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A priest held prayers in the defence ministers chamber before Nirmala Sitharaman assumed charge. (Photo: Twitter | ANI)

There will not be single job loss due to merger of banks: FM

I have very clearly underlined the fact that there shall not be one employee removed, said Finance Minister Nirmala...

1 Sept 2019 4:55 PM IST

Banks have recognised DHFL and Cox & Kings as fraud and those that have an exposure to these accounts will have to provide 100 per cent upfront for the exposure.

PSB merger: Insurers told to service all policies

A bank can continue to buy group insurance covers with any number of insurance companies for the insurance needs of its...

29 Jan 2020 1:40 AM IST

According to a source, the appointment of Challa Sreenivasulu Setty as managing director (MD) of SBI has been cleared by the BBB, headed by former Department of Personnel and Training secretary BP Sharma, while the name of Ashwin Bhatia, MD & CEO of SBI Mutual Fund, has been kept as a standby for the same position.

Key positions in SBI, BoB await govt okay

Interviews for the post were held in the last week of October, in which 17 candidates appeared from both SBI and other...

20 Jan 2020 1:44 AM IST

Moodys base case assumes a sharp contraction in the Indian economy in fiscal 2021 before returning to modest growth in fiscal 2021. (PTI Photo)

Public sector banks will need Rs 2.1 lakh crore to plug capital...

Moody's base case assumes a sharp contraction in the Indian economy in fiscal 2021 before returning to modest growth in...

21 Aug 2020 2:06 PM IST

The ED has recently transferred shares seized worth approximately Rs. 6,600 crore to State Bank of India (SBI) led consortium as per the order of PMLA Special Court, Mumbai. (Image credit: Facebook)

ED transfers Rs 9,371.17 cr seized assets of Mallya, Nirav, Choksi to...

Vijay Mallya, Nirav Modi, and Mehul Choksi had allegedly defrauded various PSBs by siphoning off the funds through their...

23 Jun 2021 12:59 PM IST

SBI is Indias largest public sector lender. (Photo: PTI)

Except for PNB, no unauthorised LoUs issued by PSBs: SBI official

RBI has stopped banks from issuing LoUs and Letters of Comfort for trade finance for imports into the country.

15 March 2018 3:54 PM IST

The survey said the problem has continued to fester as Non-Performing Assets (NPAs) of the banking system (especially public sector banks) keep increasing, while credit and investment keep falling.

PSBs wrote off Rs 28,781 crore in FY18

It said that the amounts written off (including through compromise) by PSBs were Rs 27,231 crore during FY13.

14 March 2018 1:57 AM IST

The survey said the problem has continued to fester as Non-Performing Assets (NPAs) of the banking system (especially public sector banks) keep increasing, while credit and investment keep falling.

Rs 2.30 lakh crore NPAs written off in 5 years

In the last few years the profit of Indian banks has been coming down due to write-offs and provisioning for bad debts.

10 March 2018 2:04 AM IST

Finance minister Arun Jaitley speaks during a press conference in New Delhi. (Photo: PTI)

7 PSU banks set to get Rs 28,615 crore lifeline in 4 days

Of the 7 state-owned banks, Bank of India may get the highest amount of Rs 10,086 crore.

28 Dec 2018 11:21 AM IST

Finance ministry increases bank recap fund by Rs 35,000cr

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

21 Dec 2018 1:02 AM IST

Given the higher NPAs and weak capitalisation of PSBs, ICRA had earlier projected private sector banks market share in the banking sector advances to increase to 38 per cent 40 per cent by 2020 from 27.5 per cent as on March 31, 2017. (Representational image)

State banks recover USD 8.69 billion of bad loans in April-September

Banks have raised 244.4 billion rupees from the market this fiscal year.

20 Dec 2018 5:45 PM IST

Positive start for domestic stock markets lent support to rupee. (Photo: PTI)

PSBs recover bad loans worth Rs 2.33 lakh cr in 4 years to FY18:...

Write-offs of NPAs is a regular exercise of the banks to clean up their balance sheet, tax benefit and capital...

14 Dec 2018 5:57 PM IST