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The industry body, however, said in a statement that banks will continue to review their transaction charges based on operational and commercial viabilities.
Provisioning to continue to bleed banks leading to sizeable haircuts next fiscal: Moody’s-ICRA
Moody's Investors Service today said the government's Rs 2.11 lakh crore capital infusion in PSU banks would narrow the gap between the capital profiles of public and private sector banks.
Presence of foreign bank ATMs in India have declined by 18 per cent over the last three years as some of them shut ATMs, while one bank closed operations here, according to official data.
Jaitley said most of these banks provided standard banking facilities like opening of letters of credit, bill discounting and collection, lockers and safe deposit vaults and bank guarantees.
It said that banks like Yes Bank and Indian Overseas Bank have been imposing penal charges of over 100 per cent per annum on shortfall in maintenance of minimum balance in customers accounts.
The Niti Aayog, the official said, has already recommended a list of 23 PSUs for privatisation which are being looked at by the Department of Investment and Public Asset Management.
There is no point in running loss making branches and putting burden on the balance sheet, so banks should look at not only big savings but also small savings, sources said.
Giving a rare clarification, the RBI in a separate statement, said its Prompt Corrective Action (PCA) framework neither impacts banks’ daily functioning nor constrains regular operations.
The government and RBI want to make a clean break of the $150-billion non-performing assets (NPA) mess and are working on a timetable to put PSBs back on the recovery path.
Banks have also been the target of other crimes including bank robbery, theft, dacoity and burglary in 1,012 incidents.
In a move aimed at combating black money stashed abroad, India signed an agreement with Switzerland today that would allow automatic sharing of tax-related information from January 1 next year.
As part of Indradhanush Plan to revitalise state-owned lenders, the government had proposed to infuse Rs 70,000 crore out of Budgetary Allocations in them.
Public-sector banks’ (PSBs) raising capital via securities is not only credit-positive, but will also improve their loss-absorbing capabilities, Moody’s said on Monday.
Railway Minister Piyush Goyal said this government has fixed responsibility on big defaulters and banks are being strengthened through various measures.