Public Sector
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SBI report: Govt's FY26 market borrowings well-placed, but alternative funding needed
Business | Feb 05, 2025, 12:58 PM ISTSBI's latest report stated that the govt's FY26 market borrowings are well-structured but highlighted need for alternative funding sources. With Rs 14.8 lakh crore in gross borrowing and a projected rise in total borrowing to Rs 18.7 lakh cr, the report suggested diversifying financial stability.
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Industry must live up to expectations: India Inc after PM Modi's remarks on private sector
India | Feb 11, 2021, 09:15 PM ISTIndia Inc on Thursday said Prime Minister Narendra Modi's acknowledgement of the private sector's role in India's growth, national progress and enhancing the country's prestige globally is a much-needed shot in the arm for entrepreneurs, and the industry must live up to the expectations.
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All sectors open to private companies, govt to announce new public sector enterprise policy
Business | May 17, 2020, 12:50 PM ISTFinance Minister Nirmala Sitharaman on Sunday said a new "coherent" public sector enterprises policy will be formulated that will define strategic sectors which will have not more than four PSUs. Sitharaman said all sectors are open to the private sector while public sector enterprises will play an important role in defined areas. Accordingly, the government will announce a new policy.
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Over 3,400 branches of 26 PSBs closed or merged in last 5 years: RTI
Business | Nov 03, 2019, 08:08 PM ISTOver 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query.
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PSBs continue with 180 days to resolve Jet
Business | Apr 07, 2019, 05:58 PM ISTOfficial sources in the Finance Ministry said that banks have informed the ministry that they were not ready to wait endlessly to restore health of the beleaguered airline and if attempts to bring in a strategic investor fails or is not completed by June 30, lenders may immediately initiate bankruptcy proceedings against Jet.
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RBI Governor Urjit Patel bats for public sector banks' merger, says it could help banking system
Apr 25, 2017, 09:12 PM ISTRBI Governor Urjit Patel has said the Indian banking system could be better off if some public sector banks are consolidated to have fewer but healthier entities.
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Cabinet approves listing of 5 public sector general insurance cos in stock market
Jan 18, 2017, 04:16 PM ISTThe Cabinet Committee on Economic Affairs on Wednesday has given its green signal to go ahead with the listing of five public sector general insurance companies in the stock exchanges. Finance Minister Arun Jaitley said
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'PSBs require equity worth Rs 1.7 lakh crore by March 2019'
Jan 10, 2017, 04:59 PM ISTThe public sector banks (PSBs) will need equity worth Rs 1.7 lakh crore by March 2019, which can turn out to be higher on an increased credit growth, a recent Assocham-Crisil joint study has revealed.
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Overpaid at bottom, underpaid at top: Rajan underlines the problem at PSBs
Aug 16, 2016, 06:40 PM ISTPitching for an end to the government’s role in top-level appointments at state-run banks, RBI governor Raghuram Rajan on Tuesday suggested empowering their boards to take all major governance decisions freely without having multiple "constituencies
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Public sector bank employees to go on two-day strike from tomorrow
Jul 11, 2016, 08:01 PM ISTNew Delhi: To protest against the proposed merger of SBI associates and privatisation of IDBI Bank, a section of public sector bank employees have threatened to go on a nationwide strike beginning tomorrow. "As the
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India to have 8-10 competitive public sector banks: Jayant Sinha
National | May 27, 2016, 11:34 PM ISTIndia will have 8-10 very competitive public sector banks once the "dust settles" and the consolidation phase ends, Union Minister Jayant Sinha said on Friday.
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Good Bye HMT: India's oldest watch making company to shut down
Jan 06, 2016, 07:12 PM ISTNew Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the closure of three companies of Hindustan Machine Tools (HMT), India's oldest watch making company.HMT Limited, formerly Hindustan Machine Tools Limited, is a
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Gold bonds scheme ends tomorrow, may fetch Rs 150 crore
Nov 19, 2015, 11:30 PM ISTMumbai: Bankers today expressed hope that the maiden gold bond scheme, launched by Prime Minister Narendra Modi earlier this month aimed at physical buying of the shiny metal, that closes tomorrow, is likely to gross
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Banks, insurance unions to strike work tomorrow
Sep 01, 2015, 02:32 PM ISTChennai: Employees of public sector banks and government-owned non-life insurance companies would go on strike on Wednesday to protest against the anti-trade union and worker policies of the central government, union leaders said on Tuesday."The
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Finance Ministry calls meeting of bank heads on April 28
Apr 19, 2015, 04:57 PM ISTNew Delhi: The Finance Ministry has called a meeting of public sector bank chiefs on April 28 for planning implementation of large projects, a release said here on Sunday.The meeting has been called in view
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Take commercial decision without fear or favour: Arun Jaitley
Mar 12, 2015, 09:00 AM ISTNew Delhi: Promising financial autonomy to PSU banks, Finance Minister Arun Jaitley Wednesday asked heads of public sector lenders to take commercial decisions without fear or favour.At the same time, he advised banks to facilitate
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Govt open to divesting over 51% as strategic sale; aims to collect Rs 28,500cr
Mar 03, 2015, 10:20 AM ISTNew Delhi: The government is open to selling more than 51 per cent in certain public sector entities as part of its 'strategic sale' through which it aims to collect Rs 28,500 crore next fiscal,
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Reservation in public sector has positive impact: Study
India | Feb 05, 2015, 07:12 PM ISTA study by World Development Journal has revealed that reservations in public sector jobs have not affected the productivity or efficiency rather it has had positive impact in some areas.In this path breaking report, impact
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Public sector vital to Make in India campaign: Pranab
India | Nov 05, 2014, 06:05 PM ISTNew Delhi: President Pranab Mukherjee Wednesday said the country's public sector enterprises were vital to the 'Make In India' campaign and expressed confidence that they would continue to take the lead in the 'Swachh Bharat'
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All profit can't be used to pay higher wages, Chidambaram tells bank staff
India | Feb 10, 2014, 07:10 PM ISTNew Delhi: As public sector bank employees started a two-day strike today seeking higher wages, Finance Minister P Chidambaram said the profit of banks cannot be used only to enhance salaries because there are other