Payments Banks and Small Finance Banks are now allowed to sell Atal Pension Yojana. In a statement the finance ministry said that given the strength, expertise and reach of these new age banks, they can play a pivotal role in outreach of subscribers under APY. At present there are 11 Payment Banks and 10 Small Finance Banks.
-Economic Times
Rating agency Crisil today revised upwards the outlook on 18 PSBs to ‘stable’ from ‘negative’ and also reaffirmed their ratings following the Rs 88,139-crore capital infusion by government.The outlook on Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of Maharashtra, Bank of India, Canara Bank, Central Bank, Corporation Bank, Dena Bank, IDBI Bank, Indian Overseas Bank, Oriental Bank, Punjab & Sind Bank, Punjab National Bank, Syndicate Bank, Uco Bank, Union Bank and United Bank have been revised upwards to stable now. The report, however is silent on SBI.
-Business Line
Honest borrowers will find it easier to get loans from PSBs following the reforms being undertaken, Financial Services Secretary Rajiv Kumar has said, asserting that there would be a premium on integrity.
-Indian Express
Finance Ministry has asked PSBs to consider asset swaps, including exchange of their corporate portfolios and branches, to optimise nation-wide operations even as consolidation emerges as an option to revive the financial performance of the lending system. Banks may also swap same rated loans — both in corporate and retail segments — to obtain a more cohesive portfolio, a senior Finance Ministry official said. The move is part of the reforms agenda — Enhanced Access and Service Excellence (EASE) — that seeks to limit the corporate exposure of PSBs at 25% of total risk-weighted assets.
-Economic Times
SBI has decided to invoke personal and corporate guarantees of defaulting firms even when they face bankruptcy proceedings. Officials of the bank said that letters have been issued to all officers in charge of credit that they must immediately invoke the personal and corporate guarantees.
-Economic Times
In what could be the biggest management buyout ever in India, a group of employees of Tata Teleservices Ltd (TTSL), led by Chief Ethics Officer, Tata Sons, has pitched for buying out the Tatas from the Co. The bid, understood to be a little over $1 billion, is backed by a consortium of PE investors led by bulge-bracket PE firm, TPG Capital, and includes a major pension fund, according to sources in TTSL who wished to remain anonymous. It is understood that fears of job losses prompted senior, long-serving employees of TTSL to band together to spearhead the offer.
-Business Line
The labour ministry will begin a drive in April to register over 47 crore unorganised sector workers and provide them with Unorganised Worker Index Number or UWIN Card, bringing them under the social security net, according to an official source.
-The Statesman
Employees union at Bajaj Auto's Chakan plant has threatened to go on an indefinite hunger strike from Monday over the non-revision of wages. The Bajaj Auto management was to revise the 3-year wage agreement with its over 1,000 permanent employees at the Chakan plant in 2016 but it has still not moved on the issue, a union leader said today.
-Economic Times
-Economic Times
Rating agency Crisil today revised upwards the outlook on 18 PSBs to ‘stable’ from ‘negative’ and also reaffirmed their ratings following the Rs 88,139-crore capital infusion by government.The outlook on Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of Maharashtra, Bank of India, Canara Bank, Central Bank, Corporation Bank, Dena Bank, IDBI Bank, Indian Overseas Bank, Oriental Bank, Punjab & Sind Bank, Punjab National Bank, Syndicate Bank, Uco Bank, Union Bank and United Bank have been revised upwards to stable now. The report, however is silent on SBI.
-Business Line
Honest borrowers will find it easier to get loans from PSBs following the reforms being undertaken, Financial Services Secretary Rajiv Kumar has said, asserting that there would be a premium on integrity.
-Indian Express
Finance Ministry has asked PSBs to consider asset swaps, including exchange of their corporate portfolios and branches, to optimise nation-wide operations even as consolidation emerges as an option to revive the financial performance of the lending system. Banks may also swap same rated loans — both in corporate and retail segments — to obtain a more cohesive portfolio, a senior Finance Ministry official said. The move is part of the reforms agenda — Enhanced Access and Service Excellence (EASE) — that seeks to limit the corporate exposure of PSBs at 25% of total risk-weighted assets.
-Economic Times
SBI has decided to invoke personal and corporate guarantees of defaulting firms even when they face bankruptcy proceedings. Officials of the bank said that letters have been issued to all officers in charge of credit that they must immediately invoke the personal and corporate guarantees.
-Economic Times
In what could be the biggest management buyout ever in India, a group of employees of Tata Teleservices Ltd (TTSL), led by Chief Ethics Officer, Tata Sons, has pitched for buying out the Tatas from the Co. The bid, understood to be a little over $1 billion, is backed by a consortium of PE investors led by bulge-bracket PE firm, TPG Capital, and includes a major pension fund, according to sources in TTSL who wished to remain anonymous. It is understood that fears of job losses prompted senior, long-serving employees of TTSL to band together to spearhead the offer.
-Business Line
The labour ministry will begin a drive in April to register over 47 crore unorganised sector workers and provide them with Unorganised Worker Index Number or UWIN Card, bringing them under the social security net, according to an official source.
-The Statesman
Employees union at Bajaj Auto's Chakan plant has threatened to go on an indefinite hunger strike from Monday over the non-revision of wages. The Bajaj Auto management was to revise the 3-year wage agreement with its over 1,000 permanent employees at the Chakan plant in 2016 but it has still not moved on the issue, a union leader said today.
-Economic Times
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