New MSME credit assessment model for PSBs likely to be launched in March 2025: Report
New Delhi/IBNS: The new micro, small and medium enterprise (MSME) credit assessment model, based on digital footprints for public sector banks (PSBS), is expected to be unveiled by the end of March next year (2025), Business Standard reported, citing sources in the know.
Proposal to extended retirement age of SBI chairperson, MDs of PSBs put on hold
Mumbai: The government has paused a proposal to increase the retirement age of the State Bank of India (SBI) chairperson to 65 years and that of managing directors of other public sector banks (PSBs) to 62, according to sources cited by Moneycontrol.
FM Nirmala Sitharaman asks PSBs to make 'concerted' efforts for special deposit drives
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Monday (August 19) called for a collaborative approach between banks, the government, regulators, and security agencies, amid rising cyber threats.
SBI to raise Rs 10,000 cr via infra bonds: Report
Mumbai: The State Bank of India (SBI), the country's largest lender, has initiated discussions with market participants to raise approximately Rs 10,000 crore ($1.20 billion) through infrastructure bonds, reported Reuters on Tuesday, citing two merchant bankers.
New Delhi: The Central Bureau of Investigation (CBI) on Thursday conducted raids at 67 locations in connection with suspicious IMPS transactions amounting to about Rs 820 crore in multiple UCO Bank accounts.
Deposits and advances of PSBs grew by 15.8% in FY23
New Delhi: The growth of deposits and advances of PSBs has improved from 8.2% and 9.8% in FY2021-22 to 9.3% and 15.8% in FY2022-23.
UCO Bank posts highest ever annual net profit of Rs 1862.34 cr for FY23
Mumbai/IBNS: Public sector lender UCO Bank on Tuesday posted the highest ever annual net profit of Rs 1862.34 crore for the year FY23, a y-o-y growth of 100.30% against Rs 929.76 crore for FY22.
Bill amending public sector banks may allow govt complete exit: Report
New Delhi: The government may table a bill to amend the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 to facilitate the privatisation of state-run banks in the upcoming session of parliament, media reports said.
Public sector banks to pay record Rs7,867 crore dividends to govt this year
New Delhi: State-run banks will give the government a whopping Rs7,867 crore in dividends this year, indicating better profitability and capital position, mainly due to falling stock of non-performing assets, media reports said.
FM Sitharaman to hold meeting with PSB heads
New Delhi: Finance Minister Nirmala Sitharaman will meet the heads of public sector banks (PSBs) on April 23 to review the performance of banks and the progress made by them on the various government schemes.
Ten PSBs to merge, form 4 banks from April 1
New Delhi/UNI: Six public sector banks will go down in the pages of history with effect from April 1 after ten PSBs merge into four from April 1, 2020 to help meet the needs of the growing economy and create large banks globally.
Cabinet recommends amalgamation of 10 PSBs into 4 from Apr 1
New Delhi/UNI: The Union Cabinet on Wednesday approved the mega consolidation of 10 PSBs into four.
Nirmala Sitharaman assures Public Sector Banks in good health, have enough liquidity
New Delhi: Union Finance Minister Nirmala Sitharaman on Monday said that the process of mega merger Public Sector Banks “is going on smoothly” and progressing in the right direction.