Page 18 - Public Sector Banks

Nirmala Sitharaman launches EASE 5.0 'Common reforms agenda' for PSBs

Enhanced Access and Service Excellence-EASE on Wednesday has evolved over four annual editions from FY19 to FY22 and has catalyzed reforms in diverse areas in Public Sector Banks

PSBs to focus on 3-yr roadmap to support SMEs, farming under EASE reforms

The roadmap will be based on broad themes of business growth, profitability, risk, customer service, operations, and capability building

Public sector bank unions plan strike on June 27 over pension, govt policy

Employees of public sector banks on Wednesday threatened to go on strike on June 27 to press for issues related to pension and the demand for five-days-a-week work. The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW), decided to go on strike. Their demands included updation and revision of pension for all pensioners and doing away with the national pension scheme and restore old pension scheme for all bank employees, AIBEA general secretary C H Venkatachalam said after the meeting of UFBU. AIBOC General Secretary Soumya Dutta said that about 7 lakh workers across the country would participate in the strike, if the government and management of banks are insensitive to the unions' demands. Banking operation may be impacted if the strike materalises.

PSBs to hold credit outreach drive across all districts on Wednesday

State-owned lenders to address public queries on credit facility and enrolment for various schemes

PSBs to hold massive credit outreach drive across all districts tomorrow

Public sector banks will undertake a massive credit outreach drive on Wednesday and will entertain public queries on loan facilities and enrolment in government schemes

Appointment of managing directors at three PSBs gets govt's approval

The appointments are in line with the recommendations made by the Banks Board Bureau

Advance action on bank privatisation underway, says DFS secretary

In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs in the year and approved a policy of strategic disinvestment of public sector enterprises.

Best year for Indian banks, but there are new challenges

As we celebrate the banks' performance in FY22, let's not throw caution to the wind

Top headlines: RBI's move on 5 NBFCs, bank privatisation, and more

Here are the top headlines on Thursday morning

Bank of Maharashtra eyes 25-30% jump in net profit in FY23 with NII growth

In the fiscal ended March 31, 2022, the Pune-based lender reported an over two-fold jump in its profit after tax (PAT) at Rs 1,152 crore, as against Rs 550 crore for the year ended March 2021

Equity funds bet on sectors likely to gain from an economic revival

These include capital goods, public sector banks, automobiles, oil and gas and utilities

State-run banks post 81% rise in Q4 profit; NII up 18.5% to Rs 70,825 cr

Enhance capital adequacy and provisions for bad loans

Expect slippages, credit cost to come down further: Bank of Baroda MD & CEO

Sanjiv Chadha, in an interview with Manojit Saha, says it was a conscious decision not to chase corporate loans and focused on segments offering higher margins

Union Bank Q4 net up 8.26% on improvement of net interest margins

It had posted a net profit of Rs 1,330 crore in Q4FY21

Finance ministry invites applications for CVOs in PSU banks, insurers

The finance ministry has invited applications from eligible candidates for the position of Chief Vigilance Officers (CVOs) in various public sector banks and insurance companies. Applications have been called for CVO positions in five lenders, including Canara Bank, Indian Bank and Bank of India. Besides, CVO position would also fall vacant in New India Assurance Co and IFCI during this year. Position of CVO would also be filled at Punjab National Bank, Punjab & Sind Bank, General lnsurance Corporation and National Bank for Agriculture and Rural Development (Nabard). Applications are invited for filling up the posts of Chief Vigilance Officers (CVOs) in various Public Sector Banks (PSBs), Public Sector Insurance Companies (PSICs) and Financial Institutions (FIs), according to a notification issued by the Department of Financial Services, under the finance ministry. Selection of the candidates shall be made by the government in consultation with Central Vigilance Commission (CVC) .

9 private banks on account aggregator system, 5 public sector banks in line

Among large private sector lenders, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank are live on the AA system

Public sector banks sufficiently capitalised, says MoS Finance

The government has infused capital amounting to Rs 2,86,043 crore in public sector banks (PSBs) during the last five years and they are sufficiently capitalised, Parliament was informed on Tuesday.

Calibrated approach to bank privatisation needed: Industry leaders

The government sounded the bugle on privatisation of state-owned enterprises in its recent Budget

PSBs disburse Rs 41,269 cr 'loans in 59 minutes' over three years

201,000 loan proposals of Rs 39,580 crore disbursed in the business loan category; 17,791 retail loans amounting to Rs 1,689 crore also disbursed

No public sector bank faced loss in last three quarters, says govt

No plan to set up fiscal council: FinMin