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Sitharaman is scheduled to meet heads of public sector banks on August 25 to review financial performance of the lenders and progress made by them to support the economy battered by COVID-19 pandemic
The Institute of Banking Personnel Selection (IBPS) on Wednesday said the online registration process for conducting the preliminary and main examinations for recruitment of clerks in public sector banks is temporarily stopped due to unavoidable circumstances.
The decision, which comes in the wake of the severe second wave of Covid-19, was announced jointly at a press conference by the State Bank of India and the Indian Banks' Association (IBA).
Compound interest support scheme for loan moratorium cost the government Rs 5,500 crore during 2020-21 and the scheme covered all borrowers including the prompt one who did not avail moratorium.
Bank employees continued their strike on the second day following the call off the United Forum of Bank Union (UFBU) on March 16. UFBU had called a two-day nationwide strike against the privatisation of Public Sector Banks and 'retrograde banking reforms'. Few bank services are affected in wake of strike across the country. UFBU, which has 9 bank unions under it, has called for a two-day nationwide strike started from March 15.
At present, four public sector banks are under the RBI''s Prompt Corrective Action (PCA) framework, which puts several restrictions on them, including on lending, management compensation and directors'' fees.
Finance Minister Nirmala Sitharaman on Tuesday said the public sector banks (PSB) sanctioned Rs 5.95 lakh crore in just over two months, between March 1 and May 8, to over 46.74 lakh accounts. The borrowers for the sanctioned loans include MSMEs, retailers, farmers and corporate sectors.
The review meeting of Finance Minister Nirmala Sitharaman with CEOs of public sector banks (PSBs) scheduled for Monday has been postponed.
As novel coronavirus pandemic that has impacted our economy, there was a dilemma if the merger would be postponed for some time or not , the Reserve Bank of India cleared the air that the merger of 10 PSUs will still take place on the set date i.e. April 1, 2020.
The United Forum of Bank Unions (UFBU), which represents nine trade unions, has given a call for a two-day strike beginning January 31.
Finance Minister Nirmala Sitharaman on Saturday instructed public sector banks to clear pending vigilance cases against their officials for alleged malpractices. The minister also said no Merchant Discount Rate (MDR) charges will be applicable on select modes of payment from January 1.
Banks strike alert! Bank employees unions to go on strike on October 22 against the Centre's decision to merge 10 state-run Public Sector Banks (PSBs) into four. The two unions of bank employees -- All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI) have jointly called for the strike.
About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points following a cut in the key policy repo rate by the RBI last month.
Public sector bank stocks, led by Canara Bank, Union Bank and Punjab National Bank, tumbled up to 10.6 per cent on Tuesday after the government announced the merger of 10 state-run lenders into four.
After Hyderabad, it is now the turn of Andhra Pradesh to disappear from the list of public sector banks, depriving both Telugu states of their identity in the banking sector.
Objective of the bank mergers is to make them global sized banks, Finance Minister Nirmala Sitharaman said. With these mergers, the number of PSBs will come down to 12 from 27 in 2017.
Sitharaman said that banks will launch repo rate and external benchmark-linked loan products that will lead to reduced easy monthly instalments for housing, vehicle and other retail loans.
The CBDT has directed the Income-Tax Department to share in "public interest" details of assets and accounts of all such loan defaulters against whom a public sector bank has made a plea to it.
Mallya had last month filed his application in the UK High Court, seeking permission to appeal against an extradition order signed by the British Home Secretary.
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