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The country’s largest lender SBI wants to revamp the ownership structure of its money-spinning subsidiary SBI Caps, but the proposal has put Public Sector Banks (PSBs) in a spot.
The 26 public sector banks, including the RBI, got 9 per cent of the total RTI applications received by all central authorities.
For the past few weeks, banks in many states, especially those in Uttar Pradesh, Madhya Pradesh, Rajasthan, Gujarat, Telangana, and the poll-bound Karnataka have been facing severe cash shortages.
According to mutual fund tracker Morningstar India, equity funds exposure to the sector in 2017 was highest at nearly 28 per cent and the trend is likely to continue this year as well.
The Madras High Court has ordered maintenance of status quo in the matter relating to eviction of residents of Sri Shanmuga Nagar at Thiruverkadu by revenue officials of Tiruvallur administration.
AIBEA General Secretary said ever since PNB-diamantaire Nirav Modi's Scam came to light, there has been strong voice from different corners demanding privatisation of PSBs
Telecom operator Reliance Jio is learnt to be in talks with three Japanese banks to raise USD 500 million (around Rs 3,250 crore) in debt
Employees unions of public sector banks have made a strong pitch for nationalisation of private sector lenders amid allegation of corporate governance lapses and concealing of information.
The BBB's term under Rai ended on March 31 and the new board has been set up at a time when the banking sector is grappling with mounting bad loans and frauds.
State Bank of Pakistan told banks to refuse customers seeking crypto-currency transactions. Indian government and RBI have previously cautioned the public over crypto-currencies
The SBI chairman's attention was drawn to an article by economist Arvind Panagariya which had argued that all the PSBs, except the SBI, could be privatised.
The banking sector has also been hit by scams, with the most glaring one seen in the state-owned Punjab National Bank, he said.
With several fraud cases worth thousands of crores of rupees surfacing in Indian banks, the banking sector gone into a "deep crisis" with credibility at all-time low due to the failure of regulatory .
Nepal Rastra Bank's (NRB) board of directors yesterday held a meeting and made a decision to this effect, according to sources at the central bank.
Audit reports have unearthed financial irregularities to the tune of Rs 370 crore in cooperative banks of the State where thousands of small depositors park their hard-earned savings.