State-owned banks account for more than two-thirds of the sector's assets and about 85 percent of bad debts
The draft guidelines include a move to allow large industrial companies to buy up to 10 per cent stakes in new lenders
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
The surge is a stark turnaround from 2013 when the country's current account gap hit a record high due to outflows on expectations the US Fed would rein in its stimulus programme
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.
After months of denying there was a liquidity problem, Governor Raghuram Rajan has reversed course.
The banks have asked the court to demand his return and to impound his passport.
The alleged fraud includes the use of fake bills.
RBI Governor Raghuram Rajan wanted to improve training for staff, through initiatives such as sending them to other central banks for short stints.
Tata Motors is seeking an image makeover with the curvaceous hatchback, Zica.
The government plans to inject a total Rs 70,000 crore into the lenders over four years
Home loans also pose lower bad-debt risks for the banks than corporate loans.
Fiscal outlook to be little bit challenging next year: CEA
Traders suspect The Reserve Bank of India (RBI) bought bonds and actively intervened in the rupee to support sentiment.
India is more insulated to Fed-related volatility than other emerging markets due to its better economic fundamentals
ICICI Bank has the largest proportion of SDR loans as a percentage of its total, followed by state-run United Bank of India and Canara Bank.
India's central bank kept its key repo lending rate unchanged at 6.75 percent on Tuesday.
The government needs to take positive action to reaffirm that story.
The changes would be the most ambitious overhaul to date of rules governing the liquidation or revival of companies in India.
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