Bank Nationalisation

Bank Holiday: As per the RBI, banks will stay shut on second and fourth Saturdays of the month, and Sundays, when in-branch services won't be available but customers can carry out digital transactions

RBI announced the list of bank holidays in light of different elements including national/state holidays, cultural or religious recognition, functional necessities, government declarations and so on

Private sector Tamilnad Mercantile Bank has reported 11.53 per cent rise in its April-June quarter net at Rs 261.23 crore, the bank said on Monday. The Tuticorin-based over Century old bank had registered net profit at Rs 234.21 crore during the corresponding period of last year. Total business of the bank during the quarter under review grew by 9.40 per cent to Rs 84,300 crore as compared to Rs 77,056 crore registered in the corresponding quarter of last year, the bank said in a statement. The retail, agriculture and micro, small and medium enterprises (RAM) portfolio witnessed an increase of 12.86 per cent during April-June 2023 quarter at Rs 33,574 crore from Rs 29,749 crore registered in the same period of last year. During the quarter ending June 30, 2023 the bank said it opened six branches. To tap the emerging micro, small and medium enterprise market with focused attention, the bank said MSME Loan processing hub has been set up in Chennai, Madurai, Coimbatore and Tuticor

Aadhaar is a 12-digit unique identity number provided by the UIDAI to the residents of India after a certain verification process

The bank's share closed at Rs 179.05 a piece on BSE, down 4.7% from its previous close while the broader Sensex was down 1.46%

Merely bringing down the government stake below 51 per cent may not find any taker for the PSBs. Is the government ready to give up its powers?

Here are the top BS Opinion articles of the day.

Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve people

In the recent clamour for their re-privatisation, we seem to have forgotten the rationale for bank nationalisation and the crucial role public sector banks continue to play in war against poverty

A key question is how the BIC is to be funded. To start with, it may have to be a wholly-owned government entity

The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, writes T N Ninan

India Inc could make a re-entry into commercial banking - 40 years after the last round of bank nationalisation in 1980

If even a modest but growing social welfare package is to be affordable, the public sector has to perform or be disbanded so that the govt can shut down one of the two cash burners, writes T N Ninan

Indira Gandhi's brilliance as a politician lay in her ability to transform the most sordid political intrigue into high ideological disputation

Private banks are about to outpace the state-owned ones, but the government's job should be to deliver a financial sector where health is not determined by ownership, writes T N Ninan.