Tag Archives: PSU Banks

Most PSU banks offer special lines of credit

Reported by | Updated: March 26, 2020

Several public sector banks have announced special emergency loan products to help people and businesses affected by coronavirus outbreak to tide over the crisis caused by the outbreak of coronavirus and the worsening economic situation. State Bank of India was the first to announce a special emergency credit line for its customers. Other public sector […]

2480 cases of frauds reported in PSU banks

Reported by | Updated: September 9, 2019

As many as 2480 frauds were reported in the first quarter of 2019-20 involving a sum of Rs 31,893.63 crore in the 18 public sector banks in the country. This has been revealed in an RTI query recently. Of these banks, State Bank of India was at the top with 38% of the total amount […]

3 PSU banks out of PCA framework

Reported by | Updated: February 1, 2019

The Reserve bank of India has notified that 3 banks – Bank of India, Bank of Maharashtra and Oriental Bank of Commerce- which were placed under the prompt corrective action, are now out of this framework. The decision has been taken in view of marked improvements in the capital positions and asset quality of these […]

Government appoints 14 new EDs of PSU banks

Reported by | Updated: September 24, 2018

The government has appointed 14 executive directors at public sector banks. They were promoted from the position of general managers. The new ED are: Shanti Lal Jain (GM, Allahabad Bank) and Vikramaditya Singh Khichi (GM, Dena Bank) at Bank of Baroda; Agyey Kumar Azad (GM, Bank of India) at Punjab National Bank; Gopal Singh Gusain […]

New CEOs for 10 PSU banks

Reported by | Updated: September 20, 2018

The government has appointed heads for 10 public sector banks. Of these, 5 are from State Bank of India. They are Mrutyunjay Mahapatra, Padmaja Chundru, Pallav Mohapatra, J. Packirisamy and Karnam Shekhar. Mahapatra, who is DMD at SBI will assume office of MD and CEO of Syndicate Bank, Chundru as MD and CEO of Indian […]

PSU banks told to prepare plans for fund raising

Reported by | Updated: August 1, 2016

The finance ministry has told the public sector banks to prepare plans for raising resources through markets, including IPOs and sale of assets. This follows the government’s decision to infuse as much as Rs 22,915 crore into 13 PSU banks. The ministry is reported to have told the banks that they should make use of […]

Govt infuses Rs 22,915 crore in PSU banks

Reported by | Updated: July 20, 2016

The central government has infused Rs 22,915 crore into 13 state-run banks. Of these banks, the State Bank of India (SBI) will receive the largest allocation of Rs7,575 crore. Indian Overseas Bank and Punjab National Bank will get Rs 3,191 crore and Rs 2,816 crore respectively. The banks required recapitalization based on an assessment of […]

Moody’s predict more capital requirement by PSU banks

Reported by | Updated: June 11, 2016

Rating agency Moody’s has predicted that the asset quality of public sector banks will remain under pressure over the next 12 months even as provisioning for bad loans would impact profitability and lead to constraints in raising capital by these banks. It estimates that 11 PSU banks will need at least Rs 120,000 crore capital, […]

PSU banks install 14,000 ATMs in 2015-16

Reported by | Updated: May 30, 2016

The 27 public sector banks have installed nearly 14,000 ATMs in 2015-16, but this is short of the target of 15,249 for the financial year. With this, the number of ATMs operated by public sector banks rose to 1,42,557 at March end. State Bank of India has installed 4222 ATMs and the bank had 49,724 […]

7686 wilful defaulters owe Rs 66,190 cr to PSBs

Reported by | Updated: May 4, 2016

7686 wilful defaulters altogether owe Rs 66,190 crore to public sector banks in India as of December 2015, according to finance minister Jayant Sinha. He said the number of wilful defaulters of PSBs rose from 5554 to 7686 in three years to December 2015 while the amount involved more than doubled to Rs 66,190 crore […]