The government has taken various reforms following which asset quality of public sector banks has improved significantly with gross NPA ratio declining from the peak of 14.6 per cent in March 2018 to 5.53 per cent in December 2022, Parliament was informed on Monday. All PSBs are in profit with aggregate profit being Rs 66,543 crore in 2021-22, and that further increased to Rs 70,167 crore in first nine months of current financial year, Minister of State for Finance Bhagwat K Karad said in a writ

The rupee continued its upward trend and rose 11 paise to 82.48 against the US dollar in early trade on Monday, tracking fall in crude oil prices and firm Asian currencies. Traders said, strong dollar and negative sentiments across the global as well as domestic equity markets capped the gain in the rupee. At the interbank foreign exchange, the domestic unit opened stronger at 82.48 against the US dollar and then slipped to 82.52. It gained further to 82.48, registering a gain of 11 paise. The I

Calling for further improvement in banking services, Minister of State for Finance Bhagwat K Karad urged banks to treat their customers as God. Banks should focus on improving their customer service and work towards reducing pain points, Karad said while addressing a Customer Meet programme organised by Bank of Maharashtra (BoM) earlier this week. At the same time, he asked customers to be responsive and prompt in repayment of loans so that banks are financially healthy. With regard to Kisan Cre

Highlighting the developments in the United States banking system over the past weeks, wherein few banks have gone belly up, RBI Governor Shaktikanta Das said

The domestic currency has experienced turbulence since February due to apprehensions of more rate hikes by the US Federal Reserve

The bank has consistently said it has sufficient liquidity, a position the backstop only strengthens

Loan disbursals by microfinance companies increased 19 per cent to Rs 77,877 crore during December quarter 2022-23, said the MFIN Micrometer. The total microfinance loan portfolio increased to Rs 3.21 lakh crore as on December 31, 2022, the report said. Microfinance loan disbursals during Q3 FY 22-23 improved to Rs 77,877 crore as compared to the same quarter of last financial year (Rs -65,392 crore). 189 lakh loans were disbursed during Q3 FY 22-23 as against 165 lakh in Q3 FY 21-22, indicating

From linking PAN card and Aadhaar Card to submission of updated income tax return (ITR), failure to meet these deadlines may lead to financial losses

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