Kolkata, Jan 12 (IANS) The Election Commission of India has cautioned the micro-observers in West Bengal of strong disciplinary action in case of any deliberate deviation from the ECI-prescribed standard operating procedure (SOP) for them.The micro-observers have been appointed for the supervision of the hearing sessions on claims and objections on the draft voters’ list, which is the ongoing second level of the three-stage Special Intensive Revision (SIR) in the state.The development is signi…
Latest Public Sector Banks News & Updates
New Delhi, Jan 10 (IANS) The strategic interventions by the Department of Financial Services (DFS) has improved the financial health and robustness of banking sector significantly, with gross NPA ratio of scheduled commercial banks (SCBs) declining to 2.22 per cent and that of scheduled commercial banks (PSBs) declining to 2.58 per cent, an official statement said on Saturday.Furthermore, the Provision coverage ratio (PCR) of SCBs increased from 49.31 per cent in March 2015 to a healthy 93.14 pe…
New Delhi, Dec 28 (IANS) The Finance Ministry has directed public sector banks and financial institutions, such as insurance companies, to promptly report vigilance-related matters concerning whole-time Directors on their boards.The directive from the Finance Ministry’s Department of Financial Services (DFS) states that omission of any significant information relevant for decisions relating to appointments, promotions, board-level postings, and placement of whole-time Directors is a matter of …
Indore/Mumbai, Dec 25 (IANS) The Directorate of Enforcement (ED), Indore Zonal Office, has conducted extensive search operations under the Prevention of Money Laundering Act (PMLA), 2002, at multiple locations in Indore and Mumbai, the investigation agency said on Thursday. The raids on December 23 targeted premises linked to the Ruchi Group in connection with ongoing investigations into alleged bank fraud cases.The probe stems from multiple FIRs registered by the Central Bureau of Investigation…
New Delhi, Dec 23 (IANS) Early signs of recovery in loan disbursements across most retail and vehicle segments point to a healthier growth in credit cycle in India in FY27, a report said on Tuesday.The report from JM Financial Institutional Securities said that disbursement momentum across sub-segments rose 6 per cent and 35 per cent year‑on‑year in H1 FY26 and Q2 FY26, respectively, versus a growth of 3 per cent and 11 per cent YoY in FY25.Public sector banks gained share in personal, home …
New Delhi, Dec 23 (IANS) Union Minister of Commerce and Industry Piyush Goyal said that public sector banks (PSBs) have emerged as strong and competitive institutions, standing shoulder to shoulder with private and foreign banks in supporting India’s growth.Addressing the MSME Banking Excellence Awards here, Goyal highlighted the banking system’s role in extending timely, adequate credit to micro, small and medium enterprises (MSMEs), according to an official statement.The minister noted tha…
Chennai, Dec 22 (IANS) Issues related to mule accounts used in cyber frauds and means to curb them topped the agenda at a coordination meeting between CBI, officials of the Department of Financial Services (DFS) and Chief Vigilance Officers of Public Sector Banks (PSBs) held here on Monday. During the day-long meeting, all pending matters about ongoing Bank Fraud Investigations and Prosecutions being handled by CBI were discussed, said a statement.The agenda of the conference was to enhance inte…