Tag: Public sector banks

FM announces amalgamation of banks to achieve higher economic growth

Newsroom24x7 Network New Delhi: Finance & Corporate Affairs Minister Nirmala Sitharaman on Friday, 30 August 2019, announced the Union Government’s decision to consolidate Public Sector Banks (PSBs) for strong national resence & global reach. The banks being amalgamated together handle 82% of PSB business and 56% of Commercial bank business. These are being brought together

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Three most talked about events in India

Newsroom24x7 Desk New Delhi: Social media across India has been loaded today with a unique message that talks of three ongoing events everyone is talking about. The message goes like this Currently three popular events going on in India. 1. SriSri – Art of Living 2. Mallya – Art of Leaving 3. PSU Bank –

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Subdued performance of corporate sector moderated the demand for bank credit: RBI

Newsroom24x7 Staff Mumbai: Weak domestic demand and subdued performance of the corporate sector moderated the demand for bank credit. As a result, at the end of March 2015, gross outstanding credit of scheduled commercial banks increased by 9.5 per cent to ₹ 68,784 billion, as against an increase of 13.7 per cent during the previous

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India Bank Consolidation Positive in the Long Term

Newsroom24x7 Staff Mumbai/Singapore: A consolidated Indian banking structure would be a positive development in the long term for the Indian banking system, says Fitch Ratings. We believe that consolidation coupled with higher capital requirements and governance reforms would position the banking system better in support of a more open and higher-growth economy. The topic of

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