Page 2 Public Sector Banks: Latest News and Updates, Top Stories, Videos, Photos About Public Sector Banks

Economic Survey: PSBs Better In Transmitting Rate Cut Benefit Than Private Peers

The Economic Survey tabled today in the Parliament made a comparison of how the public sector bank and private banks passed on the benefit of key policy rate cut by the RBI to existing and new customer base. As per the ...

FM Launches Doorstep Banking Services By Public Sector Banks

On 9 September, Union Finance Minister Nirmala Sitharam inaugurated Doorstep Banking Services by Public Sector Banks (PSBs), to provide the convenience of banking services to the customers at their doorstep through the universal touchpoints of Call Centre, Web Portal or Mobile ...

RBI Wants Govt To Reduce Stake In PSBs To 26%

In a presentation to the country's PM, the RBI suggested to reduce govt's stake in PSU Banks to 26%, while providing their heads longer tenure such that they manage these organizations more professionally. Currently, government's holding in PSBs is over 50%. ...

India Aims To Reduce State-Run Bank Count To Just 5

The government is aiming at privatising over half of its state-run lenders and lower the count of state run banks to just 5, a source from the government and banking said. In the first phase, there shall be major stake ...

Govt Tells Banks To Suspend New Schemes, Cut Avoidable Expenses This Year

On Wednesday, the government asked state-owned banks to defer avoidable expenditure. Schemes that have already been approved for the current financial year would remain suspended till 31 March next year or till further orders. This comes in the background of cost-saving ...

Merger of PSU banks Effective From 1 April: Things Customers Should Note

In order to make PSU banks in the country competitive on a global scale, the mega merger of ten public sector banks into four will be effective from April 1, 2020. Notably, finance minister Nirmala Sitharaman last year in August announced ...

Banks Open Emergency COVID-19 Credit Lines To Businesses, Individuals

To help deal with the economic hardships faced by businesses and individuals in India, nearly all public sector banks have announced COVID-19 Emergency Credit Lines. Among them, the State Bank of India (SBI) was the first to announced its emergency credit ...

Looking To Buy PSB Stocks After Merger Announcement: Here's What Experts Suggests

As with the price movement in the case of SBI that merged with its associate banks and BOB that merged with Dena and Vijaya Bank, there will a positive movement at first, which can then be guided by operational performance post ...

Public Sector Banks To Introduce Auto, Home Loans Under 59 Minutes Loan Scheme

To expand their retail loan businesses, public sector banks (PSBs) are gearing up to introduce retail products, including housing and auto loans, on 'psbloansin59minutes' portal. The portal was originally introduced to provide in-principle approval for loans of up to Rs 1 ...

Finance Ministry To Launch ETF With Public Sector Bank Stocks This Fiscal Year

The Ministry of Finance will be launching an ETF (exchange-traded fund) with stocks of public sector banks and financial institutions in this fiscal year 2019-20, a PTI report said, citing an official. The ministry will be appointing an advisor to explore ...

Public Sector Banks Recovered Rs 1.2 Lakh Crore From Bad Loans In FY19

Public sector banks (PSBs) have recovered close to Rs 1.2 lakh crore from stressed assets during the financial year 2018-19, primarily with the help of the resolution under the Insolvency and Bankruptcy Code (IBC), according to a PTI report citing an ...

Government of India Announces Merger Of Dena Bank, Bank of Baroda and Vijaya Bank

The government of India announced today the merger of three public sector banks namely Dena Bank, Bank of Baroda and Vijaya Bank. Rajiv Kumar, Department of Financial Services Secretary, announced that the decision was arrived at after meeting of the 'alternative ...

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