Public Sector Banks

Government Seeks Parliamentary Nod To Infuse Rs 20,000 Crore Into Public Banks

Business | Written by Sandeep Singh | Tuesday September 15, 2020

The move is aimed at supporting the lenders against a surge in bad loans projected by the Reserve Bank of India due to the coronavirus pandemic and related restrictions.

Banks To Be Catalysts Of Economic Revival, Says Finance Minister

Business | Press Trust of India | Wednesday September 9, 2020

The minister further said banks have to introspect on their core business and also focus on welfare

Ministries, Public Sector Undertakings To Stop Printing Calendars, Diaries: Centre

India News | Press Trust of India | Thursday September 3, 2020

The government on Wednesday said ministries, departments, public sector undertakings and public sector banks will stop physical printing of calendars, diaries and greeting cards.

Government Keen To Speed Up Stake Sale In Four State-Owned Banks: Report

Business | Edited by Abhik Deb (with inputs from agencies) | Tuesday August 18, 2020

The sources said the four lenders in the discussion are Punjab & Sind Bank, Bank of Maharashtra, UCO Bank and IDBI Bank

Government Has Destroyed Financial Institutes, Public Sector Banks: Randeep Singh Surjewala

India News | ANI | Thursday July 30, 2020

Congress leader Randeep Singh Surjewala on Wednesday accused the government of destroying the financial institutes as well as public sector banks. Issuing a press release, Mr Surjewala touched upon a number of issues relating to the country's economy, accusing the government of failure.

Supreme Court Asks Centre To Respond To Plea For Action Against Public Sector Banks

Business | Press Trust of India | Wednesday July 22, 2020

The Supreme Court asked senior advocate Manan Kumar Mishra to approach the Ministry of Finance within two weeks with the representation on the issue.

4, Including Bank Manager, Arrested For Alleged Fraud In Gujarat: Police

Cities | Press Trust of India | Tuesday July 21, 2020

A manager of a Vadodara-based public sector bank was arrested on Monday along with three others for allegedly withdrawing Rs 1.75 crore from a fixed deposit and transferring the money to two other accounts using forged documents, the police said.

Rs 17,705 Crore Sanctioned To MSMEs Under Emergency Credit Line Guarantee Scheme: Finance Ministry

Business | Edited by Abhik Deb (with inputs from agencies) | Sunday June 7, 2020

The government last month announced collateral-free loans worth Rs 3 lakh crore for MSMEs with turnover up to Rs 100 crore

Economy Needs Support From PSBs, Says Union Bank Chief

Business | Friday May 29, 2020

Union Bank chief said that there will be a shift of credit growth in favour of the PSBs

Nirmala Sitharaman Asks Public Sector Bank CEOs To Implement Economic Package

Business | Press Trust of India | Saturday May 23, 2020

Since the Cabinet has already given approval to various schemes announced under the package, operational guidelines have been issued to banks.

3.2 Crore Account Holders Availed RBI's Loan Moratorium, Says Finance Ministry

Business | Edited by Abhik Deb | Sunday May 10, 2020

Government also said that during March and April, the PSBs sanctioned loans worth Rs 5.66 lakh crore for more than 41.81 lakh accounts

Government Reassures Public Sector Banks Of Capital Infusion: Report

Business | Reuters | Sunday April 5, 2020

The government may need to make a provision of at least Rs 20-25,000 crore for capital infusion in state-run banks. However, this number can increase significantly as the situation evolves, the officials said.

Government Asks Banks To Provide Liquidity Support To Corporates: Report

Business | Reuters | Monday March 23, 2020

Banks have been asked to make available an additional 10 per centin funds over and above sanctioned working capital loans, but not exceeding Rs 200 crore per loan account as part of the emergency measures, a senior government official, who did not want to be named, said.

Government "Closely Monitoring" Coronavirus Impact On Economy: Nirmala Sitharaman

Business | Press Trust of India | Thursday February 27, 2020

The Finance Minister said that the process of merger of public sector banks was underway as per the schedule.

Masked Man Robs Rs 1.5 Lakh At Gunpoint From Bank In Delhi

Delhi News | Press Trust of India | Wednesday February 12, 2020

A masked man robbed Rs 1.5 lakh at gunpoint from a public sector bank in west Delhi's Tilak Nagar on Wednesday morning, the police said.