The staff and officers of banks and insurance companies are expected to go on a day long strike following a call by major central trade unions on Tuesday (February 24) demanding a wage revision.
All India Bank Employees Association general secretary and a leader of the bank union movement Tarakeswar Chakraborty died of a heart attack last night, family sources said.
RBI wants periodic revision of the pensions for its retired employees.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
Union Bank of India, United Bank of India reduced base rates.
Sensex, Nifty slightly upbeat, midcaps to rule markets this week.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Asian shares ended higher after a string of positive US economic data.
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
IBA has commissioned a study to evaluate the pros and cons of keeping banks shut on Saturdays.
In the domestic market, the cost is a third but in the international market, we are finding it difficult to price it accordingly.
Banks are in need of government support to manage the stressed assets
The 30-share Sensex ended lower by 46 points at 27,842 and the 50-share Nifty slipped 17 points to trade at 8,378.
The prime minister had openly said the retail sector should be open to competition, domestic and foreign.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
The World War I had been triggered by an assassination in then relatively unknown Serbia.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation.
The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030.
Ten trade unions to go on strike to protest against changes in labour laws
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With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
Taking on board India's concerns, the G-20 Summit on Friday acknowledged that excess volatility of financial flows and disorderly movements in exchange rates can affect economic and financial stability of emerging markets and called for sound policies to address it.
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
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