Public Sector Banks (PSBs) Current Affairs, GK & News

S Ramann: New Chairman and Managing Director of SIDBI

The Government of India recently appointed S Ramann as the Chairman and Managing Director of Small Industries and Development Bank of India. About the Appointment The appointment is for a period of three years. The name of the new Chairman and Managing Director was recommended by Banks Board Bureau. Banks Board Bureau It is an ..

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FinMin allows all Private Banks to Participate in Government Business

The finance ministry has allowed all the private sector banks to participate in business related to government such as small savings schemes and collection of taxes pension payments. Highlights Currently, only some of the big private sectors are allowed to conduct government-related businesses. So, now embargo has been lifted and this move will enhance the ..

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Privatisation of PSBs: Govt to bring Two Amendments

The government will bring about amendments in the two acts in order to facilitate the privatisation of public sector banks (PSBs). Key Facts Amendments will be made in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. These two acts had facilitated for the ..

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Govt to work with RBI for Privatisation of Banks

Recently the Union Finance Minister, Nirmala Sitharaman, while addressing the business leaders, chartered accountants and tax professionals in Mumbai stated that the central government will work with the Reserve Bank of India (RBI) to execute the plan of the privatization of the banks. Highlights The minister further said, the Centre have not made plan to ..

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What are Off-Budget Borrowings?

The Government of India is all set to present the Union Budget 2021 on February 1, 2021. This year, the focus of the budget will be on off-budget borrowings so as to reduce the Fiscal Deficit. What are off-budget borrowings? The loans that are taken by any public institution and not by the Centre directly ..

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