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Fill SC vacancies by December 31, address grievances by October 31, Finance ministry tells banks

Fill SC vacancies by December 31, address grievances by October 31, Finance ministry tells banks

[ad_1] The finance ministry has directed all public sector banks to fill vacant posts reserved for Scheduled Castes (SCs) by December 31 and address all grievances of SC consumers and employees through a special drive by October 31. The decision came at a meeting convened by finance minister Nirmala Sitharaman with

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DFS Secretary asks banks to soar up balancesheet; raise capital from market

DFS Secretary asks banks to soar up balancesheet; raise capital from market

[ad_1] The Finance Ministry on Friday exhorted public sector banks (PSBs) to strengthen their balance sheets by raising capital from the market. The enhanced capital would help banks expand their business and push credit growth in the productive sectors. During the meeting with top executives of PSBs at Manthan 2022,

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Government may take fresh look at BPCL privatisation

Government may take fresh look at BPCL privatisation

[ad_1] The government may take a fresh look at BPCL privatisation, including revising the terms of sale, an official said. "We need to go back to the drawing board on BPCL. There are issues in terms of consortium formation, geopolitical situation and energy transition aspects," an official said. The government

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Online lending platforms offering loans at exorbitant rates: HC asks RBI to file status report

Online lending platforms offering loans at exorbitant rates: HC asks RBI to file status report

[ad_1] The Delhi High Court Wednesday asked the RBI to file a status report on the steps taken for implementation of a committee's report to look into the issue of online lending platforms offering short-term personal loans at exorbitant interest rates through mobile apps. A bench of Acting Chief Justice

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Bank privatisation to be kickstarted soon

Bank privatisation to be kickstarted soon

[ad_1] The finance ministry is expected to soon seek cabinet approval for amendments to the Banking Regulation Act, 1949, and possibly other legislation as it kickstarts the process to privatise two state-run lenders. The proposed changes could include the removal of the 20% foreign investment cap applicable to public sector

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Govt is making sure that India will have at least 75 digital banking units in near future: Nirmala Sitharaman

Govt is making sure that India will have at least 75 digital banking units in near future: Nirmala Sitharaman

[ad_1] Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said that the government is making sure that India will have at least 75 digital banking units in near future. Sitharaman chaired a post-budget interaction with stakeholders from trade and industry of North Eastern states in Guwahati on Thursday. Addressing various

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Sitharaman reviews PSBs’ readiness to tackle any disruptions due to Omicron

[ad_1] Finance minister Nirmala Sitharaman on Friday took stock of the banking sector's readiness to tackle any possible disruptions due to the Omicron Covid-19 variant. Sitharaman also had a discussion with Reserve Bank of India governor Shaktikanta Das after a virtual meeting with heads of public sector banks on the post-pandemic

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Govt asks banks to share details of ‘interest on interest’ charged

[ad_1] The finance ministry has asked banks to share details of their board-approved policy on refund or adjustment of 'interest on interest' charged to borrowers during the moratorium period March to August 2020. An official confirmed the development and said that information has been sought on the methodology used for calculating

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