The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
Where do Vijay and his TVK expect to get their votes from? Vijay has a huge fan following among women, but will they automatically become his voters like they had done for MGR's AIADMK, asks N Sathiya Moorthy.
Is Chandrababu Naidu being in jail an opportunity? How will the TDP capitalise on it? Or will it implode with nothing more than a sigh?
The premises are alleged to be of the domestic help of Jharkhand Rural Development Minister Alamgir Alam's personal secretary Sanjiv Lal.
Capital infusion seen necessary for banks to maintain regulatory norms at the time of paying interest towards AT-1 bonds
Temperatures in 17 locations breached 48 degrees Celsius on Monday, with the relentless heat affecting health and livelihoods across large parts of northwestern and central India.
'We need to be far more careful given the fact that while this is group lending, it's essentially unsecured.'
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
India's private and state government-owned ports (non-major ports) continued to grow faster than those owned by the Centre (major ports) through the first three quarters of 2023-24 (FY24), cargo handling data shows. At 604 million metric tonnes (mmt), cargo at major ports grew by 5 per cent between April and December, while non-major ports' cargo traffic growth was 11 per cent at 531 mmt. During December 2023, central government-owned ports in India handled cargo volumes of 69.9 mmt, a tepid year-on-year (Y-o-Y) growth of 0.7 per cent.
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The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
The Centre on Monday extended the ban on terrorist group Students Islamic Movement of India (SIMI) for five years for its involvement in fomenting terrorism and disturbing peace and communal harmony in the country.
Future Gaming of lottery king Santiago Martin was the biggest purchaser of electoral bonds at Rs 1,368 crore, of which nearly 37 percent went to the DMK.
Vigilance Commissioner Suresh N Patel was on Wednesday appointed as the Central Vigilance Commissioner, a year after the post fell vacant.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
For FY21, CSB is looking at growth of around 25 per cent and is confident of doubling it in two years. And it is also exploring options to acquire a mid-size bank with a good client base and branches in the north to acquire an all-India presence.
In nearly 100 seats, the BJP stands almost no chance of winning. In 200 seats, it is a direct fight between the BJP and the Congress where the BJP has an upper hand. In 243 seats, the BJP is pitted against regional parties and it is not going to be easy. That is why 400 seats may end up as a pipe dream, states Ramesh Menon, author of Modi Demystified: The Making of a Prime Minister.
The Congress wants to reinforce the tax more powerfully now after its four generations reaped benefit of the wealth passed on to them, he said.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29 to protest against the government policies affecting workers, farmers, and people.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
SBI remains a favourite of most brokerages in the PSB segment.
The capital infusion would help improve the financial health of banks. While some banks would get necessary regulatory capital while others would get it for fueling growth.
MCA blamed its financial troubles on non-receipt of payments from the Board of Control for Cricket in India for the last 10 months.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
SBI announced a 0.40 per cent cut in lending rate to 9.30 per cent, which is the most competitive in the market at present.
Energy's exit is a cautionary tale for several foreign investors in India as close to 16 Gw of solar and wind power projects languish without any power purchase agreement, 24 Gw without transmission connectivity and around 2 Gw unilaterally cancelled by project developers.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
Prime Minister Narendra Modi presented gifts from Sri Ranganath Swamy temple in Tiruchirapalli to the newly constructed Ram temple in Ayodhya.
'The temple's construction is the result of collective wisdom of some of the best brains in the country. Water and sacred soil from almost all pilgrimage sites in India, including Gangotri, Yamunotri, Kailash Mansarovar, Prayags (there are seven Prayags) and all 'puris' (seven holy towns in India, besides Ayodhya) have been used in the making of the temple'
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
The country's real GDP growth in the first quarter will be better than the Reserve Bank's estimate of 8 per cent, economists said on Tuesday. Economists at the country's largest lender SBI pegged the growth at 8.3 per cent while domestic rating agency Icra estimated it to come even higher at 8.5 per cent. The Reserve Bank of India (RBI), which expects the GDP to grow at 6.5 per cent in FY24, has estimated a growth of 8 per cent in the April-June period.
PNB has rich experience in the integration of commercial banks.
Steep yourself in the atmosphere of some of most revered Hindu temples in India.
The country's per capita income is likely to grow by close to 70 per cent to $4,000 by fiscal 2030 from $2,450 in fiscal 2023, helping it become a middle-income economy with $6-trillion GDP, more than half of which will be coming in from household consumption, says a research report. Per capita income/GDP has risen from $460 in fiscal 2001 to $1,413 in fiscal 2011 and further to $2,150 in fiscal 2021. The biggest growth driver will be external trade which may nearly double to $2.1 trillion by 2030 from $1.2 trillion in fiscal 2023 when the GDP printed in at $3.5 trillion, Standard Chartered Bank said in a weekend report which assumes a 10 per cent nominal GDP growth annually from now on.
A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
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