Page 30 - Public Sector Banks

Coronavirus outbreak: Consolidation in PSB space now a reality

Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion.

Bank mergers: Allahabad Bank branches are now Indian Bank branches

Effective April 1, Allahabad Bank will merge with Indian Bank, creating an entity with over 6,000 branches, 4,800 ATMs, 43,000 employees, 120 million customers and business mix of Rs 8 trillion

No disruption in services, all branches to remain open: Bankers assure FM

During the call, she also instructed CEOs to ensure that all branches and ATMs remain open and continue operations

Covid-19 crisis: UBI sets up emergency funding window for corporates, MSMEs

All MSME/agriculture borrowers are eligible for a loan up to Rs 10 crore and others up to Rs 50 crore

Coronavirus: Pressure mounts on govt to defer PSB merger amid lockdown

Banks working towards merging balance sheets before April 1

Coronavirus outbreak disrupts PSB merger as banks put programmes on hold

According to the banks, they have either put the sessions on hold or are opting for e-learning instead of classroom sessions.

PSB merger: Bank logos along lines of BoB, Vijaya and Dena fusion

Logo of the bigger bank to get prominence; Indian Bank name to be retained post amalgamation

Ensure credit not disrupted after bank merger, Finance Ministry tells PSBs

The FM met chief executives of public sector banks which are going to be merged from April 1

Merged public sector banks will ensure no disruption to credit flow: FinMin

The merged public sector banks will ensure that there is no disruption to credit flow and customer experience is enhanced, the finance ministry said on Thursday. Ten public sector banks are to be merged into four from April 1. The finance minister is holding meetings with the lenders to review their preparedness. Finance Minister Nirmala Sitharaman on Thursday held meetings with chief executives of these banks, including Andhra Bank, Corporation Bank and Union Bank of India. "Amalgamating PSBs made a presentation to Hon. FM @nsitharaman on their preparedness. Amalgamated PSBs to ensure no disruption to Credit & enhanced customer experience," the Department of Financial Services said in a tweet. The Union Cabinet had last week approved the mega bank consolidation plan under which Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank; Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into .

FM Nirmala Sitharaman to review bank merger preparedness on Thursday

Banks likely to set up common call centres and monitoring cells

YES Bank crisis: Paying loan? Shift ECS mandate to a nationalised bank

If you are paying a personal/home loan or doing SIPs, shift ECS mandate to another bank. It just might make sense to have one account with a nationalised bank

Statsguru: How PSBs deal with integration in a challenging biz environment

The RBI in December 2019 noted that private sector banks accounted for 69 per cent of incremental loans in 2018-19

PSB merger: Indian Bank announces equity exchange ratio with Allahabad Bank

The government had in August last year announced plans to merge 10 public sector banks (PSBs) into four

Withdrawal limit to 'govt bailout': 10 points about Yes Bank's troubles

Yes Bank has been placed under moratorium and the government is reportedly planning a rescue plan involving a capital injection by a consortium led by State Bank of India.

Taxpayers will be 'big casualty' if govt bails out Yes Bank: Macquarie

Over the past few months, YES Bank has struggled to raise capital - nearly $2 billion - it desperately needs to stay above regulatory requirements

What ails public sector banks? Ownership would be a good place to start

The public sector banking problems are not confined just to NPAs and capital adequacy but the entire approach is flawed

Best of BS Opinion: Banks merger, coronavirus outbreak, and more

Business Standard Opinion pieces for the day talk about bank merger and coronavirus among other issues.

Coronavirus: India tries to revive economy by pushing banks to lend more

Lenders have been asked to focus particularly on 10 states in northeast and central India, regions where less credit has been made available than elsewhere

NCLT Mumbai orders liquidation of Nirav Modi's firm, spells doom for PSBs

This is said to be the first-ever liquidation order for any company embroiled in the fraud schemed by the Modi-Choksi before they fled the country

Cabinet likely to clear PSB merger, decriminalise sections of Companies Act

As many as 43 sections of Companies Act will be decriminalised through Cabinet approval