Govt On Indian Banks

On Thursday, February 20, 2025, all banks in these two Northeast states will be closed. Customers will be wondering why has the RBI granted banks a holiday?

The January 2025 bank holiday calendar is out, and this year's Lohri and Makar Sankranti festivals, which fall on January 13 and 14, respectively, are designated as holidays

Gross non-performing assets (NPAs) of public sector banks (PSBs) have declined to a decade low of 3.12 per cent at the end of September 2024 from a peak of 14.98 per cent in March 2018 on the back of measures like the 4Rs -- recognition, recapitalisation, resolution, and reform -- taken by the government, the finance ministry said on Thursday. Since 2015, the government implemented a comprehensive 4Rs strategy of recognising NPAs transparently, resolution and recovery, recapitalising PSBs, and reforms in the financial system to address the challenges faced by PSBs, it said. Capital adequacy ratio of PSBs improved 393 bps to reach 15.43 per cent in September 2024 from 11.45 per cent in March 2015, it said. During 2023-24, PSBs recorded the highest-ever aggregate net profit of Rs 1.41 lakh crore against Rs 1.05 lakh crore in 2022-23, it said, adding that the figure was Rs 0.86 lakh crore in the first half of 2024-25. In the last three years, PSBs have paid total dividend of Rs 61,964

In December 2024, all Indian banks (public and private) will be closed for a minimum of 17 days, including Sundays, the second and fourth Saturdays, and other regional and national holidays

For the month of March 2024, banks are set to stay shut for at least 14 days. These holidays are determined by the RBI and state governments and include both public and regional holidays

There has been a 28 per cent annual increase in unclaimed deposits with the banks to Rs 42,270 crore as on March 2023, Parliament was informed on Tuesday. As compared to Rs 32,934 crore unclaimed deposits with public and private sector banks in FY22, the amount increased to Rs 42,272 crore at the end of March 2023, an increase of 28 per cent. As much as Rs 36,185 crore unclaimed deposits were with public sector banks while Rs 6,087 crore were with private sector banks at the end of March 2023. Banks send unclaimed deposits of account holders lying in their accounts for 10 or more years to RBI's Depositor Education and Awareness (DEA) Fund. RBI has taken various steps to reduce the quantum of unclaimed deposits and return such deposits to rightful claimants, Minister of State for Finance Bhagwat K Karad said in a written reply to Rajya Sabha. As per the RBI's direction, banks have been advised to display the list of unclaimed deposits in accounts that are inactive or inoperative fo

Government monitoring developments in the West closely, says one official

New framework could be on lines of earlier 'Statement of Intent' used to fix annual targets, will monitor performance on parameters such as return on assets, NPA, financial inclusion initiatives

'Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro, small and medium-sized enterprises, will test banks' loan underwriting quality'

Canara Bank is pushing this business in Eastern region and two metropolitan areas - Mumbai and Pune

The firms have been accused of charging excessive interest rates and harassing customers for loan recovery, among other things

The move to appoint five deputy managing directors from SBI is being seen as the government's effort to tap into the talent from the country's largest lender to help other banks