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Finance ministry expects 3-4 banks to be out of PCA this fiscal: Report
Sunday, November 25, 2018, 12:45 PM
The finance ministry hopes that 3-4 banks would come out of the RBI's Prompt Corrective Action watchlist this fiscal, following the expected modification of guidelines and an apparent improvement in the bottom line of the public sector banks, sources said. Of the 21 state-owned banks, 11 are under the PCA framework, which imposes lending and other restrictions on weak lenders.
PSU banks plan closure of 70 overseas offices during this fiscal
Sunday, August 26, 2018, 4:24 PM
Public sector banks are in the process of closing or rationalising about 70 overseas operations as part of capital conservation exercise. Unviable foreign operations are being shut while multiple branches in same cities or nearby places are being rationalised with a view to achieving efficiency, sources said. Public sector banks (PSBs) closed down 35 foreign operations last year.
No proposal to hike FDI limit in PSBs: Subhash Chandra Garg
Tuesday, May 1, 2018, 5:33 PM
Putting to rest speculations on raising FDI limit in public sector banks, Economic Affairs Secretary Subhash Chandra Garg said there is no such proposal and also ruled out their privatization. "There is no such proposal for relaxing FDI limit (in public sector banks)," Garg told PTI in an interview. Currently, 20 percent foreign investment is permitted in PSU banks under government approval route.
