Page 8 - Harsh Kumar

PSBs' share in household deposits falls to 63%, private banks gain ground

The rise of small finance banks has also added to the competitive intensity, suggesting that private sector players will likely continue to expand their share in the market

Public Sector Enterprises are catalysts of growth: President Murmu

President Droupadi Murmu presented the SCOPE Eminence Awards 2022-23, lauding PSUs for driving growth, fostering inclusive development and shaping India's future

FinMin, MeitY assure transition period for Online Gaming Act compliance

Govt to provide transition period for banks and fintechs under Online Gaming Act 2025; compliance clarity to come once rules are notified

Govt to meet banks, fintechs on Aug 29 to discuss Online Gaming Act rollout

The meeting, to be cochaired by secretaries of Department of Financial Services and Meity, will focus on operational measures required to enforce ban on real-money online games, according to source

PMJDY turns 11 with 560 million accounts, ₹2.68 trillion deposits

PM Modi on Thursday said in his post on "X": "When the last mile is financially connected, the entire nation moves forward together

Weighed down by 50% US levy, Indian exporters recalibrate strategy

Vinod Kumar, president of the India SME Forum, said outreach to about 100,000 members has drawn 1,035 responses, with entrepreneurs already mapping ways to cope with the tariffs

AIBOC opposes Centre's plan to privatise IDBI Bank, warns of social risks

Bank officers' union AIBOC has opposed the Centre's plan to privatise IDBI Bank, saying it endangers public trust, social justice and economic sovereignty while risking financial exclusion

Cabinet extends PM SVANidhi scheme till 2030 with ₹7,332 crore outlay

Union Cabinet approves revamp of PM SVANidhi scheme with higher loan limits, RuPay credit cards, cashback incentives and wider coverage for 1.15 crore street vendors till 2030

MSMEs must focus on quality, competitiveness, and global integration: Govt

MSMEs contribute over 30 per cent to GDP and 45 per cent to exports, but leaders stress quality, innovation and Industry 4.0 adoption to boost competitiveness and global integration

Finance ministry allows one-time switch from new pension scheme to NPS

Finance ministry notification enables Central staff under the Unified Pension Scheme to shift to NPS once, not later than a year before superannuation

Step up efforts to expand pension coverage: PFRDA Chairperson S Ramann

PFRDA Chairperson S Ramann called on banks, particularly private lenders, to step up efforts, improve persistency, and enhance financial literacy for broader pension coverage

Public sector banks lose big as pension fund deposits plunge 87% in 5 years

Public sector banks see sharp erosion in pension fund and household deposits, while private banks capture larger shares amid rising demand for returns and convenience

Finance ministry asks PSBs to broaden credit focus amid tariff woes

"PSBs have been told to focus on credit growth across loan sizes, especially in core engineering, manufacturing, agriculture, MSMEs, and startups," the official said

US tariff impact: MSME NPA classification period likely to be doubled

"The proposal to extend the loan default period for MSMEs from 90 days to 180 days is likely to be taken up by the Cabinet soon," the official said

MSME bodies seek urgent liquidity, faster refunds to offset US tariff hit

MSME bodies urge emergency credit, faster RoDTEP and GST refunds, and targeted relief measures to protect exporters from US tariff hikes impacting margins and employment

ED files supplementary prosecution complaint in Amtek Auto bank fraud case

ED files supplementary complaint naming 56 accused in Amtek Auto fraud involving loan diversion, stock manipulation, and asset concealment, with Rs 6,261 crore attached

Major private insurers seek time until 2027 for public listing plans

Irdai has proposed implementing Indian Accounting Standards (Ind AS) 117 - the Indian equivalent of IFRS 17 - from April 1, 2026

ED to widen alleged Rs 17,000 crore bank-fraud investigation probe

The agency is also likely to call for questioning former senior officials of Canara Bank and Bank of Baroda

US tariff shock puts Indian MSMEs at risk, industry seeks govt support

MSMEs, which drive 45% of India's exports, warn of a $30 bn blow as US imposes steep tariffs; industry calls for urgent support and export market diversification

ED raids 12 sites in Rs 750 cr fake input tax credit scam across 3 states

Fresh ED raids across Jharkhand, West Bengal, and Maharashtra target shell firms and suspects linked to Rs 750-cr fake input tax credit scam under PMLA investigation