Tag: PSU banks

Supreme Court order on interest waiver: PSU Banks may have to take Rs 2,000 crore hit

NEW DELHI: Public sector banks may have to bear a burden of Rs 1,800-2,000 crore arising due to a recent Supreme Court judgement on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020, sources said. The judgement covers loans above Rs 2 crore as loans below this got […]

India likely to provide Rs 30,000 crore to PSU banks in Budget 2019

NEW DELHI: India’s Finance Ministry is evaluating capital needs of state-owned banks, and likely to provide about Rs 30,000 crore in the upcoming Budget to help them meet minimum regulatory capital requirement in the current fiscal, sources said. The first budget of Modi 2.0 government is scheduled to be presented on July 5 by Finance Minister […]

RBI governor meets PSU banks’ CEOs, conveys regulator’s expectations

NEW DELHI: Ahead of the monetary policy review, Reserve Bank of India Governor Shaktikanta Das on Monday met heads of public sector banks and conveyed to them the regulator’s expectation from the banking sector. RBI is scheduled to announce its sixth bi-monthly monetary policy for 2018-19 on February 7. It would be the first monetary […]

India empowers PSU banks to seek lookout circulars against wilful defaulters

NEW DELHI: In a bid to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country, the government has empowered PSU banks to request lookout circulars (LOCs) against wilful defaulters and fraudsters, officials said on Sunday. The Home Ministry has also authorised the Serious Fraud Investigation Office (SFIO), a statutory corporate […]

Arun Jaitley asks PSU banks to take effective action against frauds, wilful defaults

NEW DELHI: India’s Finance Minister Arun Jaitley on Tuesday asked public sector banks to take “effective action” in cases of fraud and wilful loan defaults. Reviewing the performance of state-owned lenders, he exuded confidence that formalisation of the economy would help India achieve sustainable growth of 8 per cent. “FM, Shri @arunjaitley exhorted the banks […]

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