Centre on August 30 last year announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017. The move was aimed at making state-owned lenders global sized banks

Creation of global sized banks through consolidation will facilitate Modi government's resolve to make India a USD 5 trillion economy by 2024-25, says Minister of State for Finance Anurag Singh Thakur

\"One of the challenges before public sector banks in the near future is the merger of the bank...IT merger needs to be handled very carefully,\" says Kumar

\"Reduction of corporate tax rate is a first supply side move to get private investment back; for many years, India was disproportionally dependent on consumption driving economic growth and not investment. On demand side, we need to get more confidence,\" says Kotak

Budget 2020: Banks and other leading financial institutions are hoping Modi government will announce measures that can revive credit and access to funds

The last six months have seen delays in top-level appointments in PSBs, state insurance companies and the RBI. These institutions need leaders in place for acting fast on integration, re-strategising and also digitalisation

Even as banks lower their NPAs for the year, new areas of stress are emerging that may create headaches for the financial sector and the RBI

PM Modi holds meet with Indian business leaders; Ambani, Tata, Adani attend eventPrime Minister Narendra Modi on Monday interacted with India's top business stalwarts and discussed how to improve economic growth and create new job opportunities. The meeting was attended by top businessmen like Ratan Tata (Tata Sons), Mukesh Ambani (Reliance Industries), Anand Mahindra (Mahindra & Mahindra), Gautam Adani (Adani Industries), Sunil Mittal (Bharti Airtel), Anil Agarwal (Vedanta), ...

Bank strike: The State Bank of India (SBI) has said that it expects a minimal impact of the bank strike on its operations, whereas Bank of Baroda fears the strike will affect its functioning

Finance Minister Nirmala Sitharaman on Sunday said the Centre has taken steps to address the challenges faced by various sectors without waiting for the Budget; State-owned Bharat Sanchar Nigam Ltd has submitted details of 14 properties worth Rs 20,160 crore to the Department of Investment and Public Asset Management (DIPAM) as part of the telecom corporations' ambitious asset monetisation plans, according to its Chairman; Cyrus Mistry has said that he is not pursuing the position of Tata Sons' executive chairman, the office he was unceremoniously terminated from in October 2016, or directorship of any of the Tata group companies. This and more news on News Blast.

Budget 2020: Banks have robust pipeline of recovery from the resolution of both NCLT and non-NCLT cases during this calender year and also headroom for raising capital from the market

Indian Banks Auctions Mortgaged Properties Information (IBAPI) portal is an initiative of Indian Banks Association under the policy of the Department of Financial Services, Ministry of Finance to provide a platform to provide details of mortgaged properties to be auctioned online by Banks, starting with PSBs

State-owned public sector banks need to build stronger buffers to absorb any disproportionate operational losses, while private lenders need to focus on corporate governance, the RBI says

This is primarily due to change in macroeconomic scenario, marginal increase in slippages and the denominator effect of declining credit growth, RBI said in its Financial Stability Report

After seven long years of deterioration in asset quality, especially of corporate loans, banks are looking forward to a clean slate to start with

CRISIL will resolve the rating watch once clarity emerges, post-merger completion, on the merged entity's business and financial profile,says CRISIL

PSBs had posted huge losses in 2017-18 and 2018-19 financial years due to heavy provisioning for non-performing assets and other contingencies, said Minister of State for Finance Anurag Singh Thakur in Parliament

United Bank of India MD and CEO Ashok Kr Pradhan says the sovereign status of the amalgamated entity will not be diluted as government holdings in these banks are very high

High level of slippages is making the Reserve Bank of India jittery. RBI Governor Shaktikanta Das had earlier advised banks to be cautious and prudent in lending to small borrowers

In 2017-18, the 18 public sector banks collected Rs 3,368.42 crore by levying minimum balance penalty