Reserve Bank of India (RBI) has moved out the public sector lender Indian Overseas Bank (IOB) from Prompt Corrective Action (PCA) framework after its financial and credit profile improved. Key Points This decision provides lender more freedom to lend, especially to corporations and ..
The Government e-Marketplace(GeM) has signed two Memorandum of Understanding(MoUs) with the public sector banks, Bank of Maharashtra and UCO bank on Monday, 16th December 2019. Under the MoU, a number of services including transfer of funds through GeM Pool Account(GPA), ..
The BCG-IBA report EASE Reforms for Public Sector Banks measures the performance of each PSB on 140 objective metrics across 6 themes. The 6 themes are: Customer Responsiveness: EASE for customer comfort Responsible Banking: Financial stability, governance for ensuring outcomes, ..
The Reserve Bank of India (RBI) has removed three banks, Dhanlaxmi Bank, Allahabad Bank and Corporation Bank from the PCA framework by moving them out of its weak-bank watchlist. Basis for the decision of RBI The government has infused fresh ..
The government has approved the capital infusion of Rs. 48,239 Crore into 12 State-Run Banks. The capital inclusion has been undertaken to ensure the lenders are able to maintain regulatory capital requirement and step up lending and boost overall growth. With ..
The Reserve Bank of India (RBI) has imposed Rs 2 crore penalty on UCO Bank for non-compliance of instructions issued by RBI on the collection of account payee instruments and those on frauds-classification and reporting. RBI directions on Fraud Classification and Reporting The Reserve ..