Public sector banks

Embattled liquor baron Vijay Mallya on Tuesday lashed out at public sector banks for “double standards” under the current NDA regime for their intervention to bailout Jet Airways while the same lenders made his Kingfisher airlines “fail ruthlessly”.

Fitch Ratings on Wednesday said government’s USD 7 billion (around Rs 48,000 crore) fund infusion into public sector banks (PSBs) would not be sufficient to support significantly stronger lending growth.

The finance ministry expects three to four more lenders to come out of weak bank list of the Reserve Bank in the next six to eight months on account of improvement in financial health amid capital infusion and falling bad loans.

Shares of public sector banks (PSBs) jumped up to 19 per cent today after the finance ministry announced infusion of Rs 48,239 crore in 12 such lenders in this fiscal to help them maintain regulatory capital requirements and finance growth plans.

The Finance Ministry on Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks (PSBs) in this fiscal to help them maintain regulatory capital requirements and finance growth plans.

Reserve Bank of India Governor Shaktikanta Das on Monday asked banks to extend credit while observing prudential norms without getting excessively conservative.

Finance Minister Piyush Goyal on Monday exhorted state-run banks to step up lending to micro, small and medium enterprises, agriculture and housing sectors and also assured these lenders of all kinds of support.

In a bid to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country, the government has empowered PSU banks to request lookout circulars (LOCs) against wilful defaulters and fraudsters, officials said on Sunday.

Some of the public sector banks are likely to come out of the Prompt Corrective Action (PCA) framework in next few months on the back of improvement in various parameters.

The government on Wednesday approved a capital infusion of Rs 6,000 crore in Exim Bank to expand its business.