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Latest Articles in public sector banks

FinMin Asks PSBs To Expedite NPA Resolution; Focus On Credit Growth

During the Iconic Week celebration of the finance ministry earlier this month, banks conducted outreach programmes across the country where eligible borrowers have sanctioned loans on the spot

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Frauds In Public Sector Banks Fall 51% But Not Falling Fast Enough: RBI

The 12 PSBs (Public Sector Banks) had reported frauds worth ₹ 81,921.54 crore in preceding fiscal 2020-21, the Reserve Bank has said in response to an application under the Right to Information (RTI) Act

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LIC IPO: FinMin Prohibits Transfer Of Associated Bank Employees

The Finance Ministry has issued a directive related to employees to the heads of public sector banks. In this direction, it was said that banks associated with LIC IPO should not be transferred till May 15

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FinMin Urges PSBs To Soar Up Balance Sheet; Raise Capital From Market

During the meeting with top executives of PSBs at Manthan 2022, Financial Services Secretary Sanjay Malhotra exuded confidence that public sector banks will continue to strive and perform better on all metrics, including profitability

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FM To Meet PSBs' Heads On April 23 To Nudge Them For Credit Expansion

This is the first full review meeting after presentation of Budget 2022-23. Banks would be urged to sanction loans for productive sectors to accelerate revival of the economy, sources said. According to sources, there would be a comprehensive review of various segments and progress in government schemes including Emergency Credit Line Guarantee Scheme (ECLGS)

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PSBs Sufficiently Capitalised: Bhagwat Karad

The government infused about Rs 3 lakh crore in public sector banks between 2017-18 and 2021-22

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No PSB Employees Found Involved In ABG Shipyard Fraud Case: Sitharaman

Sitharaman said that post-failure of the CDR and classification of the account as NPA, the lender banks appointed EY to conduct a forensic audit of the company. The agency had submitted the forensic audit report (FAR) in January 2019

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Fitch Ratings Report Shows State-owned Banks Booking Better Profits In Next Fiscal

Noting that regulatory forbearance has suppressed state-owned banks' immediate capital requirements by deferring recognition of stressed loans, the report said private banks are most competitive on this front, too

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FinMin Sitharaman Chairs Review Meeting With Heads Of Public Sector Banks

During the review meeting, Sitharaman assessed various steps taken by PSBs in implementing pandemic-related measures initiated by the Centre and RBI and readiness to tackle possible future disruptions due to the third wave.

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PSBs Recover More Than Rs 5.49 Tn Over Last 7 Fiscal Years, Says FM In LS

The government has taken comprehensive steps to reduce NPAs and to effect recovery, enabling public sector banks to recover more than Rs 5.49 trillion over the last seven fiscal years

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PSBs have done very well, they’re showing clear profits: FM Sitharaman

Banks to go for second credit outreach in all districts of the country from October

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Finance Minister To Meet PSB Heads; First Physical Review Meet Since COVID Outbreak

Sitharaman said that the Union Government is all set to do anything that is needed to revive and support the Coronavirus pandemic hit economy, hence this meeting is considered to be crucial.

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Banks Board Recommends 10 Names For Exec Director Posts In PSU Banks

The Banks Board Bureau interfaced with 40 candidates from various public sector banks over a period of two days for the posts of Executive Directorin PSBs, the Bureau said in a notification.

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IDBI Bank Strategic Sale: Govt Invites Bids From Merchant Bankers, Legal Firms

The transaction advisor will also assist in preparation of all documents like Preliminary Information Memorandum (PIM), organise roadshows to generate interest among the prospective buyers and suggest measures to fetch optimum value.

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Sebi Exempts Heineken International From Open Offer Obligation In UBL Case

The exemption is subject to certain conditions, including the proposed acquisitions should be under the relevant provisions of the Companies Act, 2013 and other applicable laws.

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