public sector banks
Indian Public Sector Banks Write Off Rs 6.15 Lakh Crore in Loans: Recovery Challenges and Financial Strategies
Dec 08, 2025 06:44 pm CST
Public sector banks in India have written off loans worth Rs 6.15 lakh crore over five financial years through September 2025, according to Reserve Bank of India data. Despite recovering only Rs 1.65 lakh crore from these write-offs, the government has not injected capital since FY 2022-23 as banks raise market funding and show improved profitability. Finance Minister Pankaj Chaudhary clarified that write-offs don't constitute loan waivers and recovery efforts continue through various legal mechanisms.
India's Rapid Economic Growth Positions It to Become World's 3rd Largest Economy: Finance Minister Sitharaman
Nov 05, 2025 02:53 am CST
Finance Minister Nirmala Sitharaman announces India's imminent rise to become the world's third-largest economy, highlighting the country's swift progression from tenth position in 2014. The government has successfully reduced multi-dimensional poverty for 25 million people and remains confident about meeting its 4.4% fiscal deficit target for the current financial year.
New Banking Law Allows Up To 4 Nominees In Bank Accounts Starting November 1, 2025: Complete Guide
Oct 23, 2025 07:09 pm CST
Starting November 1, 2025, Indian bank customers can designate up to four nominees for their accounts under the new Banking Laws (Amendment) Act 2025. This significant reform aims to streamline claim settlements, provide flexibility in nomination arrangements, and enhance transparency across the banking system. The amendment includes provisions for both simultaneous and successive nominations, detailed share specifications, and improved governance standards for public and cooperative banks.