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Topic: Public Sector Banks

Raghuram Rajan | File Photo | Simon Dawson | Bloomberg

Raghuram Rajan tried to find bad loans. The dirt that came out was thrice his expectation

In Bad Money, Vivek Kaul writes how public sector banks refrained from recognising bad loans because that meant setting aside money to meet these losses.
Rupee (Representational image) | Dhiraj Singh | Bloomberg File photo

How government intervention is wrecking India’s banking system

A summary of Episode 407 of #CutTheClutter where Shekhar Gupta explains why the government should move out of India’s banking system.
Union Finance Minister Nirmala Sitharaman chairs a pre-budget meeting with industrialists, at Finance Ministry in New Delhi, Thursday, Dec. 19, 2019. | PTI

Public sector banks to clear pending vigilance cases against officials: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman also says no Merchant Discount Rate charges will be applicable to select modes of payment from 1 January.

Does India need PSU banks, asks Subbarao, UAPA Bill ‘recipe for abuses’ says Gautam Bhatia

The best of the day’s opinion, chosen and curated by ThePrint’s top editors.

Public sector banks set to ‘fly’, but rupee loses strength

The best cartoons of the day, chosen by the editors at ThePrint.
Punjab National Bank

Merger of banks raises more questions than solutions it offers India’s slowing economy

Consolidation of banks reduces competition, raises fears of cartelisation on interest rates and reduces the hope of privatisation.

50 yrs of nationalisation: Is Modi govt worsening PSU banks’ problems or resolving them?

Fifty years ago, on 19 July 1969, the Indira Gandhi government had nationalised 14 banks. Even today, PSUs control a substantial percentage of the deposits.
People queuing outside bank after demonetization

Banks Board Bureau, Modi govt’s answer to woes of PSU banks, is yet to start delivering

Since 2016, PSBs’ performance has only gone downhill despite Banks Board Bureau’s mandate to reinvent them for greater efficiency, among others.
RBI

To address bad loans, govt asks RBI to identify public sector banks that can be merged

Govt has also asked RBI to suggest a time frame for the consolidation to create better-capitalised lenders and improve regulatory oversight.
Punjab National Bank

Govt set to infuse about Rs 2,000 crore into Punjab National Bank by next week

PNB will issue preferential shares to the government to raise the capital to meet interest obligations on perpetual bonds.

On Camera

No reason to believe Biden won’t be as friendly to Modi and India as Trump is

All administrations will see the world through the prism of US national security interests and India’s importance – with or without Modi – will weigh heavily.
Drought in India

Global GDP could fall 20% over next 80 years due to climate change, economists warn

According to an analysis, tropical and subtropical countries whose average temperatures are already warmer than 15° C today face catastrophic economic degradation.

Defence

An Apache attack helicopter of the IAF during night operations in Ladakh Monday | ANI

How IAF has played a critical role in the India-China stand-off at Ladakh

IAF has been showing off its night-flying capability in Ladakh, with fighter jets like the MiG-29 and the Sukhoi-30 carrying out round-the-clock flying.
Illustration by Soham Sen | ThePrint

It’s time for China, Pakistan, even India to rethink the fantasy Modi called expansionism

India, China and Pakistan all want territory from another. But it’s a pursuit doomed to fail as they can’t get it without annihilating the other.