March 2017 Current Affairs
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February 2017 Current Affairs
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January 2017 Current Affairs
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16 of 22 PSBs skip paying dividends to Government due to mounting NPAs

16 of 22 PSBs skip paying dividends to Government due to mounting NPAs
22 November 2016 Current Affairs: As many as 16 of 22 public sector banks skipped paying dividends to Government in fiscal 2015-16 due to issue of mounting bad loans. It has led to a 67% decline in government receipts to Rs. 1,444.6 crore. Only six PSBs have declared dividends, though at a lower rate for the fiscal ended March 2016. 

PSBs which skipped dividend payments included Allahabad Bank, Bank of India, Bank of Baroda, Central Bank of India, Canara Bank, Corporation Bank, Punjab National Bank, Dena Bank and Syndicate Bank. During 2015-16, the highest dividend was paid by State Bank of India (SBI) to the government at Rs. 1,214.6 crore, 22% lower than in the previous fiscal.

Profit-making PSBs have to pay a minimum dividend of 20% of their equity or 20% of their post-tax profit, whichever is higher. 

The Union Government which is the majority shareholder in all the PSBs has witnessed a 67% decline in dividend receipts from PSU banks at Rs. 1,444.6 crore.

Balance sheets of most of the PSBs have been under stress due to the clean-up exercise targeted at non-performing assets (NPAs). Banks have been given time till March 2017 to clean up their balance sheet. Due to heavy provisioning for bad loans, many banks posted losses in last quarter of the previous fiscal. 

In 2014-15, the Gross NPAs of the PSU banks had surged from 5.43% (Rs 2.67 lakh crore) to 9.32% (Rs 4.76 lakh crore) in 2015-16 of the total advances.


March 2017 Current affairs
24 MAR
NEWS
23 MAR
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22 MAR
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21 MAR
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20 MAR
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18 MAR
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February 2017 Current affairs
28 FEB
NEWS
27 FEB
NEWS
25 FEB
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24 FEB
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23 FEB
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22 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
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26 NOV
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25 NOV
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24 NOV
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