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Finance Minister Arun Jaitely said that “State police investigating a Central PSU threatens the federal balance”.He further added that overreach of Central, State investigation agencies has threatened bankers; anti-graft law affecting honest decision-making. Read – Bank Of Maharashtra Chairman, ED Arrested in Rs. 3,000 Crore Fake Loans Case Finance Minister was quoting with reference to the recent […]
Union Minister of Finance (Temporary) Piyush Goyal has stated that the banking system in India has failed to work according to the expectations of the people and government. The high moral standards that were expected from bank employees did not come true. Goyal also admitted that there has been political interference in government banks in […]
Recently Reserve bank of India has brought many of Public Sector Banks under prompt correction action (PCA) like Bank of India, Corporation bank, United Bank of India, UCO bank, Indian overseas bank, IDBI banks, Central Bank of India and lot more. What is prompt correction action (PCA) and why RBI is implementing it on various banks ? […]
Currently there is a wide debate going on within financial sector about proposed Financial Resolution and Deposit Insurance Bill (FRDI). Main concern is on non-assurance on depositors money and bail-out of weak banks through bank deposit of different bank. Ending the debate on FRDI will, government has decided to place the proposed bill to get parliament […]
Kotak Mahindra Bank chairman, Uday Kotak has said that why Government is unnecessary putting Taxpayer Good money for bad strategic loan of Public sector bank. He further said that the government will have to choose between putting more money into public sector banks or making some ‘strategic’ decisions for these lenders besieged by rising bad […]
After Kingfisher Loan Default, it’s another jolt to Public Sector Bank in India. This time Zoom Developers Pvt Ltd who allegedly swindling Public Sector banks (PSB) for more than Rs 2650 crore. This scam is regarded as biggest cases of money laundering using trusts registered in offshore tax havens. Zoom Developers Pvt Ltd chairman Vijay Choudhary is having a […]
Card transaction giant Visa and Master Card Rs 6000 crore business in India are under danger due to government digitization initiative. Indian government push to digital payment system has given a big blow to these multinational business as it is presumed that wide use of Aadhaar Pay and Bio metric enabled services will end the […]
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