The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
The size of the Indian financial services market could touch around $340 billion in the next few years.
Executives are dusting down the musty corner offices at private banks and spearheading a quiet revolution in the way they function.
With the addition of the seven banks - South Indian Bank, Karur Vysya, State Bank of Hyderabad, State Bank of Bikaner, State Bank of Travancore, State Bank of Mysore, and Punjab and Sind Bank - the number of banks allowed to import the precious metals now stands at 30.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A portion of the 15-foot tall private compound wall, totally wet due to heavy rains lashing the area for the past few days, fell on the adjoining tiled-roof houses in Nadur village.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Rediff readers tell us how they spent their first salaries.
For the first time, consumers, including those at the so-called bottom of the pyramid, are monetising gold by taking loans from banks, offering the yellow metal as collateral, says Tamal Bandyopadhyay.
Protests were held across Tamil Nadu with raising of slogans-- "Vendum Vendum Kudineer Vendum" (we want water) and "Edappadi Arasai Kandikirom" (we condemn chief minister Edappadi K Palaniswamy's government).
30-year-old Krishnamurthy, founder, Honey Kart, quit his job as a technical programmer at Wipro, and borrowed money from friends to become a beekeeper. Today he is not only debt-free but also processes 500 kilograms of honey every month that sells for Rs 716 per kg.
Flight services were disrupted in Karnataka while in Tamil Nadu, heavy rains battered Karur, Ariyalur, Perambalur, Thanjavur, Tiruvarur and coastal Pudukkottai and Nagapattinam districts.
Sounding a statewide alert, the Tamil Nadu police on Monday detained 96 persons and stepped up search operations across the state following the theft of 17,100 detonators used for quarrying purposes, from a private godown at Karur near Tiruchirappalli. "We are serious about the theft and are probing the matter. We have already detained 96 persons in connection with the matter," DGP K P Jain said.
About 40 bull tamers were injured, they said.
New Union minister L Murugan's declaration of Kongu Nadu as his native place, instead of Tamil Nadu, may be part of a grand BJP strategy to create new states out of existing ones, particularly those that have anti-BJP governments, mulls N Sathiya Moorthy.
Anil Dhirubhai Ambani Group company Reliance Energy Ltd on Thursday announced it has bagged three road projects valued at Rs 2,320 crore (Rs 23.2 billion) from National Highways Authority of India.
While Rakesh Jhunjhunwala is up 14.9% during the year to Rs 12,381 cr, Ashish Dhawan is up 68.4% to Rs 810 cr, Ashish Kacholia is down 23.4% to Rs 515 cr, Rajiv and Dolly Khanna are down 74.6% to Rs 116 cr and Vijay Kedia is down 6.2% to Rs 294 cr.
In separate letters to the two banks, located at Mylapore area, he said that under the relevant party laws, he continued to be the AIADMK treasurer.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Thirteen persons were killed and 27 injured in a collision between a government bus and a cement laden lorry at T Kallupatti, about 40 km from Madurai in Saturday, police said.
The rain claimed the life of a eight-year-old girl, who was crushed to death when a portion of her hut collapsed early on Tuesday.
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
The incident occurred in Balammalpuram in Tamil Nadu's Karur district.
Union Minister M Venkaiah Naidu on Tuesday deplored violence against dalits in the name of cow protection
The MNM chief also said that he was not afraid of being arrested but warned any such action would escalate tensions.
Kandha was run over by a train while trying to save his schoolmates at an unmanned crossing near Amur in Karur district.
The squatted there, raised slogans against the National Eligibility-cum-Entrance Test and demanded justice for Anitha, a Dalit medical aspirant and anti-NEET court petitioner who committed suicide on Friday.
"She is completely aware of what is happening. Asks and demands what she wants and I believe and everybody, even she, is looking forward when she will go home and take back the reigns," said Apollo Hospitals Chairman Pratap C Reddy.
Special prayers and celebrations were held on Monday by ruling All India Anna Dravida Munnetra Kazhagam party workers across Tamil Nadu on the occasion of the 'star birthday' of Chief Minister Jayalalithaa.
At a time when senior Congress leaders are shying away from contesting the April 24 Lok Sabha elections in Tamil Nadu and despite a lack of enthusiasm among cadres, there is a race to get tickets to contest from select constituencies perceived as "winnable", party sources said.
The decision was taken on October 3.
It looked as if the BJP was hoping to use Rajinikanth to press their seat-bargain with the AIADMK. Now with the Rajini bait gone, the question now is not how much the BJP would settle for, but how much the AIADMK would be ready to offer, notes N Sathiya Moorthy.
Disputes over a temple has torn a Tamil Nadu village apart.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
How did marquee Dalal Street investors fare in the Jan-Mar quarter that saw the BSE Sensex tank 10 per cent?
The Amma Makkal Munnetra Kazhagham leader is set to embark on a series of protests covering the Cauvery basin regions of Tamil Nadu beginning Saturday.
Banking services across the country were hit on Wednesday by the day-long strike by 10 central trade unions and 14 bank unions, but workers of largest lender SBI and a few other banks stayed off the agitation.
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