Department Of Financial Services News

Nine PSU banks, which are currently under RBI watch for poor financial health, have submitted a 2-year recovery plan to the govt entailing stake sale in subsidiaries and reduction of corporate loan book

The statements of intent (SoI) and memorandum of understanding (MoU) were supposed to play a critical role in monitoring performance parameters and capital infusion in public sector banks. A closer look suggests that such monitoring became a routine affair and not any meaningful exercise.

As part of a major reshuffle effected on Thursday, as many as 17 civil servants were appointed as secretaries and additional secretaries in various central govt departments

Proposal moved to repeal only those provisions in Pension Act which have become irrelevant or redundant

Ministry says it is desirable to rationalise such spending in line with the 'prevalent focus' on austerity in public expenditure on administration

Of the multiple issues discussed at the Gyan Sangam retreat in Pune, not many have moved quickly in the six months which followed

Move aimed to strengthen corporate governance in light of recent cases of corruption