Finance ministry has called a meeting for heads of public sector banks & financial institutions to review the progress of various social sector schemes
The maximum tenure of CEO and MD of PSU Banks has been increased to 10 years, a move that will help the government retain the best talent in the banking sector
Operations in public sector banks may be impacted as bank union All India Bank Employees Association (AIBEA) has given a pan-India strike call for Nov 19
Expressing concern over depleting forex reserves, an AIBEA leader said if the issue is overlooked, it may lead to severe economic crisis like in Sri Lanka
While observing that public sector banks are not enabled enough, the former SBI chief asserted that wholesale privatisation of PSBs is not the answer either
The Finance Ministry would review vacant positions and monthly recruitment plan of public sector banks (PSBs) and financial institutions in a meeting on Sept 21
Former RBI governor D Subbarao has suggested that the government should come up with a 10-year road map for privatisation of all Public Sector Banks (PSBs)
Bank unions are opposing 'loan melas' organised by public sector banks, saying that credit granted without much diligence at such events lead to pile-up of NPAs