Govt to initiate PSBs’ consolidation process after Q1 results

The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which have to be looked at before a merger decision is taken, said the official… Continue reading Govt to initiate PSBs’ consolidation process after Q1 results

Lenders take stock of progress in NCLT cases

Lenders will work out procedures to follow timelines and coordination in cases taken for resolution at the National Company Law Tribunal (NCLT). Senior public sector bank executives called Monday’s meeting a routine exercise where top bankers reviewed the progress made in work (for cases filed at NCLT). Banks will put in place necessary mechanism to… Continue reading Lenders take stock of progress in NCLT cases

Debtors can’t be allowed to paralyse banking system, says Arun Jaitley

Finance Minister Arun Jaitley on Thursday said public sector banks needed the Banking Regulations Ordinance in order to be able to take decisions without fear of being subjected to investigation later. Replying to a debate on amendments to the Banking Regulations Act, Jaitley, who also holds the defence and corporate affairs portfolios, said the decision… Continue reading Debtors can’t be allowed to paralyse banking system, says Arun Jaitley

Tap equity market: Govt tells 5 PSU banks

Financial News The central government has asked five state-owned banks to raise capital from the markets to meet their requirements for the fiscal year 2017-18. The Department of Financial Services has asked the relatively strong public sector banks (PSBs) — Canara Bank, Bank of Baroda (BoB), Indian Bank, Vijaya Bank, and Syndicate Bank — with… Continue reading Tap equity market: Govt tells 5 PSU banks