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If you are looking to work in a <keyword id="396311" type="UNKNOWN" weightage="80" keywordseo="public-sector-bank">Public Sector Bank</keyword>, be prepared to undergo two psychometric tests, which are a part of the selection process. 
 
The PSBs are taking these psychometric tests to ascertain that the aspirant would be able to head lenders reeling under bad loans. 
 
This is a part of the three-stage selection process that includes background check and personal interviews, executives familiar with the matter told Economic Times. 
 There are nearly 50 candidates in the fray. The <keyword id="6354335" type="CITY" weightage="80" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) has engaged global management consulting firm Hay Group to shortlist managing director and CEOs for five PSBs including Punjab National Bank and Bank of Baroda, two senior executives told ET. 
 
One of the executives, on the condition of anonymity, said the psychometric tests are to analyse the leadership qualities, situational judgment capability and overall personality traits. 
 
Meanwhile, Hay Group and RBI refused to comment on the matter. 
 
The psychometric test, which lasts around four hours, includes questions such as the biggest setback in the candidate's life and how he or she dealt with it. 
"A group of five-six experts asks these questions, some are in-depth questions, the rest seek to ascertain the preference and style of an individual - whether you are impatient, risk averse and so on," one of the candidates who attended the session told the financial daily. 
 
Another executive told ET that the idea was to have an objective third-party view before the candidates are tested on their sector -specific knowledge. 
"I think this was the first time I listed my achievements and spoke about it for almost an hour," the candidate said. 
 
Earlier this year, the government had given a nod for new norms for selection of MD &amp; CEO for five PSBs, making way for appointment of private sector candidates on flexible salary packages. 
 
Canara Bank, Bank of India and IDBI Bank are the other lenders in the list. 
 
The government had relaxed eligibility criteria with regard to age and experience of applicants. The age limit was increased from 55 to 57 years and the mandatory board-level experience for the applicants was reduced to one year, from three years. 
 
In 2014, a panel was set up to examine the selection process to the posts of CMDs and executive directors of PSBs for 2014-15. 
 
ET reported that this was after the then Syndicate Bank chairman and managing director SK Jain was arrested by the Central Bureau of Investigation (CBI) for allegedly accepting bribes of Rs 50 lakh to enhance the credit limit of some companies. 
 
The government had then cancelled the appointments of eight CMDs and 14 executive directors of state-run banks made by the previous Congress-led Indian government. 
 
(Images: Reuters)

Now, your behaviour and mental ability will get you top post in public sector bank

Public sector banks in India to have uniform timings across all states starting today

<div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://www.gettyimages.com/">Getty Images</a></div><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> revealed its <a href="http://www.businessinsider.com/india-budget-disappoints-investors-2013-2">budget for FY13 - 14</a> and it largely disappointed foreign investors and is expected to not do much to revive flagging economic growth.
But the budget is trying to tackle gender issues.
The finance minister P Chidambaram's budget includes a plan to set up the country's first public sector <keyword id="624" type="ORGANIZATION" weightage="60" keywordseo="Women">Women</keyword>'s Bank with Rs. 10 billion in capital (approx $183 million).
"This Women’s Bank will lend funds to women, women run businesses, women SHGs [self help groups] and will employ predominantly women and be functional from October 2013 ."
India has the second largest workforce in the world that totals 478 million, but women only account for 24 percent of it, according to a report from the <a href="http://csis.org/files/publication/120222_WadhwaniChair_USIndiaInsight.pdf">Center For Strategic &amp; International Studies.</a> 
It also ranks 113th of 135 countries in the World Economic Forum's Gender Gap Index.
The report also cites Lakshmi Puri of UN Women who said in 2011 that "India's growth rate could jump by 4.2 percent if women were given more opportunities".
With India's economic <a href="http://www.businessinsider.com/why-indias-gdp-growth-is-headed-to-a-10-year-low-2012-8">growth at 10-year low</a> this might not be the worst idea, but it depends on how effectively it is managed.

