The country's economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks (PSBs) to boost credit growth, an official said on Friday
Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said.
Union Bank on Wednesday said it has become the country's fifth-largest public sector lender after amalgamating Andhra Bank and Corporation Bank into itself
The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday
Public sector banks with about 80 percent of banking operation have taken steps to ensure the safety of its staff and uninterrupted banking services to customers.
The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from 1 April, 2020
Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending
According to a senior banker, information technology integration of Vijaya Bank and Dena Bank with Bank of Baroda is still in process even after 10 months of merger.
Union Bank of India (UBI) on Monday said its standalone net profit for December quarter 2019 grew manifold to Rs 574.58 crore due to fall in provisioning for bad loans
Prime Minister Narendra Modi on Thursday underlined the need for working together to make India a $5 trillion economy, while stressing that the government has been able to maintain macroeconomic stability amid tough global environment.
SBI said it will sell two NPAs—Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on 17 January
In a notice issued on Thursday, SBI said it will sell two NPAs- Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on 17 January.
Allahabad Bank shares jump 11% on fresh capital infusion; lender to receive Rs 2,153 cr from govt this financial year
Allahabad Bank had not featured in the list of banks that were approved a total fresh capital infusion of Rs 55,250 crore, as announced on August 30 by the government.
On 9 December, the country's largest lender SBI announced the reduction in its marginal cost of MCLR by 10 basis points across all one-year products.
Punjab National Bank and Union Bank of India on Monday said they have received in-principal approval from the government for their amalgamation with other public sector banks
DHFL crisis: High Court says mortgage financier can provide payments to SBI, other lenders with which it has securitisation deals
DHFL can make all the future payments as well as those payments that were due since October 10 when the court had passed the earlier order, the judge said
The MSME sector, which is the backbone of the economy, needs a lot of support from the banking industry, said Thakur
Credit growth at banks falls to lowest level in nearly two years as slowing consumption weighs on demand: RBI report
Lending growth by banks had nearly halved to 8.8 percent at the end-September from the start of the year.
Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
The complete harmonisation among the three entities would take another 12 to 14 months after the merger
Corporation Bank on Monday said the board has given its in-principle approval for the merger with Union Bank of India
Union Bank board okays merger of Andhra, Corporation Bank with itself; clears Rs 17,200-cr capital infusion
Union Bank of India on Monday said its board of directors has approved the merger of Andhra Bank and Corporation Bank with itself and given nod for a capital infusion of Rs 17,200 crore in the current financial year