Budget Banking and Financial Services

We Need More SBIs, But Some Nationalised Banks Simply Don't Get Well: Finance Minister

We Need More SBIs, But Some Nationalised Banks Simply Don't Get Well: Finance Minister

Edited by Nirmalya Sen | Monday February 01, 2021

Budget 2012: Finance Minister Nirmala Sitharaman said asset reconstruction and management company will be set up for stressed assets of banks

Finance Minister Proposes Rs 20,000 Crore Recapitalisation For Public Sector Banks

Finance Minister Proposes Rs 20,000 Crore Recapitalisation For Public Sector Banks

Press Trust of India | Monday February 01, 2021

Budget 2021: In September 2020, Parliament approved Rs 20,000 crore capital infusion for PSBs as part of the first batch of Supplementary Demands for grants for 2020-21

Budget 21: Bad Bank to Handle Record Levels of Soured Debt

Budget 21: Bad Bank to Handle Record Levels of Soured Debt

Suvashree Ghosh, Bloomberg | Monday February 01, 2021

Budget 2021: The firm will hold problem loans for banks, which can then be sold on to investors at a reduced price, according to plans outlined by the Finance Minister

Budget 2021: FDI Limit In Insurance Hiked To 74%

Budget 2021: FDI Limit In Insurance Hiked To 74%

Edited by Peter Noronha | Monday February 01, 2021

Union Budget 2021: The Insurance Act 1938 will be amended to "increase the permissible FDI limit from 49 per cent to 74 per cent in insurance companies and allow foreign ownership and control with safeguards," the finance minister said

Government Should Bring Down Its Stake In Public Sector Banks: CII

Government Should Bring Down Its Stake In Public Sector Banks: CII

Edited By Abhishek Vasudev | Tuesday January 19, 2021

CII has also called for transformation of old public sector banks (OPSBs) wherein government should facilitate the takeover of old public sector banks

Industry Body Calls For Creating Multiple Bad Banks To Buy Bad Loans In Budget 2021

Industry Body Calls For Creating Multiple Bad Banks To Buy Bad Loans In Budget 2021

Edited By Abhishek Vasudev | Tuesday January 12, 2021

Banks may see bad loans double despite signs of an improvement in the economic impact of the Covid-19 pandemic, a report from RBI said

Bad Loans May Rise Significantly, Says RBI's Financial Stability Report

Bad Loans May Rise Significantly, Says RBI's Financial Stability Report

Reuters | Tuesday January 12, 2021

The gross Non-Performing Assets of banks may increase from 7.5 per cent in September 2020 to 14.8 per cent under a severe stress scenario

Budget 2020 Light On New Structural Reforms: Fitch

Budget 2020 Light On New Structural Reforms: Fitch

Press Trust of India | Wednesday February 05, 2020

Budget 2020: The credit ratings major projected that the government debt will remain close to 70 per cent of GDP throughout the period to 2021-22.

As Budget Falls Short, RBI May Focus On US-Style Operation Twist

As Budget Falls Short, RBI May Focus On US-Style Operation Twist

Anirban Nag, Bloomberg | Monday February 03, 2020

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets, but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs.

Budget 2020: Insurance Cover For Bank Depositors To Be Raised To Rs 5 Lakh

Budget 2020: Insurance Cover For Bank Depositors To Be Raised To Rs 5 Lakh

Edited by Peter Noronha | Saturday February 01, 2020

Deposit insurance is a protection cover against losses on bank deposits if a bank fails financially and has no money to pay its depositors.

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