India To Create First Public Sector Bank Only For Women

<ul><li>Indian Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> just announced multiple mergers of public sector banks.</li><li>The mergers will shrink the total number of public sector banks in India from 27 to 12.</li><li>The merger between <keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> (PNB), Oriental Bank and United Bank will make the second largest state owned bank in India.</li></ul>Indian finance minister Nirmala Sitharaman today announced the merger of ten state-owned banks into four mega banks. This is a part of the government’s agenda to shrink the number of public sector banks in India from 27 to 12. As a part of the merger, Punjab National Bank (PNB) will be merging with Oriental Bank and United Bank which will be the second largest public sector bank in India. While PNB will retain its identity as the anchor bank, it will be ‘acquiring’ the other two smaller banks. <keyword id="6357132" type="COMPANY" weightage="20" keywordseo="Canara-Bank">Canara Bank</keyword> will merge with Syndicate Bank to become the fourth largest bank. Union Bank of India will subsume with Andhra Bank and Corporation Bank to turn into the fifth largest state-owned bank. Indian Bank and Allahabad Bank will also merge to become the seventh largest public sector bank. The BSE Bankex surged by a massive 172 points today to close at 30,949 as the merger buzz pushed the stocks of PSU banks. Professionally managed banks Sitharaman also promised to ensure that these merged banks will be run professionally while shedding some of bureaucratic pains that have dogged public sector institutions. The merged entities will be able to make succession plans, and will be more accountable to the board. "The banks will also be able to recruit a chief risk officer from the market at market-linked compensation," she said. Sitharaman stated that the total non-performing assets or toxic loans are at a massive ₹ 7.9 lakh crore. However, they came down from ₹8.46 lakh crore in December last year. These bank mergers will create stronger entities allowing them to support the slowing credit growth in the country. Third set of bank reforms — with more to follow This is the third time that the Narendra Modi government is consolidating the public sector banking industry. In April 2017, he announced the merger of five associate banks and the Bharatiya Mahila Bank with the State Bank of India (SBI). In April this year, Dena Bank and Vijaya Bank were merged with Bank of Baroda. India’s former Finance Minister, the late Arun Jaitely stated, "India needs fewer, mega banks which are strong, because in every sense, from borrowing rates to optimum utilisation, the economies of scale as far as the banking sector are concerned are of great help." The total number of banks is expected to reduce even further to around only four or five as per the Indian government’s plans for the sector.

Indian government decides to merge ten public sector banks to form four large entities

Some of the crucial sectors, including infrastructure, chemicals, engineering and mining contribute to 36% of the overall 4.1% <keyword id="142154" type="UNKNOWN" weightage="100" keywordseo="bad-loans">bad loans</keyword> in the Indian banking system, said Reserve Bank of India in its annual report for FY2013-14. 
	These sectors only have 30% of the total credit share and the <keyword id="6355548" type="ORGANIZATION" weightage="100" keywordseo="Public-Sector-Banks">public sector banks</keyword> were the chief sources of stress, the central bank said.<o:p></o:p>

	As per the <keyword id="30067" type="ORGANIZATION" weightage="100" keywordseo="RBI">RBI</keyword>, the gross bad loans in the system went up to 4.1% in FY2013-14 from 3.4% a year ago. The gross NPA ratio for the non-priority sector increased to 4% as in March this year as against 3% in the year-ago period.<o:p></o:p>

	“The non-priority sector has contributed more in the deterioration of the loan asset quality of the banking sector in recent years,” it said. The contribution of PSL loans to the total bad loans dipped to 36% in FY2013-14 from 40% in FY2012-13.<o:p></o:p>

	It also said the contribution of mandatory priority sector loans to the overall bad assets have come down during the last financial year.<o:p></o:p>

6 Crucial Sectors Contribute To 36% Of Total Bad Loans

<ul><li>The <keyword id="1197189" type="ORGANIZATION" weightage="20" keywordseo="Indian-Bankers-Association">Indian Bankers Association</keyword> (IBA) has decided to distribute one month’s extra salary to public sector bank employees.</li><li>The bank unions are unhappy that they were not consulted on this decision despite ongoing negotiations around wage revision. </li><li>Some bankers are also unhappy with the move since it means paying more income tax.</li></ul>Public sector bank employees in India are owed a wage revision from two years ago. Instead of the much awaited hike, the Indian Bankers Association (IBA) decided to dole out an ad hoc amount of one month’s salary. New salaries for employees in public sector banks have been due since 1 November 2017. Negotiations were initiated in June 2017 and in the last meeting, which took place on 17 September 2019, the negotiating committee proposed a 12% hike in wages — but no conclusive agreement has been reached yet. In the interim, banks’ staff will get a raise, meant for the entire year, and this will be equivalent to a month’s salary along with a 12% hike, according to documents seen by Business Insider. This payout has been timed such that employees have additional cash ahead of the key festive season of Diwali and Dussehra. Any bank employee who joined after 1 November 2017 will only be getting an ad hoc amount equalling to 15 days’ salary. Bank unions unhappy with decision All India Bank Officers' Confederation (AIBOC) isn’t happy with the IBA’s decision to compensate by giving out a month’s salary. They claim that they were not consulted on this decision. The IBA’s decision to disburse an ad hoc “undermines the very existence of trade unions” and “underestimates the quality and character of bank employees,” according to the AIBOC in a statement. The arrears were distributed as scheduled on 4 October 2019 by the State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB) and UCO Bank. Other banks distributed the ad hoc arrears one day later. Due to the union’s reaction, these banks decided to give bankers the choice to opt in or opt out of accepting the arrears. This takes the responsibility for the ad hoc amount off the bank’s plate and on to individuals. The bankers conundrum It should be noted that these arrears are not bonuses but will be adjusted against the actual payable amounts after the outcome of the ongoing wage negotiation talks. The ad hoc wages will also be adjusted for income tax and other statutory deductions. This could complicate matters for staffers and officers who did not fall into the taxable income bracket before the addition of the ad hoc amount, but will now be subject to income tax. See also: <a href="https://www.businessinsider.in/sbi-and-private-banks-will-gain-customers-due-to-the-latest-news-on-psu-bank-mergers-says-clsa/articleshow/70942009.cms">SBI and private banks may gain customers from India's government banks' mergers</a> <a href="https://www.businessinsider.in/business/news/public-sector-banks-in-india-to-have-uniform-timings-across-all-states-starting-today/articleshow/71386948.cms">Public sector banks in India to have uniform timings across all states starting today</a>

