India's government has asked public sector banks to explore consolidating the business they conduct through overseas branches to GIFT City.
May 5, 2023A new study suggests public sector banks may need greater autonomy to improve their governance structures.
August 29, 2022The Indian government has approved capital infusions into 12 public sector banks amounting to $6.8bn as part of its bank recapitalisation plan.
February 21, 2019India has begun the process to merge Dena Bank, Vijaya Bank and Bank of Baroda in a bid to support their weak balance sheets and consolidate the state-run banking sector.
September 19, 2018In its India Staff Report, IMF brought up the issue of dual regulation of state run banks and called for full supervisory control of these banks to be given to the RBI.
August 13, 2018Stress tests indicate NPA ratios at Indian banks to fall to lowest level since year 2000; Public sector banks to be hit the hardest, with six expected to experience capital shortfall.
July 2, 2018An estimated $10bn in LoUs will need to be wound down within three months, forcing banks to rebalance assets and liabilities.
March 16, 2018Reports praise progress but suggest more can be done on governance at public sector banks, market infrastructure risk management, among other issues.
January 24, 2018Greater RBI oversight and restructuring needed in addition to recapitalisation; High NPAs and problematic corporate balance sheets also pose challenges.
December 26, 2017India’s government has announced a comprehensive seven-pronged revamp plan to shake up its struggling public sector banks, dubbed “the most comprehensive plan since nationalisation of banks in 1969”.
August 18, 2015