Shri M. Nagaraju, Secretary of the Department of Financial Services (DFS), Ministry of Finance, chaired a quarterly review meeting with the National Asset Reconstruction Company Limited (NARCL), joined by representatives of all public sector banks. The meeting assessed NARCL’s performance for Q3 and strategic objectives for the upcoming quarter. During…
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Bank Strike on Jan 27 to Disrupt PSB Services Across India
Banking services at public sector banks across India are likely to face significant disruption on Tuesday, January 27, as bank employee unions proceed with a nationwide strike demanding the immediate implementation of a five-day work week. The strike has been called by the United Forum of Bank Unions (UFBU), an…
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PSBs Sanction ₹52,300 Cr to 3.96 Lakh MSMEs via Digital Loans
In a major boost for India’s Micro, Small, and Medium Enterprises (MSMEs), Public Sector Banks (PSBs) have sanctioned over ₹52,300 crore to more than 3.96 lakh MSME applicants under a digital credit assessment model. Launched in 2025, this initiative leverages digital footprints to deliver faster, paperless, and more efficient financing…
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India–New Zealand Conclude Landmark Free Trade Agreement
Union Minister of Commerce and Industry Shri Piyush Goyal emphasized that public sector banks in India are now competing on an equal footing with private and foreign banks, reflecting their strengthened role in the country’s economic growth. Addressing the MSME Banking Excellence Awards in New Delhi, Shri Goyal highlighted how…
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India Eyes Bigger Banks via Mergers: FM Sitharaman
Mumbai, Nov 6: Finance Minister Nirmala Sitharaman announced that India is working towards creating more “big banks” by consolidating state-owned lenders and enhancing financial resilience through reforms. Speaking at a public event, she said that the government has already begun discussions with the Reserve Bank of India (RBI) and public…
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Govt Plans UBI BoI Mega-Merger; Smaller PSBs May Be Privatised
New Delhi, October 28, 2025: The finance ministry is reportedly drawing up a consolidation plan for public sector banks that includes a proposed merger between Union Bank of India (UBI) and Bank of India (BoI) to create a state-owned lender second only to SBI by assets. The blueprint also flags…
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Government Plans Mega PSB Merger to Strengthen Public Banks
NEW DELHI: The Indian government is considering a mega merger of public sector banks (PSBs) aimed at consolidating smaller lenders with larger state-run banks to strengthen the banking sector and support the next phase of credit expansion. According to a report by Moneycontrol, banks like Indian Overseas Bank (IOB), Central…
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PSU Bank Shares Rise on Govt Clarification on Stakeholding
Shares of four public sector banks—Indian Overseas Bank, Punjab and Sind Bank, UCO Bank, and Central Bank of India—rose on Wednesday after the Department of Financial Services (DFS) clarified its stance on minimum government shareholding. DFS secretary M Nagaraju confirmed that the government will not reduce its stake in PSU…