Chairing a meeting to review the performance of PSBs on various financial health parameters for FY23, the finance minister advised banks to ensure an increase in rural, agriculture and sectoral credit in order to meet PSL norms.
State Bank of India (SBI) and Punjab National Bank (PNB) had given loans to Parenteral Drugs, a contract manufacturer of liquid formulations which is undergoing corporate insolvency. A binding offer by NARCL for the pharma company had triggered a Swiss Challenge auction, following which SBI invited counter offers from other asset reconstruction companies (ARCs).
You are required to sign and submit a new locker agreement if you previously submitted a modified bank locker agreement on or before December 31, 2022. aaa
According to government estimates, loans written off by PSBs crossed ₹7.34 trillion in the last five years till FY22, with a mere ₹1 trillion recovery during this period. Including scheduled, private and foreign banks, the write-off crossed ₹10 trillion