharaman Nirmala Sitharaman Nine Years Minister Nirmala
Pvt banks' slippages, write-offs from COVID recast almost double than that of PSBs : Report
1 year, 6 months ago

Pvt banks' slippages, write-offs from COVID recast almost double than that of PSBs : Report

The Hindu  

Private sector banks' slippages and write-offs from loans restructured after the COVID-19 pandemic are almost double than that of their State-owned peers, a report said on Friday. Private sector banks have seen slippages and loan write-offs at 44%, as against 23% in case of public sector banks, the report by India Ratings and Research said, calling the trend “surprising”. “Banks …

Covid Banks Asset Private Sector Banks
ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now
1 year, 6 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 …

Banking Profit Public Sector Banks Crore Public 5 Per Cent Losses
Buying a home? Here are 6 tips to consider before applying for a loan
1 year, 8 months ago

Buying a home? Here are 6 tips to consider before applying for a loan

Live Mint  

Acquiring a house is a significant milestone that many of us strive to fulfil in our lifetime. Interest rates As the loan amount is big, home loans are generally for long tenures ranging from a few years to as long as 30 years. Before committing to a home loan for a long time you must understand that – The interest …

Insurance Tax Loan Interest Rates Interest Payment Down Payment
Inside Bank of Baroda’s silent transformation
1 year, 8 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 …

India Corporate Bank Public Sector Banks Public Sector Banks