public sector banks

Facing shortage of experienced hand, the government has relaxed the criteria for selection of Chairman and Managing Director (CMD) of public sector banks , a decision that would make several executive directors eligible for elevation as CMD. Under the new criteria, a bank executive director (ED) with a minimum experience of 6 months would also be eligible to become CMDs. Full Article

Finance Ministry will hold annual performance review of public sector banks here on April 26 to evaluate various aspects including non-performing assets and financial inclusion. The meeting will chaired by Financial Services Secretary S K Sharma instead of the usual practice of Finance Minister conducting bankers meet. Full Article

Re-opening of pension option to employees of Public Sector Banks and enhancement in gratuity limits – Prudential Regulatory Treatment RBI/2010-11/400 DBOD.No. BP.BC.80/ 21.04.018/2010-11, February 9, 2011 All Public Sector Banks Dear Sir, Re-opening of pension option to employees of Public Sector Banks and enhancement in gratuity limits – Prudential Regulatory Treatment Consequent on the re-opening of [...] Full Article

The Cabinet today approved to provide an additional amount of Rs. 6000 crore, in addition to the Rs. 15000 crore already provided in the Budget 2010-11, to ensure Tier I CRAR (Capital to Risk Weighted Assets) of all Public Sector Banks (PSBs) at 7% a Full Article

RBI/2010-11/229 DGBA.GAD.No.H. 2444 /42.01.011/2010-11 October 8, 2010 The Chairman & Managing Director / Managing Director State Bank of India and its Associates/ All Nationalised Banks and Jammu & Kashmir Bank Ltd. Dear Sir/Madam, Permissible period for remittance of e-payments into Government account by Public Sector Banks Please refer to our circular letter No.RBI./2008/09/97 (Ref. DGBA. [...] Full Article

Union Finance Minister, Shri Pranab Mukherjee asked the Public Sector Banks (PSBs) to accelerate the financial deepening else it could constraint the full potential of the Indian economy. The Finance Minister said this is essential to maintain high GDP growth trajectory. Full Article

Union Finance Minister, Shri Pranab Mukherjee will review the performance of all Public Sector Banks (PSBs) and Financial Institutions (FIs) in a meeting to be held here tomorrow. This will include annual review of banks performance in the field of agriculture credit, micro, small and medium enterprise credit, housing loan, education loan, deposits, credit deposit ratio, gross and net non-performing assets (NPAs) and return on assets among others. Full Article

The Union Cabinet today gave its approval for the release of a sum of Rs.4,868 crore (subject to actuals) as interest subvention to Public Sector Banks (PSBs), Regional Rural Banks (RRBs) and Cooperative Banks and to NABARD for refinance to RRBs and Cooperative Banks at concessional rates to reimburse the amount of interest subvention to ensure that the farmer, in general, should receive short term crop loan at 7 percent per annum ( 5 percent for prompt payers) with an u.. Full Article