The public sector banks, starting 26th September 2019, will go on a two day strike, to protest against the announcement that the honorable Finance Minister Nirmala Sitharaman made pertaining to merging 10 PSBs into four entities. This decision has radical implications for the Indian banking sector and hence this decision to go on a protest. […]
Banking & Industry News Updates
RBI calls upon banks to connect external benchmarks to loan interest rates
The Reserve Bank of India (RBI) has been taking several steps in order to revive consumer demand in a slowing economy along with boosting overall growth for Indian public sector banks in turn, aided by the Central Government. Now, the RBI has directed banks to link new floating interest rate backed loans with external benchmarks […]
Bank of India (BOI) launches special festive season offer for customers
Indian banks, particularly public sector entities, have been dominating headlines lately, what with all the mergers and Government initiatives to infuse more capital and reforms into the sector. With the festive season looming upon us, Bank of India (BOI) has officially declared its special offer for all customers. This should definitely be a spot of […]
Mega bank mergers on the cards for India
On Friday, Finance Minister Nirmala Sitharaman revealed the mega amalgamation plan. The plan was to merge 10 public sector banks into 4 large entities. After the nationalization of banks that took place 50 years ago, the government took this step to improve the financial health of bank and to amplify their lending capacity. The economic […]
India Post to Convert Payments Bank into Small Finance Bank
India Post Payments Bank (IPPB), belonging to the Government of India, has taken a decision to convert to a small finance bank. The basic idea behind this decision came in as a realization to bring about more financial inclusion to sections of the economy not being served by other banks, such as small business units, […]
