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The Maharashtra State Road Development Corporation (MSRDC) has raised around Rs 28,000 crore in loan from various financial institutions. About Samruddhi Corridor Samruddi Corridor is the name given to the Nagpur-Mumbai Super Communication Express Way. The corridor connects the state capital Mumbai with its ‘second capital’ Nagpur. This six-lane expressway of 800 km passes through ..
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 ..
Syndicate Bank and BEML Limited have inked an pact to finance Earth Moving and Construction Equipment which is manufactured by BEML. It will facilitate the availability of loans and address the growing demand for higher capacity equipment in the Mining Industry. The customers will be provided loans in the range of Rs 20 Lakh to ..
The BCG-IBA report titled ‘EASE Reforms for Public Sector Banks’ has measured the performance of each Public Sector Bank (PSB) on 140 objective metrics across six themes, including customer responsiveness, credit off-take, and digitization. As per report, the Punjab National Bank (PNB) with a score of 78.4 out of 100 has been ranked first in ..
Public Sector Banks in India refers to those banks in which the Government equity / shareholding is more than 50%. At present, there are 22 Public Sector Banks in India of which 21 are scheduled commercial banks while one viz. India Post Payment Bank is a payment bank. These along with their current government equity ..
The Telangana government has announced a unique life insurance scheme for farmers. Under the scheme, the government will provide life insurance facility of Rs 5 lakh to the nominee, after the death of the insured farmer. The entire premium will be paid by the government to the insurance agency and the nominee will get the ..
The National Bank for Agriculture and Rural Development (NABARD) has conferred the ‘best performance award’ for 2015-16 and 2016-17 to Karnataka Vikas Grameen Bank (KVGB) for its work in the field of credit-linking joint liability groups (JLGs). The KVGB is sponsored by syndicate bank.