Sunday, 2 October, 2022
TopicPSB

Topic: PSB

Singed by farm protests, Modi govt holds up privatisation of 2 PSU banks until state polls

The government had listed the Banking Laws (Amendment) Bill, 2021 in the Winter Session of Parliament but it still awaits cabinet approval.

Nirmala Sitharaman asks banks to work with states to push ‘one district, one product’ agenda

Finance Minister Sitharaman further said there should be a simple approach between public sector banks so that exporters are not be made to run between banks to scout for better offer.

Govt will protect interest of workers of state-owned banks that may be privatised — Sitharaman

The finance ministers assurances come amid strikes by bank unions opposing the govt's policy to privatise lenders.

Ministries, public sector banks to stop physical printing of calendars & diaries

The decision has been taken given as using technological innovations for planning, scheduling & forecasting is known to be economical, efficient and effective, an official memo said.

Why public sector banks are struggling to raise capital but private banks are having it easy

ICRA estimates that PSBs need around Rs 60,000 crore in the current fiscal, but these banks are struggling to raise capital despite asset quality challenges.

Bad bank not just necessary but unavoidable in present situation, says former RBI governor

The standard advantage of a bad bank is the entity taking a decision on sale price is different from the entity accepting that price, former RBI governor D Subbarao said.

Sitharaman says banks gave out over Rs 81,000 crore in 9-day loan mela

Finance Minister Nirmala Sitharaman said banks have sufficient liquidity, and efforts were on pass on money to MSMEs from large corporates.

No job losses due to merger of public sector banks, says Arun Jaitley

The finance minister said merging Vijaya Bank and Dena Bank with Bank of Baroda will decrease the cost of lending and NPAs.

Public sector banks have a lot to do with India’s banking crisis

The disproportionate concentration of bad loans in the government owned banking system has a major role to play in the crisis that India is presently facing. 

On Camera

YourTurn

Wild elephants monitored under thermal UAVs in Maharashtra | RESQ Charitable Trust

We monitored wild elephants, leopards in villages with thermal drones first time in Maharashtra

Whether it's monitoring wildlife, mitigating conflict, capturing of wildlife on field, UAVs are effective tools to complement existing on-ground efforts.
A man counts Indian currency notes inside a shop in Mumbai, India | Reuters/Francis Mascarenhas

RBI tells state refiners to reduce dollar buying in spot market, contain sharp fall in rupee

RBI has ensured that $9 billion has been made available at overseas branches of some Indian banks for the country's three state-run refiners to tap, according to sources.

Defence

File photo of former Air Chief Marshal RKS Bhadauria after flying a MiG-21 of 51 Squadron at the Srinagar airbase | ANI

Famed IAF pilot Abhinandan Varthaman’s MiG-21 Squadron bows out from Srinagar today

Known as the ‘Sword Arms’, number-plating of the squadron was done Friday. It has made way for MiG-29s to be the new 'guardian of the Valley'.

India’s hijab supporters will lose even if they win SC battle. Because the real war is political

In a highly polarised time, cornered minorities tend to lean back and protect the roots and fundamentals of what is so dear to them. Politically, it can often be a bad trap.
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