The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
With their weak metrics and high bad loans, India's state-run banks have not been investor favourites
The stress in the banking sector, which mirrors the stress in the corporate sector, has to be dealt with in order to revive credit growth.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
As the clean-up has taken hold, loan growth slipped to 10.7 per cent in the last fiscal
Bankers and government officials told Reuters Rajan's successor may be less aggressive in fighting bad loans, but the general direction will remain the same
Finance Minister Arun Jaitley said in a Twitter post that the government appreciated all of Rajan's good work and respected his decision
Indian banks would have to make higher provisions for lending to large corporate borrowers above a certain level from next financial year, according to proposals published by the Reserve Bank of India (RBI) on Thursday.
State-owned banks account for more than two-thirds of the sector's assets and about 85 percent of bad debts
The rules make India's health warnings on tobacco products the world's most stringent, along with Thailand
Uber is suing Ola for $7.5 million to compensate for lost revenue and goodwill, alleging the Indian market leader created about 94,000 fake user accounts with the ride-hailing service and used them to make more than 405,000 false bookings
Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
The lenders, led by State Bank of India (SBI), are due to inform the Supreme Court of their decision on the offer at a hearing on Thursday.
Several companies, including Indian units of Abbott Laboratories and Pfizer Inc, and domestic firms like Cipla Ltd and Macleods Pharmaceuticals, went to the Delhi High Court to try to get the ban lifted.
The next hearing on Pfizer's plea is slated for March 21
A notice issued by the Indian Health Ministry at the weekend said that a government-appointed committee of experts had found that the banned combinations were "likely to involve risk to human beings, whereas safer alternatives to the said drug are available."
The banks have asked the court to demand his return and to impound his passport.
The alleged fraud includes the use of fake bills.
Most of the extra spending in the Budget is in fact an accounting entry that shifts the cost of an interest subsidy to the agriculture Budget that was previously borne by the finance ministry
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