In liquidity push, PSBs plan ‘loan melas’ in 400 districts

News:Finance Minister has announced that the public sector banks will be organising loan meals in 400 districts beginning October 3,2019. Facts: About loan melas: The loan melas will be organized by the Public sector banks(PSB) in partnership with Non banking financial companies (NBFCs). The PSBs will focus on giving loans to the ‘RAM’ category namely… Continue reading In liquidity push, PSBs plan ‘loan melas’ in 400 districts

Bank frauds rise 74%, says RBI

According to Reserve Bank of India’s annual report,the amount involved in bank frauds has increased by 74% over the last one year. Among the banks,the public sector banks(PSBs) have accounted for the bulk of frauds at around 90% of total fraud amount.It was followed by private sector banks and foreign banks. The report said that… Continue reading Bank frauds rise 74%, says RBI

Govt. asks PSBs to find out reasons for rise in NPAs in last 5 years

The Finance Ministry has initiated a comprehensive consultative process with public sector banks(PSBs). The consultative process will start from branch level upwards to the State-level and then to the national level. The process aims to find out the reasons for the sharp rise in bad loans in the previous five years apart from outlining national… Continue reading Govt. asks PSBs to find out reasons for rise in NPAs in last 5 years

Elected directors in PSBs will be appointed by board: RBI

The Reserve Bank of India has come out with the ‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs Directions,2019. The directions mandates that banks are required to constitute a Nomination and Remuneration Committee(NRC) consisting of a minimum of three non-executive directors from amongst the board of directors. An elected director shall… Continue reading Elected directors in PSBs will be appointed by board: RBI

BBB tags 75 senior officers for leadership roles in PSBs

The Banks Board Bureau (BBB) has identified 75 senior officials of state-run banks for leadership roles across public sector banks (PSB). The BBB has also asked the government to give complete autonomy to Public sector banks to decide the organisation structure for better efficiency. Further, they have also suggested a revamp of credit governance architecture… Continue reading BBB tags 75 senior officers for leadership roles in PSBs