Finance Ministry to hold meeting of heads of banks on Wednesday
The Finance Ministry is set to review the development of variousfinancial inclusion schemes as it has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday.
The Finance Ministry is set to review the development of variousfinancial inclusion schemes as it has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday.
Public sector banks (PSBs) showed strong performance in the first half of current fiscal (FY25) with 11 per cent annual growth as their aggregate business stood at Rs 236.04 lakh crore in the April-September period, the government said on Tuesday.
The robustness in banking architecture in India of late is revealed by bank credit growth that stood at 20.2 per cent in 2024 (net Rs 27.6 lakh cr), continuing the momentum of FY23 (15 per cent) and moving sizably up from FY22 (8.6 per cent), it added.
The wage revision will be effective from 1.11.2022 for a period of five years.
A compliance audit report of the CAG has observed deficiencies in the recapitalisation of public sector banks (PSBs).
Kotak Mahindra Bank whole-time director and president Gaurang Shah said the retail, a low-cost liability base, is key sustenance factor of the banks.
State-owned banks launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March, soon after the lockdown was announced.
Sitharaman will soon hold a review meeting with CEOs of public sector banks (PSBs), which was postponed on Monday.
While investigating a fraud case, the agency shall be sensitive to the distinction between a bonafide decision and criminal involvement.
The finance minister also informed that no Merchant Discount Rate (MDR) charges will be applicable on selected modes of payment from January 1
