Tag Archives: govt

Govt to initiate PSU bank consolidation process after Q1 numbers

The government in February had approved the merger of these five associate banks with SBI. Photo: Hemant Mishra/Mint New Delhi: The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which ... Read More »

Govt makes fresh attempt to revive IDBI Bank

Privatisation of IDBI Bank might be further delayed, with the government making a fresh attempt to revive the state-owned lender after fresh slippages were reported over the last two quarters that derailed the stake sale plan. The recovery plan includes capitalisation through non-core assets sale, hiving off subsidiaries, controlling expenses and remodelling the business. The qualified institutional placement (QIP) plan ... Read More »

Bank employees body questions need for turnaround plan for 10 weak govt banks

In March, the centre had asked weak public sector banks to come up with turnaround plans by setting stiff targets for improving asset quality, bad loan recovery, cost control, capital utilization, etc. Photo: Mint Mumbai: The All India Bank Employees’ Association (AIBEA) has questioned the purpose of a turnaround plan for 10 weak public sector banks (PSBs) identified by the ... Read More »

Govt refuses to recall 1% excise duty on jewellery

Finance Minister Arun Jaitley refuted the allegations saying when items of common use were being taxed, how could luxury items be kept out. The government on Thursday refused to budge from its stance on levying one per cent excise duty on non-silver jewellery saying luxury items cannot be kept out of tax ambit for perpetuity, prompting a walk-out by members of ... Read More »

UK govt willing to buy 25% in Tata Steel plants

The UK government on Thursday announced it is willing to acquire 25 per cent stake in Tata Steel’s UK operations to help potential buyers eyeing ownership of the Indian steel firm ‘s loss-making plants. The money “worth hundreds of millions of pounds” is being put up jointly by the UK and Welsh governments and will be made available to potential ... Read More »

Ahead of festive season, govt clears bonus for railway employees

Ahead of the festive season, the government on Wednesday cleared a proposal to give productivity-linked bonus (PLB) to about 12 lakh railway employees . The proposal was cleared at the Union Cabinet meeting chaired by Prime Minister Narendra Modi , sources said. Railways had proposed to give 78 days wages as productivity-linked bonus, the same as the last three years, ... Read More »