Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report
State-owned banks' non-performing loans are likely to rise by 2-4 percentage points, which will put up to $15 billion recapitalisation pressure on the government in FY21, a foreign brokerage firm said on Tuesday
Govt reassures state banks it is ready to provide capital support; coronavirus pandemic may lead to surge in bad loans
The government may need to make a provision of at least Rs 20,000-25,000 crore ($5.90 billion) for capital infusion in state-run banks
Merger of 10 PSU banks comes into effect from today; 10 things you need to know about implications of govt's move
10 PSU banks are being amalgamated with a larger bank, referred to as the anchor bank
'Difficult to give timeline': Nirmala Sitharaman says coronavirus economic relief plan to be announced 'as soon as possible'
Asked about relief measures for the financial sector, Nirmala Sitharaman said, 'SEBI has come up with a list of regulations which will also sort of keep the markets a bit stable. But I can't say what I am doing for the markets.'
Finance Minister Nirmala Sitharman on Wednesday said the government is keeping a close watch on the impact of the coronavirus outbreak on the Indian economy
Bank strike from today: Over 10 lakh employees to take part in 2-day stir; services at branches, ATM services to be hit
"Today's talks with Indian Banks' Association (IBA) failed on-demand from unions, so strike call stands," AIBEA General Secretary C H Venkatachalam said on Thursday
Slowdown in auto sector cyclical; govt taking steps to support through release of Rs 70,000 cr to PSU banks
Citing reasons for the slowdown in the auto sector, Javadekar said an increase in axle load limit for commercial vehicles by up to 25 percent expanded freight capacity, leading to shrinkage of new vehicle demand
The Odisha Finance Secretary has written the letter to departments asking them to keep in mind the norm that in the eventuality of closure of any bank the deposits are insured only up to Rs 1 lakh and not beyond that, said reports.
Daily Bulletin: Postpaid mobile services in J&K to resume from 12 pm today; Nirmala Sitharaman to meet CEOs of public sector banks today; day's top stories
Here are today's top stories: Postpaid mobile services in Jammu and Kashmir to resume from today, internet only at tourist spots; Haryana Assembly elections 2019: Narendra Modi, Rahul Gandhi to campaign for upcoming polls; and more
Finance Minister Nirmala Sitharaman to meet CEOs of PSU banks today; to review fund flow to NBFC, MSME sectors
NBFCs, including housing finance companies (HFCs), came under stress following a series of defaults by the group companies of IL&FS in September last year
Lesson from PMC Bank scam: Forensic, active supervision needed; RBI and govt must work to help whistleblowers, protect depositors
The PMC Bank episode compares in scale (with an approximate exposure of Rs 6,500 crore) with the Rs 7,855-crore Satyam Computer Services scandal, which has been dubbed as India's biggest accounting fraud.
The meeting is expected to review fund flow to stressed NBFC and MSME (micro, small and medium enterprises) sectors, sources said
Rates have been cut, debt funds have emerged as a viable alternative, FDs are losing the tax game and they provide limited flexibility.
Loan melas have been recipe for NPA disaster for PSBs starting with Rajiv Gandhi era; Narendra Modi govt should learn from past
This announcement must be a Déjà vu moment for many senior and retired bank officials who would have participated in the 80’s loan melas and seen its consequences.
Daily Bulletin: IMD issues red alert in Mumbai; Transport associations in Delhi, Noida strike over MV Act; day's top stories
Here are today's top stories: IMD issues red alert in Mumbai; schools and colleges to remain shut as precautionary measure; Defence minister Rajnath Singh to fly in Tejas fighter jet in Bengaluru today; and more
Finance Secretary to meet heads of PSU banks on 19 September; will review progress made by lenders to help boost growth
Finance Secretary Rajiv Kumar is scheduled to meet heads of public sector banks on 19 September to review progress made by them to help boost growth, including follow up action after reduction of interest rates by RBI, sources said on Thursday
Economic Survey 2019: CEA’s sage advice to Narendra Modi govt to spend wisely is critical to overcome slowdown phase
The Economic Survey suggests the government should ensure the implementation of populist schemes does not adversely impact the path to fiscal consolidation
Vijay Mallya asks State Bank of India to disclose 'legal fees' spent to recover money from him in United Kingdom
Mallya accused the SBI lawyers representing SBI in the UK of “making presentations on their accomplishments against him” at the "cost of Indian taxpayers' money."
India needs to bolster level of capitalisation of government-owned banks as bad loans remain high: IMF
Noting that the level of non-performing loans in India remains high, the International Monetary Fund has favoured bolstering the level of capitalisation of some banks, particularly government-owned banks
Vijay Mallya seeks to use Jet Airways crisis as safety valve, urges banks to take his money to save beleaguered airline
Vijay Mallya questioned why public sector banks pitched in to save Jet Airways but let his company, Kingfisher Airlines, fail ruthlessly