Category: Banking

Government sets up Arun Jaitley led panel on PSU bank mergers

  The government has constituted a ministerial panel headed by Finance Minister Arun Jaitley to oversee merger proposals of state-owned banks. The other members of the panel include Railway and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman. Last week, Mr Jaitley had announced 2.11 lakh crore rupees capital infusion roadmap for the public

The Government of India and World Bank sign $200 Million Loan Agreement for the Assam Agribusiness and Rural Transformation Project

  The Government of India and the World Bank signed a $200 million Loan Agreement for the Assam Agribusiness and Rural Transformation Project. The Project will support the Government of Assam to facilitate agri-business investments, increase agriculture productivity and market access, and enable small farm holders produce crops that are resilient to recurrent floods or

Govt to infuse Rs. 2.11 lakh crore into PSU banks over 2 years

  The government has announced an aggressive Rs. 2.11 lakh crore capital infusion for the NPA hit public sector banks over a period of two years. Out of this, Rs. 1.35 lakh crore will be through the recapitalisation bonds, while remaining Rs. 76,000 crore from the budgetary support. The capital infusion would be done over

PMLA: Banks to now match original IDs with photocopies

  The Government has made it mandatory for banks and financial institutions to check the original identification documents of individuals dealing in cash above the prescribed threshold, to weed out the use of forged or fake copies. The Department of Revenue in the Finance Ministry has issued a gazette notification making an amendment to the