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PSBS News

22 Jan 2023

Budget 2023: Govt may not announce capital infusion for PSU banks in Budget

The government last provided capital support to banks in 2021-22. It had earmarked Rs 20,000 crore for recapitalisation of PSBs through supplementary demands for grants.

15 May 2022

PNB, SBI account for most valuable bank frauds among PSBs: RBI

PNB reported the highest amount of frauds at Rs 9,528.95 crore. SBI reported frauds worth Rs 6,932.37 crore.

Public sector bank

27 Feb 2022

Centre to provide capital support mostly to weak PSBs

This will help these public sector banks (PSBs) meet regulatory requirements. These special securities with tenure of 10-15 years are non-interest bearing and valued at par.

finance minister Nirmala Sitharaman

07 Jan 2022

Finance Minister asks banks to support COVID-affected sectors

The minister asked lenders to support sectors that face interruption due to COVID. She also reviewed various steps taken by PSBs in implementing pandemic-related measures.

public sector banks

12 Dec 2021

Centre unlikely to announce capital infusion for PSU banks in Budget: Report

Banks reportedly would be encouraged to raise funds from the market and also by selling their non-core assets. The government has earmarked Rs 20,000 crore for the recapitalisation of PSBs in FY22. Finance Minister is expected to present the fourth budget of the Modi 2.0 government on February 1.

Banking Laws (Amendment) Bill

25 Nov 2021

Centre to amend banking laws to facilitate privatisation of two PSU banks

The Banking Laws (Amendment) Bill, 2021, is expected to bring down the minimum government holding in the PSBs. The bill will facilitate the privatisation of two public sector banks (PSBs). The bill will be introduced in the upcoming Winter Session.

public sector banks

10 Apr 2021

Centre may redraw bank recapitalisation plan in wake of new challenges

The Budget allocated Rs 20,000 crore towards recapitalisation of PSBs to help them consolidate their financial capacity. Moreover, PSBs have proactively built buffers during the financial year 2020-21 (FY21) to improve their resilience in the face of the shock from the pandemic. The problem has been accentuated with the Reserve Bank of India now writing to the bank to meet their obligation towards interest on interest for all borrowers where exposure is over Rs 2 crore as well.

public sector banks

21 Aug 2020

PSBs to need capital up to Rs 2.1 trillion over next 2 years: Moody's

According to Moody's, Indian economy will contract sharply in fiscal year ending March 2021. It will return to growth, though modestly, in fiscal 2021. Moody's said to maintain financial stability, government will continue to provide capital support for PSBs.

Nirmala Sitharaman

19 Sep 2019

FM Nirmala Sitharaman to meet heads of public sector banks today

The meeting assumes importance as this will be her first meeting with PSB heads after she announced amalgamation of 10 public sector banks into on August 30.

public sector banks

11 Sep 2019

Government to infuse Rs 55,000 crore into Public Sector Banks in a week

FM Nirmala Sitharaman had announced the capital infusion of Rs 55,000 in 10 PSBs to be consolidated into 4 large Banks so that their capital base can be improved.

general insurance

06 Sep 2019

Centre to infuse Rs 12,000 crore in state general insurance firms

The Budget had provisioned Rs 70,000 crore for PSB recapitalisation and last week a Rs 55,250-crore infusion was announced in several PSBs for regulatory and growth requirements.

RBI annual report 2019

30 Aug 2019

Total frauds in Indian banks rose to Rs 71,543 crore in 2018-19: RBI report

Among bank groups, PSBs, which constitute largest market share in bank lending, have accounted for the bulk of frauds reported in 2018-19.

Enhanced bank recapitalisation

21 Dec 2018

Govt to enhance bank recapitalisation outlay to Rs 1.06 lakh cr in FY 2018-19

This would enable infusion of over Rs 83,000 crore in the coming few months in Public Sector Banks (PSBs).

14 Dec 2018

Reduce number, weight of government mandates for PSBs: Rajan

He further said public sector banks still not adequately professionalised and there is a need to substantially improve risk management.

30 May 2018

Photos: Bank strike across India on May 30, 2018

Banking operations in the country were hit on Wednesday as 10 lakh employees, primarily from PSU banks, went on 2-day strike to protest against a 'meagre' 2 percent salary hike offered by Indian Banks Association (IBA) - the management body.

30 May 2018

Bank strike may affect customer transactions worth Rs 20,000 crore: Assocham

The UFBU, an umbrella body of nine bank unions, has gone on strike against the proposed wage hike of 2 percent as against 15 percent given last time.

Arvind Panagariya

25 Mar 2018

Except SBI, rest state-run banks should be privatised, says Arvind Panagariya

The former NITI Aayog vice-chairman also said that political parties should mention privatisation of PSBs in their 2019 general election manifesto.

Getting It Right

29 Jun 2018

Wedded to Socialism, Congress has learnt nothing and forgotten nothing

The recent Congress plenary session has showed that the Congress still wants to undo the liberalisation that its own government started in 1991.

12 Mar 2018

Reform state-run banks, IMF tells India after PNB fraud

IMF said that banking reforms like insolvency code and recapitalisation will be ineffective unless governance standards are improved.

11 Mar 2018

PNB fraud overreaction may hugely hurt credit flow: Assocham

Last month, Assocham had said that the PNB fraud that has rocked the banking system should not halt the process of corporate lending.

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