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Reserve Bank of India (RBI)

RBI fines 4 bank, including PNB for violation of KYC norms

RBI imposed a penalty of Rs 1.75 crore on four public sector banks, including PNB and UCO Bank.

3 July 2019 8:45 AM IST

The total value of the freezed assets is Rs 56.21 crore.

2,313 frauds reported in Mudra loan accounts

Since the beginning of the scheme, over 19 crore loans have been extended under PMMY as on June 21, 2019.

1 July 2019 4:18 PM IST

When the size of a bank becomes big, then its business will also grow, resulting in more job creation. There is no question of retrenchment, Finance Secretary Rajiv Kumar said. (Photo: ANI)

Finance Secretary dispels fears of job losses after merger of 10 PSU...

The merger of PSBs is imperative for India to become a five trillion dollar economy in the next five years.

31 Aug 2019 12:24 PM IST

The agenda going forward is clear: The banks have to regain the confidence of investors so that they can raise funds from the capital markets and not be dependent on government. (Representational image)

Banks merger reflects govt resolve to address economic slowdown: India...

Manufacturing output and subdued farm sector activity pulled down India's GDP growth to 5 pc in April-June quarter.

31 Aug 2019 11:08 AM IST

Finance Minister Nirmala Sitharaman (Photo: File)

Govt unveils mega-mergers of PSU banks for economy boost

Number of public sector banks falls to 12, from 27 in 2017.

31 Aug 2019 1:46 AM IST

Finance Minister Nirmala Sitharaman (Photo: File)

From 27 to 12, Finance Minister announces mega PSU bank mergers

Non-performing assets have also been brought down from Rs 8.65 lakh crore to Rs 7.9 lakh crore.

30 Aug 2019 4:55 PM IST

Finance Minister Nirmala Sitharaman addressing Cooperative Group Housing Society Maha Sammelan. (Photo: ANI)

FM likely to announce more support measures for economy: DBS

The June quarter GDP numbers due this week will mark a slowdown from March quarter's 5.8 per cent year-on-year.

26 Aug 2019 2:54 PM IST

The agenda going forward is clear: The banks have to regain the confidence of investors so that they can raise funds from the capital markets and not be dependent on government. (Representational image)

Banks Board Bureau invites applications for top posts of 4 big PSU...

The appointments will be for three years.

20 Aug 2019 3:26 PM IST

The NDA/BJP government is looking increasingly cornered on every governance paradigm. However, its weakest link is the gross mismanagement of the Indian economy. (Representational image)

Credit demand subdued, economy needs stimulus: SBI Chairman

Though lack of credit demand exists in the economy, there is no supply-side constraint said SBI Chairman Rajnish Kumar.

18 Aug 2019 5:50 PM IST

Finance Ministry

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

The campaign comes at a time when the economy is facing headwind and it has slowed to a 5-year low of 6.8 per cent.

17 Aug 2019 11:15 AM IST

The credit cost for the banking sector, which was 4.8 per cent in Q4FY18, has reduced to 2.75 per cent to 3 per cent in Q4FY19, going by the bank results declared so far.

Banks report reduction in NPA; seek steps to address stress in NBFCs:...

Participating banks suggested that government should simplify GST framework and lower GST rates to enhance tax...

13 Aug 2019 6:35 PM IST

Syndicate Bank has reported a net loss of Rs 263.19 crore for the June quarter of 2017.

Syndicate Bank expects Rs 4,000 cr from NPA recovery in FY20

The bank has recovered about Rs 800 crore in the first quarter, said Syndicate Bank MD Mrutyunjay Mahapatra.

12 Aug 2019 5:06 PM IST