In a remarkable turnaround, the public sector banks in India have scripted an inspiring tale of financial success. Cumulative profits of PSBs have crossed the ₹1 lakh crore-mark in the fiscal year ending March 2023.

The Turnaround Story of India's Public Sector Banks

Union Finance Minister Nirmala Sitharaman will meet the heads of public sector banks in Delhi on Thursday. The government last month announced the merger of 10 public sector banks (PSBs) into four strong lenders with countrywide networks and global reach to boost credit and revive economic growth in the nation`s bid to become a five trillion dollar economy in the next five years.

Finance Minister Nirmala Sitharaman to meet heads of public sector banks in Delhi today

An RTI activist from Neemuch town of the Malwa region has claimed that a total of 2,480 cases of fraud in public sector banks involving more than Rs 31,800 crore have been registered in the first quarter of the current financial year 2019-20.

RTI activist claims 2,480 cases of fraud in PSBs involving over Rs 31,800 crore registered in Q1 FY20

Union Finance Minister Nirmala Sitharaman on Sunday allayed the concerns of job losses in the wake of the merger of public banks. "Absolutely ill-informed. I want to assure every union in each one of these banks to recall what I said last Friday.

Finance minister Nirmala Sitharaman allays concerns of job losses over merger of public sector banks

The finance ministry Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans.

Government announces Rs 48,239 cr recapitalisation plan for 12 public sector banks 

Former RBI Governor Raghuram Rajan Friday said there is need to reduce uncompensated government mandates imposed on public sector banks (PSBs). "This is lazy government if an action is worth doing, it should be paid out of budgetary resources.

Reduce number, weight of government mandates for PSBs: Raghuram Rajan

The interim finance minister, Piyush Goyal held his first press meet as a finance minister on Friday after meeting the heads of public sector banks

Government committed to support all state-run banks says, Piyush Goyal

Privatisation has not always worked well, and ownership does not matter as there are both good and bad companies in both private and public sectors, he said.

Time not ripe for large scale privatisation of public sector banks: SBI Chief

Kothari allegedly failed to return Rs 800 crore loan he took from various public sector banks

Kanpur: CBI raids Rotomac owner Vikram Kothari, interrogates him

Speaking in the recapitalisation of public sector banks, Finance Minister Arun Jaitley has said that the Department of Financial Services has been undertaking a detailed exercise as to the amount of capital that needs to be infused into public sector banks.

Govt to ensure good flow of capital to public sector banks to ensure their good health: Arun Jaitley

The International Monetary Fund (IMF) made these observations in its Financial System Stability Assessment (FSSA) for India

India needs to strengthen RBI's independence: IMF

When the central bank counsel answered 'confidentiality', the court told him to work in the interest of the country and not the banks'

India top court: Why not name 87 people who owe govt banks $12.7 bn?