Public sector banks Current Affairs - 2019

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RBI tightens fit-and-proper criteria for directors on PSB boards

Reserve Bank of India (RBI) has tightened fit-and-proper criteria for directors on boards of state-run Public Sector Banks (PSBs). In this regard, it has issued RBI (‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs) Directions, 2019. Purpose of directions is to determine ‘fit and proper’ status of person to be eligible Read More…

Month:  Categories: Business, Economy & Banking

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Wilful Defaulters in Nationalised Banks up by 60% in 5 years: Govt

As per a written reply given by Union Finance Minister Smt. Nirmala Sitharaman in Lok Sabha, the number of wilful defaulters in nationalised banks has increased by more than 60% to 8,582 in five years to March 2019. Key Highlights The Finance Minister provided the written reply in Lok Sabha to a question asked that Read More…

Month:  Categories: Business, Economy & Banking

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PSBloansin59minutes.com emerges Largest Fintech Lending Platform

PSBloansin59minutes.com which was launched by Prime Minister Narendra Modi in 2018 has emerged as the country’s largest online lending platform, with loan sanctions exceeding over Rs 35,000 crore. The portal provides credit up to Rs 1 crore to micro, small and medium enterprises (MSMEs) in just 59 minutes or less than an hour. How the Read More…

Month:  Categories: Business, Economy & BankingUPSC

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NITI Aayog hosts Conference on Future of Indian Banking and role of technology Tomorrow

The think tank Niti Ayog had hosted the conference on Future of Indian Banking and role of technology Tomorrow in association with the Foundation for Economic Growth and Welfare (EGROW Foundation). The conference was inaugurated by Dr Rajiv Kumar, Vice Chairman, NITI Aayog. The speakers in the event included Rajiv Kumar, Secretary, Department of Financial Services, Read More…

Month:  Categories: Business, Economy & Banking

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Capital Infusion of Rs. 48,239 Crore into 12 State-Run Banks

The government has approved the capital infusion of Rs. 48,239 Crore into 12 State-Run Banks. The capital inclusion has been undertaken to ensure the lenders are able to maintain regulatory capital requirement and step up lending and boost overall growth. With this latest capital infusion, the government has now the government has now provided Rs 1,00,958 crore Read More…

Month:  Categories: Business, Economy & BankingUPSC

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PSU banks to bring down govt equity to 52%

The Finance Ministry has asked the public sector banks to gradually reduce the government’s equity to 52 per cent. Currently, some of the public sector banks have government’s holding beyond 75 per cent. Why the disinvestment? The decision to bring down the government’s equity to 52 per cent was taken due to the following reasons: Read More…

Month:  Categories: Business, Economy & BankingUPSC

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Public sector banks to come out of PCA framework by end of 2018: Government

Union Government is expecting that public sector banks (PSBs) placed under RBI’s Prompt Corrective Action (PCA) framework will come out of it by the end of this year. As many as 11 out of 21 state-owned banks are currently under PCA framework. Reasons Operational performance of PSBs has improved in April-June 2018 quarter, with steep Read More…

Month:  Categories: Business, Economy & Banking

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