Here's why the staff at India's government banks are not happy with the salary hike ahead of the festive season

New Delhi, May 11 () The review meeting of Finance Minister Nirmala Sitharaman with CEOs of public sector banks (PSBs) scheduled for Monday has been postponed. According to sources, the meeting has been deferred and the new date will be informed shortly. The meeting, to be held via video-conferencing, was to discuss various issues, including credit offtake, as part of efforts to prop up the economy hit by the COVID-19 crisis. The agenda also included taking stock of interest rate transmission to borrowers by banks and progress on moratorium on loan repayments. The RBI had on March 27 slashed the benchmark interest rate by a massive 75 basis points and also announced a three-month moratorium to be given by banks to provide relief to borrowers whose income has been hit due to the lockdown. Earlier this month, RBI Governor Shaktikanta Das held a meeting with heads of both public and private sector banks to take stock of the economic situation and review implementation of various measures announced by the central bank. DP DRRDRR

FM meeting with heads of public sector banks gets deferred

<ul><li>The government has reportedly asked the RBI to draw up a list of banks that can be merged as well as a possible timeframe for their consolidation. </li><li>The move is a response to the deteriorating asset quality of smaller, weaker banks and follows the successful absorption of five associate banks by the SBI last year. </li><li>Currently, government-owned banks account for 90% of bad loans despite owning less than 70% of the banking system’s assets.</li></ul>In its annual report yesterday, the Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> (RBI) cautioned that the bad loan crisis could continue in the coming years. The central bank expects the <keyword id="919276" type="PERSON" weightage="20" keywordseo="non-performing-loan">non-performing loan</keyword> ratio, which is currently 12.1% of all loans, to rise this fiscal year. This is mostly owing to unfavourable economic conditions such as sluggish credit growth and a less-than-expected pickup in industrial activity. Amid talk of <a href="https://www.businessinsider.in/india-wants-to-establish-a-mega-asset-manager-to-tackle-its-bad-loan-problem/articleshow/64838159.cms">an asset management company </a>and the launch of Project Sashakt, the Indian government is also focused on what it thinks is a tried-and-tested solution to mitigate the crisis and improve governance: bank mergers. The Indian government has reportedly asked the RBI to draw up a list of banks that can be merged as well as a possible timeframe for the consolidation. All 21 public-sector banks will be under consideration. Currently, government-owned banks account for 90% of bad loans despite owning less than 70% of the banking system’s assets. In June 2018, reports emerged that the government was mulling a merger between <a href="https://www.livemint.com/Industry/PFZf4q3BtZ7quULf3tj88N/Govt-weighs-merger-of-Bank-of-Baroda-IDBI-Bank-Oriental-Ba.html">four heavy lossmakers</a> - Oriental Bank, Central Bank, Bank of Baroda and <keyword id="6357560" type="DOMAIN" weightage="20" keywordseo="idbi-bank">IDBI Bank</keyword>. The state-owned insurer, LIC, was eventually “instructed” to take a majority stake in the latter. The case of SBI The enthusiasm for bank mergers follows the successful absorption <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/five-associate-banks-to-merge-with-sbi-from-april-1/articleshow/57314900.cms">of five associate banks</a> by the <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> in April 2017. The impetus behind the merger was to reduce the costs of the smaller banks and shore up their balance sheets. Just like the SBI merger, the government wants larger banks to acquire smaller banks that aren’t well-capitalised and are hurting from a pile-up in bad debts. The merged entity subsequently benefits from a larger capital base and a buffer against risk and liquidity issues. It also becomes better-equipped to take on private sector banks, which is important because public-sector banks have continually been losing market share to their private counterparts. The RBI currently has 11 public-sector banks under its prompt-corrective action framework, which imposes credit extension limits and restructuring requirements. Additionally, a lower number of government-owned banks will also reduce the resources needed for regulatory oversight.

You Searched For "public sector banks india" and got 8 results

Now, your behaviour and mental ability will get you top post in public sector bank

BI India Bureau

Public sector banks in India to have uniform timings across all states starting today

Prabhjote Gill

India To Create First Public Sector Bank Only For Women

Mamta Badkar

Indian government decides to merge ten public sector banks to form four large entities

Prabhjote

Katya

6 Crucial Sectors Contribute To 36% Of Total Bad Loans

BI India Bureau

Here's why the staff at India's government banks are not happy with the salary hike ahead of the festive season

Prabhjote Gill

FM meeting with heads of public sector banks gets deferred

PTI

The Indian government wants to merge more public-sector banks

Dilsher Dhillon

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