Union Bank of India, Canara Bank, Andhra Bank, Saraswat Co-operative Bank and YES Bank have come together to allow inter-bank fund transfers through debit cards.
Fruits, vegetables and eggs continued to witness deflationary trend during January this year, with their prices declining 4.18 per cent, 13.32 per cent and 2.44 per cent, respectively.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Top gainers in the Sensex pack were TCS, Bharti Airtel, Infosys, Axis Bank, L&T, ITC, PowerGrid, HCL Tech and Tata Steel, ending up to 2.39 per cent.
'The move towards fiscal consolidation had to be diluted because of the relief to farmers as the government wants to appease the voters.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
It recorded total income of Rs 54,606 crore (Rs 546.06 billion) and net profit of Rs 9,810 crore (Rs 98.10 billion) on stand-alone basis.
The Board of Control for Cricket in India's four-member working group, formed to study the Justice Lodha panel's verdict relating to the spot-fixing scandal in the sixth edition of the Indian Premier League in 2013, on Monday met for the first time to discuss the way forward for the cash-rich league's next edition and said the sponsors are fully behind the Board.
Among top losers that dragged down key indices were Infosys, TCS, Reliance, SBI, Tata Steel and ITC, falling up to 2.15 per cent.
The collective headcount of the five banks stood at 1,99,555 as on March 31, 2013.
Their return on assets and fee income could be hit as the Reserve Bank might tighten other norms.
With growing capital markets and business friendly climate, nearly 1.4 lakh investor accounts were opened on an average every month in the last one year.
The IRP has admitted 33 claims from banks worth Rs 8,462 crore, and is verifying Rs 15,044-crore claims from operational creditors and staff.
In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 per cent. Sun Pharma was the biggest loser, cracking 5.78 per cent.
Sector-wise, banking, IT, pharma and realty indices drove the market momentum.
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
The biggest gainers on both bourses were Bharti Airtel, HDFC duo, L&T, Bajaj Auto, Kotak Bank, Reliance Industries, Axis Bank, ICICI Bank, SBI, ITC and Bajaj Finance, rising up to 4 per cent.
The aggregate numbers suggest an improvement in the operational performance of these companies.
By becoming associate sponsor, STAR Plus brand will get assured mileage on broadcaster SET Max.
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
Losers included Bharti Airtel, SBI, Wipro, Vedanta, Maruti Suzuki, ICICI Bank, Axis Bank and Reliance Industries, falling up to 2.18 per cent.
Gujarat and Jharkhand are most favourably placed in terms of smaller share of public sector employees and lower liability on pension, wages and salaries.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
Kotak Bank was the biggest loser in the Sensex pack, falling 3.71 per cent, followed by RIL, HDFC Bank, Bajaj Finance, PowerGrid, IndusInd Bank, Asian Paints, HDFC and ITC.
The Budget should serve as a trigger to kick-start the investment cycle in the economy, says Rana Kapoor managing director and chief executive office of Yes Bank.
YES Bank raises base rate; HDFC Bank, Axis hike deposit rates.
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
Time opportune, with market buoyancy and entry of new entities
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
The organised market is likely to grow to Rs 4.8 trillion by 2016-17.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
The biggest losers in the Sensex pack were Vedanta, Tata Steel, M&M, Tata Motors, Maruti, Hero MotoCorp, PowerGrid, Bharti Airtel, SBI and Coal India -- falling up to 4.48 per cent.
Private lenders like Federal Bank and Axis Bank have set up branches that have special areas for children, with books, toys and video games to keep them engaged while their parents are busy doing banking transactions.
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
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