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The finance ministry declared, Public and Private Sector Banks have disbursed loans over Rs 1.5 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector. The top three lenders under the scheme are the State Bank of India, Canara Bank, and Punjab National Bank. What is the Emergency Credit Line Guarantee ..
As per an order issued on Monday, 20th January 2020 by the Ministry of Personnel, Sanjiv Chadha, who was serving as the Deputy Managing Director in the State Bank of India has been appointed as the Managing Director and Chief Executive Officer of the country’s third-largest lender and public sector bank, Bank of Baroda (BOB). ..
The 6-member RBI task force, headed by Canara Bank Chairman TN Manoharan, has recommended the setting up a Self-Regulatory Body (SRB) of market participants to finalize details for the secondary market for corporate loans, including the standardization of documents. It has also called for amending regulations of SEBI, IRDA and PFRDA to enable participation of ..
The government has unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders. Proposed Merger Punjab National Bank, Oriental Bank of Commerce and United Bank of India will combine to form the nation’s second-largest lender. Canara Bank and Syndicate Bank will merge. Union Bank ..
In a slew of measures announced by the Finance Minister of India, Nirmala Sitharaman on 30th August, 2019, to take the country out of economic doldrums, one particular step of the government has stood out. This was the planned merger of 10 public sectors into 4 banks. The anchor banks for this merger will be ..