Page 2 - Nikunj Ohri

Public sector banks to open 316 branches in financial inclusion drive

Brick and mortar branches to be opened by December 2022; progress was shared in PSB review

Services PMI accelerates in Aug; job creation strongest in 14 years

Rebound due to gains in new business, improvements in demand, and overtime work: Survey

Govt seeks to improve disclosures by PSUs, asks for monthly data on capex

New details such as CSR, gender-wise reporting of contractual workers, unused land, and profit share in joint venture companies have also been added in the list of disclosures

Govt starts work to make regional banks viable; DFS to organise workshop

The government is also nudging operationally sound RRBs to explore listing on the stock exchanges, creating additional sources to meet their regulatory capital requirement

India's manufacturing growth stays robust in Aug, inflation eases

S&P Global's Manufacturing Purchasing Managers' Index dips slightly to 56.2 in August from 56.4 in July

GST collections above Rs 1.4 trillion for sixth consecutive month

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

India's April-July fiscal deficit recorded at 20.5% of FY23 target

The centre spent Rs 1.1 trillion or 35% of the full year's estimate for food, fertiliser and petroleum subsidies

Finmin reviews PSBs' financial performance, progress on financial inclusion

The banks' performance was measured on parameters such as credit growth, asset quality and recoveries; they were also assessed on penetration of insurance schemes

Centre may revamp framework for setting state-owned banks' targets

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

Centre may drop CEL sale amid ongoing money laundering case against bidder

A case is pending against Nandal Finance at NCLAT; RoC has also filed a winding-up petition against the firm

PMJDY accounts hit 462.5 mn in eight yrs, deposits reach Rs 1.73 trillion

However, there was a decline in operative accounts as a percentage of the total, from 85.6% in August 2021 to 81.2% in August 2022

6 joint secretaries who joined govt as lateral entries set to get extension

Such appointments were made in 2019 as part of efforts to reform the civil services

Centre set to wait for NCLAT ruling for Pawan Hans sale, hearing on Sept 1

The government's decision is based on the recommendation of its transaction adviser

Banks must ensure credit schemes reach eligible citizens: FM Sitharaman

'Difficult situation' caused by unintended people getting benefits of credit programmes now over, she says

Mortgaged property e-auctioning portal of PSBs is set for a makeover

The common electronic platform to auction mortgaged properties of PSBs is set to get a makeover with plans to make all processes in the auctioning life cycle seamless and more us

Trade settlement: Govt says banks free to not deal with sanctioned entities

There are over 200 banks in Russia, and sanctions have not been imposed on all of them

No plans to levy charges on UPI transactions, says Finance Ministry

'The concerns of the service providers for cost recovery have to be met through other means,' tweets the ministry

Govt hardens norms on Irdai, public insurer top brass' post-retirement jobs

This comes after the Centre had reportedly received complaints against two past Irdai chairpersons, Subhash Chandra Khuntia and T S Vijayan

Centre to monetise The Ashok Hotel; Samrat to be retained by ITDC

The government, through its consultant, will hold a roadshow on August 22 to seek views of market participants on the proposed models for monetisation of ITDC properties

Govt nods enhancing ECLGS limit to Rs 5 trn for hospitality, allied sectors

Union Cabinet has approved the enhancement in the limit of Emergency Credit Line Guarantee Scheme by Rs 50,000 crore Rs 5 Lakh crore, with the additional amount being earmarked entities in hospitality