BoI, Union Bank follow, earnings to be impacted.
The temptation to get into businesses that are hot is perhaps too great for any politician, no matter what his public slogans are. Nehru plunged into hot sectors of his time -- engineering and iron and steel. Modi has plunged into digital payments -- the hot sector of his time, notes Debashis Basu.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
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.
Uptick in growth projected in second half of current fiscal based on 10 factors including higher FDI flows, build up of demand pressure, positive GST revenue growth
Banking services were affected on Friday as employees of public sector banks struck work demanding compassionate appointments, fresh recruitments, one more pension option and ban on outsourcing and merger of public sector banks.
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
Lenders say settlements will cross over 100 accounts in the March quarter.
The Finance Ministry is considering a proposal to rope in professionals from the private sector for appointment of chairman and CEO-cum-managing director in state-owned financial institutions as it looks for talent from a wider pool of applicants.
It can if your debit card belongs to a PSU bank
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
The Reserve Bank of India (RBI) on Wednesday gave banks time till October 31 to comply with its guidelines on current account and overdraft facilities. The central bank indicated that it was in no mood to change the proposed rules, but would only allow for stretching the timeline for smoother implementation. The initial deadline had ended on July 31, leading to thousands of current accounts being closed or frozen by banks. Lenders had requested the RBI for some more time to resolve the operational issues in implementing the provisions of the August 2020 circular in letter and spirit.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
The government on Wednesday issued a gazette notification announcing a slew of amendments to 138 Acts of Jammu and Kashmir that included protecting jobs up to Group-4 for only those who are domiciles of the Union territory. The notification said among the laws amended is the Jammu and Kashmir Civil Services (Decentralisation and Recruitment) Act.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
A day after the Reserve Bank of India's monetary policy review, the RBI Governor talked to journalists on related issues.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
The Government of India amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters directly or indirectly related thereto including national security, an official statement said.
Banks have been patient and flexible in rescheduling loans.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
'When the government wants to sell these assets, even if one set of assets gets caught in any quagmire, the whole process will fail.' 'The entire world is watching us.'
In all, 14 unions representing bank employees and officers will be supporting the day-long stir.
To attract potential suitors, the government will ease asset valuation norms for Air India by allowing bidders to put in offers on an enterprise value basis, a source said on Monday. To begin with, the government is likely to further extend the deadline for putting in a preliminary expression of interest for the loss-making national carrier to December 15. The source said bids will be sought on an enterprise value basis - a popular valuation methodology for takeover deals.
Finance Minister P Chidambaram has asked public sector banks to hold interest rates for housing loans at the current rate.
Adani Power expects to reduce its annual interest cost to Rs 1,900 crore, from the current Rs 3,800 crore through low cost funding.
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
Khara will replace SBI Chairman Rajnish Kumar, whose three-year term comes to an end on October 7.
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
If there is a morality tale here, it is that debt and death spare no king.
Public sector banks, in a frenzy to cash in on the retail credit boom during the three years beginning 2003-04
The rally followed the govt's plan to bolster state-owned lenders.
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
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