Aizawl, July 20 (IANS) Mizoram Rural Bank (MRB) has crossed the Rs 10,000 crore total business milestone for the first time, reaching Rs 10,656.08 crore during the 2025-26 financial year and registering an 11.26 per cent year-on-year growth, the highest among all Regional Rural Banks (RRBs) in the Northeast, officials said on Monday. 28 RRBs are operating across the country, with MRB emerging as the fastest-growing RRB in the northeastern region during the last financial year. Each of the eight …
Latest Department of Financial Services News & Updates
New Delhi, July 7 (IANS) The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has issued 4,11,497 guarantees since its launch, with the guaranteed amount reaching Rs 1,55,229 crore — a sign of the scheme’s rapid absorption across the lending ecosystem, the government said on Tuesday.The scheme, approved by Union Cabinet on May 5, 2026, is delivering fast, large-scale liquidity support to businesses affected by the West Asia geopolitical situation.The scheme is designed to provide risk mitiga…
New Delhi, June 30 (IANS) The Centre has disbursed approximately Rs 1 lakh crore under the Emergency Credit Line Guarantee Scheme 5.0 (ECLGS) to enable MSMEs and other industries to tide over the liquidity crunch during the West Asia crisis, MSME Secretary Bharat Khera said on Tuesday.Speaking at a Confederation of Indian Industry (CII) event here, Khera said, “Our effort has been to ensure that MSMEs don’t suffer unduly in such times.”Khera said while disruptions caused by the West Asia crisi…
New Delhi, June 29 (IANS) Public sector banks on Monday presented dividend cheques worth more than Rs 9,400 crore to Union Finance Minister Nirmala Sitharaman for the financial year 2025-26.Among the lenders, Bank of Baroda handed over a dividend cheque of Rs 2,811 crore to the Finance Minister for the financial year ended March 31, 2026. The cheque was presented by the bank’s Managing Director and Chief Executive Officer, Dr. Debadatta Chand, in the presence of Department of Financial Service…
New Delhi, June 26 (IANS) The Central Bureau of Investigation (CBI) on Friday arrested a manager of the Punjab National Bank’s Bhadrauli Branch in Agra’s Barhan, Uttar Pradesh, in connection with an alleged bribery case. According to the CBI, the case was registered on June 25, based on a complaint filed by an employee of a private company. It was alleged that the bank manager demanded illegal gratification of Rs 7,000 per loan file to process and clear around 19 solar panel loan applications.Th…
New Delhi, June 25 (IANS) The Central Bureau of Investigation (CBI) held a coordination meeting with the Department of Financial Services (DFS) and Chief Vigilance Officers of public sector banks, IDBI Bank and Life Insurance Corporation of India here on Thursday on measures to expedite investigations into bank fraud cases, according to an official statement. The meeting was attended by the Department of Financial Services Secretary Sanjay Lohiya, the CBI Additional Directors A.Y.V. Krishna and …
Bhubaneswar, June 22 (IANS) Acting on concerns raised by Leader of Opposition Naveen Patnaik, Union Minister of State for Finance Pankaj Chaudhary has written to the BJD president informing him that the Department of Financial Services under the Union Finance Ministry has taken serious note of the alleged harassment faced by tribal man Jitu Munda at an Odisha Grameen Bank (OGB) branch in Malliposi, Keonjhar district, in April this year. The Department has directed Regional Rural Banks to ensure …
New Delhi, May 29 (IANS) Over Rs 6,800 crore hitherto stuck in unclaimed bank deposits has been restituted to nearly 29 lakh claimants across the country during the past six months as part of the stepped-up drive to help citizens recover their money, the Finance Ministry announced on Friday.Secretary, Department of Financial Services (DFS), M. Nagaraju, chaired a review meeting of public sector banks (PSBs) to assess their performance and progress across key operational, financial and strategic …
New Delhi, May 27 (IANS) Seven northeastern regional rural banks (RRBs) have reported a provisional consolidated net profit of Rs 560 crore during FY 2025–26, registering an impressive year-on-year growth of 34 per cent, according to the government.Further, the Gross Non-Performing Assets (GNPA) ratio has declined to 4.9 per cent, the lowest level recorded in the last decade, reflecting improved financial health and stronger asset quality, according to finance ministry.A regional review meetin…
Agartala, May 26 (IANS) Amid growing global economic uncertainty triggered by geopolitical tensions, including the ongoing conflict involving Iran and the United States, the Indian banking sector remains strong, stable, and poised for sustained growth, Secretary of the Department of Financial Services (DFS) under the Union Finance Ministry, M. Nagaraju, said here on Tuesday. Addressing the media on the sidelines of a Credit Outreach Programme organised by the State Level Bankers Committee at Rab…