E-PaperPsbs News
Govt seeks Parliament nod to infuse ₹20,000 crore in public sector banks
The step assumes significance as capital infusion will provide support to state-owned lenders as the deepening covid-19 crisis that has put borrowers under pressure
2 min read14 Sep 2020PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme
The government has been prodding banks to increase credit disbursal to support small businessesECLGS was announced as a part of the government’s ₹20 trillion financial package to help the poor and the small businesses tide over the covid-19 crisis
1 min read19 Jun 2020Covid-19 impact: FinMin asks PSBs to ‘defer avoidable expenditure’
The development comes days after the finance ministry asked all departments and ministries to not initiate new schemes in the current financial yearThe development comes days after the finance ministry asked all departments and ministries to not initiate new schemes in the current financial year
1 min read17 Jun 2020Defer avoidable expenditure, reduce costs: Govt tells public sector banks
The advisory also comes against the backdrop of Punjab National Bank recently purchasing three Audi cars worth over ₹1.30 crore for travel of its top executivesSchemes that have already been approved for the current financial year would remain suspended till March 31 next year or further orders
2 min read17 Jun 2020Covid-19 Impact: Banks to feel capital pinch as asset quality to take hit
The impact will be more pronounced for PSBs, where the Centre has not proposed any capital infusion for FY21The government had infused ₹70,000 crore into state-owned banks in fiscal 2020
3 min read2 Apr 2020Mega bank merger marks new dawn for Indian banking space: Finance Ministry
The merger has created the second largest nationalised bank of the country - both in terms of business and branch network after the State Bank of IndiaThere were as many as 27 PSBs in 2017. The total number of public sector banks in the country has come down to 12
3 min read1 Apr 2020PSB mergers the new hurdle for resolutions under IBC
Small banks postpone key decisions on resolution to stay risk averse as merger date nearsIBC resolution easier when acquiring and target banks are in the same consortium
2 min read27 Mar 2020Banking industry in a fix as merger date for PSBs nears
Some small banks want merger to be delayed, while others want it completed by 1 April
2 min read27 Mar 2020PSBs may regain depositors’ trust amid Yes Bank debacle
Thanks to the nationalization of banks first in 1969 and then again in 1980, Indian savers have had great faith in state-run banks
2 min read8 Mar 2020Mega bank consolidation: Meeting 1 April deadline appears challenging
The merger of Oriental Bank of Commerce with Punjab National Bank and Andhra Bank with Union Bank of India will have similar issues, the official saidLast year in August, the government announced the consolidation of ten public sector banks (PSBs) into four mega state-owned lenders
3 min read23 Feb 2020Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared