Tag Archives: PSU

Insurer Aviva India Turns To PSU Banks On Recapitalisation Plan Boost

Aviva Plc’s India life insurance joint venture is raising its exposure to the country’s state-run banks as it bets the government’s $32 billion plan to rescue lenders burdened with record bad loans will boost their prospects. The insurer also likes metals stocks and consumption-driven sectors, especially those that target rural consumers, but would avoid the non-bank finance companies, Prashant Sharma, ... Read More »

RBI’s Viral Acharya calls for adequate of PSU bank recapitalization

RBI deputy governor Viral Acharya. Photo: Mint Mumbai: Reserve Bank of India (RBI) deputy governor Viral Acharya batted for “decisive and adequate recapitalization” of public sector banks to improve the health of these lenders, even as he expressed concern at the “glacial” pace of restoring public lenders’ health. “Given the correctly recognized scale of NPAs (non-performing assets) in the books of ... Read More »

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 »

Arun Jaitley to meet PSU bank chiefs on Monday to review NPA situation

Arun Jaitley will meet heads of PSU banks on Monday to discuss the issue of non-performing assets. Photo: Reuters New Delhi: Finance minister Arun Jaitley will meet heads of PSU banks on Monday to discuss the issue of non-performing assets (NPAs) and the steps being taken by them to expedite the recovery of bad loans which have crossed Rs6 lakh ... Read More »