Insurer Aviva India Turns To PSU Banks On Recapitalisation Plan Boost

Insurer Aviva India Turns To PSU Banks On Recapitalisation Plan Boost

Aviva Plc’s India life insurance joint venture is raising its exposure to the country’s state-run banks as it bets the government’s $32 billion plan to rescue lenders burdened with record bad loans will boost their prospects. The insurer also likes...
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More devt banks need to join hands with ISA to promote renewable energy: Jaitley

More devt banks need to join hands with ISA to promote renewable energy: Jaitley

Finance Minister Arun Jaitley on Thursday said more and more multilateral institutions and development banks need to join hands with the International Solar Alliance (ISA) to promote renewable energy. He was speaking at the signing of Joint Financial Partnersh...
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Bad loans and stressed assets in banks estimated at Rs 10 trillion

Bad loans and stressed assets in banks estimated at Rs 10 trillion

Bad loans and stressed assets in Indian banks are estimated at Rs 10 trillion ($153.49 billion), Chief Economic Adviser Arvind Subramanian said on Wednesday. India announced on Tuesday a Rs 2.11 trillion recapitalization plan for its state-owned banks over the...
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“Banks just aren’t set up to understand small businesses”

“Banks just aren’t set up to understand small businesses”

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Finance ministry may provide capital support for merger of PSU banks

Finance ministry may provide capital support for merger of PSU banks

The finance ministry is open to providing capital support for facilitating consolidation among state-owned banks, which are reeling under mounting bad loans, official sources said. The Union cabinet has approved the setting up of an alternative mechanism, or a...
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Banking services hit as employees of public sector banks go on strike

Banking services hit as employees of public sector banks go on strike

Normal banking operations have been hit as public sector bank employees went on a one-day nationwide strike on Tuesday to protest against the government’s proposed consolidation move, besides raising other demands. Services like deposits and withdrawal at b...
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