The Ministry of Finance has written to public sector banks to reassess their gold loan procedures amid concerns over risky debt as gold prices surge. Read further on Dynamite News:
Prime Minister Narendra Modi on Friday said that in the last seven years, non-performing assets were recognized with transparency in the country and pointed out that multiple reforms were carried out in the financial system and public sector banks in this regard.
: Congress leader Rahul Gandhi on Tuesday criticised the Centre over the privatisation of Public Sector Banks. Full story
Public sector banks have sanctioned loans worth Rs 10,361.75 crore under the 100 per cent Emergency Credit Line Guarantee Scheme, said Finance Minister Nirmala Sitharaman’s office on Wednesday.
The merger of 10 public sector banks (PSBs) to form four big lenders will create more jobs and not lead to any retrenchment as being claimed by some trade unions, Finance Secretary Rajiv Kumar has said.
“PNB, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with business of Rs 17.95 Lakh Crore.” said Union Finance Minister Nirmala Sitharaman.
Reserve Bank of India (RBI) Governor Shaktikanta Das met heads of public sector banks on Monday ahead of the monetary policy review, to gain an understanding of current banking sector, which is facing massive non-performing assets.
Union Finance Minister Arun Jaitley will hold a meeting with Public Sector Banks on Tuesday to discuss banking reforms.
Banks Board Bureau has appointed eleven new Managing Directors in various Public Sector Banks on Wednesday. Full Report..
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