According to data compiled by BS Research Bureau for BSE 100 companies, seven public sector companies -- Indian Oil Corporation (IOCL), Bank of India, Union Bank, Bharat Petroleum (BPCL), Oil and Natural Gas Corporation (ONGC), Hindustan Petroleum (HPCL) and GAIL -- have reduced their employee costs ranging from one per cent to 21 per cent.
Lender to acquire 30% after existing shareholders divest stake
According to sources, the central bank is keen on such a scheme to attract foreign exchange, as the country's reserves have seen a depletion in the wake of a weakening domestic currency.
Demand on rise as companies look to expand in Asian, European markets
The life insurance arm of the country's largest private-sector lender does it not to expand workforce, but to maintain its strength, as almost a similar number of staffers keeps leaving every month.
Ministry says capital infusion if loans extended only to productive sectors
High crude oil prices, which the central bank perceives as a risk to inflation, may limit the extent of rate cut to 25 basis points rather than 50 bps, economists said.
SBI keeps IDBI waiting for proposal to set up infra development fund
In January, banks had rejected SBI Caps' initial proposal on Air India's debt recast, which suggested converting a part of the carrier's debt into cumulative redeemable preference shares, with an eight per cent dividend.
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
State Bank of India and IDBI Bank have decided not to go to the IIMs this year.
The government must guarantee the entire loan and the interest rate, so that there is no additional provisioning requirement.
Air India's debt recast plan has hit a deadlock with both the national carrier and banks continuing to stick to their stand even as the regulator has disapproved providing dispensation, thus only compounding the problem.
Writes to govt for legal amendment, proposes committee that'll consult other sector regulators.
The finance ministry's ambitious plan to implement portability in savings accounts has not found favour with the Reserve Bank of India (RBI).
Prefer proposal for airline to float bonds guaranteed by govt.
Niche portals like Jewelsnext.com, Caratlane.com and Suratdiamonds.com are making the best use of it, apart from the traditional e-commerce players.
The decision was taken at the State Bank of India headquarters in Mumbai on Monday when the top managements of the lenders met.
Banks face the grim possibility of a chunk of the unhedged loans turning bad.
The government has amended its laws to have a bigger say in the decision making of the Reserve Bank of India (RBI) by having two members on the central bank's board as compared to one now.
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