Rural and farm credit were totally neglected before the nationalisation of banks on 19th July 1969. The historic All India Rural Credit Survey carried out in 1954 showed that formal credit institutions provided less...
Amendment of the banking law has been enlisted in this session of parliament. This is a reversal of the nationalization affected in 1969 and 1980, taking over private banks from business houses that were...
The union government is bent upon privatising the Life Insurance Corporation of India. They stealthily announced an amendment to the LIC Act by making a statement in the Union Budget 2021 and made it...
Finance Minister Nirmala Sitharaman recently tweeted- “The Primary reason for PSBs to post such as Rs.57832 Crore turn around – from a loss of Rs.26016 Crore in 2019-2020 to a combined profit of Rs....
19th of July is marked as the bank nationalisation day, recognising the historical decision of the Indira Gandhi government to take control of private banks. It is not an exaggeration to say that the...
While celebrating 52 years of Nationalisation, we have a government led by those people who along with their party opposed Nationalisation and now want to privatise everything. It is important to look at History...
A law called “The insolvency and bankruptcy code (IBC) 2016” was enacted in the parliament in May 2016 apparently to recover the mounting Non-Performing Asset (NPA) from the corporate sector. This law enables the...
The then Finance Minister late Mr. Arun Jaitley & the present Finance Minister Smt. Nirmala Sitharaman used to say that IBC will prove to be a game changer. Indians are scared of stigma &...
When India attained Independence in 1947 it inherited a weak, desperate and unwieldy banking structure. Other than the Imperial Bank of India, there were many Indian joint stock banks, but they did not have...
There were no public sector banks till 1955. Only on 1st July 1955 Imperial Bank of India was nationalised creating State Bank of India. It is important to know what was banking in our...
As an essential part of the financial system, banks’ role in India’s ambitious goal of becoming a $5 trillion economy has become a topic of intense debate. Significant reforms in scheduled commercial banks, mainly...
The Public Sector Banks have been facing challenges since 1991 with the so-called reform process. Starting from the Narasimhan Committee to P.J. Nayak Committee has recommended reducing Government share. They want banks to be...
Around 10 Lakh bank employees of Public Sector Banks (PSBs) are protesting for two days against the proposal to privatise (sell) two Public Sector Banks. Here, I try to explain why Public Sector Banks...
While the earlier attempt to monetize public assets initiated first in 1993 to monetize unutilized and surplus land assets, had come a cropper following resistance by state governments, the state governments wanted a share...
Banks and Insurance were in the hands of the Private Sector only till 1969. After the nationalisation of banks in 1969 and subsequently in 1980, the outreach of the banking sector changed. Banks became...