Reserve Bank of India (RBI) Governor Shaktikanta Das slashed the key lending rate by 75 basis points (0.75 percentage point) in an emergency move on Friday, to counter the economic fallout from the rapid spread of the deadly coronavirus pandemic. The move came as the country entered the third day of nationwide lockdown to curb the spread of the virus, following an unscheduled meeting of its Monetary Policy Committee...
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Public sector banks (PSBs) are a bone stuck in the throat of the government, which can neither swallow them nor throw them out. The BJP government has little faith in a vibrant public sector being able to deliver value to the economy, which it wants on a rapid growth path. But a decent exit needs time and a level of attention to improve banks’ value...
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The Cabinet has approved the consolidation of 10 public sector banks (PSBs) into four 'mega banks', Finance Minister Nirmala Sitharaman announced today. The Union Cabinet, she said, has given a go-ahead for the merger proposal and the government has been in regular touch with these banks....
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Days after bank unions called off a three-day bank strike from March 11, two unions called for another bank strike on March 27 to oppose the mega merger of PSU banks. Finance Minister Nirmala Sitharaman announced yesterday ....
The government has approved a plan for country’s largest lender, State Bank of India, to lead a consortium that will buy a stake in private lender Yes Bank, news agency Bloomberg reported on Thursday. State Bank of India has been authorized...
