-The Indian Express The Finance Ministry directed smaller PSBs to cut their corporate loan exposure to 25 per cent of their risk-weighted assets over the medium term and focus more on retail lending. Corporate loans corner the lion’s share of rising bad loans in public sector banks while retail loans have a far superior track record when it comes to timely repayment, according to the latest available Reserve Bank of India...
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Public sector banks lost Rs 2,450 crore to frauds involving staff: RBI data -Chethan Kumar
-The Times of India BENGALURU: Among other things that emerged in the aftermath of the massive Punjab National Bank (PNB) scam is the active role of employees of the Public Sector Banks (PSBs) in multiple frauds over the years. TOI has accessed Reserve Bank of India data that reveals the number of cases involving staff across various states and the amount of loss reported. Overall, data from April 2013 to June 2016...
More »Customers defrauded at 4 PSBs through Aadhaar-based authentication misuse -Somesh Jha & Namrata Acharya
-Business Standard The banks - Allahabad Bank, Bank of India, Syndicate Bank, and UCO Bank - recently reported the matter to the Union government New Delhi/ Kolkata: The staff of four public sector banks (PSBs) has been alleged to have salted away depositors’ money by misusing the latter’s Aadhaar-based authentication. The banks — Allahabad Bank, Bank of India, Syndicate Bank, and UCO Bank – recently reported the matter to the Union government,...
More »Don't have records of Vijay Mallya's loans: Finance ministry to CIC
-PTI Finance Minister Arun Jaitley, during a debate on demonetisation in the Upper House on November 17, 2016, had termed the loan issue of Vijay Mallya a "terrible legacy" that the NDA government had inherited from the previous UPA regime. The finance ministry has told the Central Information Commission (CIC) that it does not have information about the loans given to industrialist Vijay Mallya, prompting the transparency panel to remark that the...
More »India Economic Survey 2018: Arvind Subramanian says economic revival underway; 4 key takeaways -Sushruth Sunder
-The Financial Express India Economic Survey 2018: Chief Economic Advisor Arvind Subramanian says that the Indian economy is showing robust signs of recovery and a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19. Addressing media in the press conference post release of the economic survey, CEA Arvind Subramanian noted...
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