Last year in August, the government announced the consolidation of ten public sector banks (PSBs) into four mega state-owned lenders. As per the plan, United Bank of India and Oriental Bank of Commerce would merge with Punjab National Bank, making the proposed entity the second largest public sector bank.
Reserve Bank of India Governor Shaktikanta Das has said four banks under the Prompt Corrective Action (PCA) framework are taking efforts and they are being monitored.
New stress emerges in agriculture, MSME, commercial vehicle, telecom and realty.
Dheeraj Wadhawan, one of the directors and promoter of DHFL has approached the tribunal with the arguments that they be allowed to be part of the CoC meetings as the former board member of the company. The troubled home financier has been in a liquidity crisis for over a year. The RBI superseded its board on November 20 and placed it under an administrator.
Banks branches will not be open for business today on account of Shiv Ratri. Tomorrow being the 4th Saturday, banks will remain shut. And obviously, they won't be open to customers on Sunday, a weekend. Some banking work like cheque clearance may get affected due to the same. Also get ready to face more inconvenience next month.
The telecom story can be a precursor to other sectors, especially banking and financial services.
Dhanlaxmi Bank was removed from the RBI PCA framework, subject to certain conditions and continuous monitoring, as the bank is found to be not breaching any of the risk thresholds of the framework.
“Mirror, mirror on the wall, who’s the biggest saver of them all?” ”Holidays are over and boy did you shop! Fancy cosmetics and clothes for the women in your...
Stakeholders, including customers and shareholders, of the United Bank of India (UBI) have expressed their disappointment over the government's decision to not retain the identity of the age-old lender in the proposed merged entity, an official said on Thursday.
The group, whose management was superseded by the government in 2018, has submitted the proposal to the Securities and Exchange Board of India (Sebi) but experts say approval could take some time as there are no rules governing the creation of the kind of InvIT proposed by IL&FS.
Technology has transformed the way banks function. Conventional wisdom is to have men with accounting skills. But as machines take over many functions, the human resources need at banks is shifting to engineers and behavioural scientists.
Going ahead, planned or envisaged capex from all sources based on the pipeline projects sanctioned in all preceding years point to a noticeable improvement in 2019-20. The investment cycle appears to be poised to gain momentum in the short to medium term, but its sustainability needs to be watched closely, RBI said.
The UPI, which is a real time fund transfer interface, has significantly scaled since its launch in August 2016 when 92,000 transactions worth Rs 3.1 crore were processed on the NPCI operated platform to over 1.3 billion transactions worth Rs 2.16 trillion in January 2020.