Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
Life Insurance Corporation of India has over Rs 7,000 crore in tax demand pending against it, the biggest across various categories.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
Ketan Parekh, an accused in several cases of stock market manipulation, has been convicted by a special CBI court in Mumbai for cheating and sentenced to two years rigorous imprisonment.
Post graduate colleges are aggressively tying up with banks to introduce banking courses.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
Only BoB is making noise about customers and customer service
A forensic probe has been ordered into alleged irregularities by the department of financial services.
For non-callable deposits above Rs 1 crore, the interest rate is only five basis points more than the regular FD.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
The first such interaction would be in Mumbai on Monday.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Bank of Baroda is slated to change its logo on June 6 as part of its brand implementation road map, a move that may require the profit making bank to spend about Rs 600 crore (Rs 6 billion).
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
If there is a morality tale here, it is that debt and death spare no king.
The biggest gainers in the Sensex pack were Sun Pharma, Bajaj Finance, Vedanta, Yes Bank, ICICI Bank, HDFC, Tata Motors, HCL Tech, IndusInd Bank and Axis Bank, rising up to 2.98 per cent.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'This is for the first time home loan rates have dropped below 7 per cent,' notes Tamal Bandyopadhyay.
Mutual fund houses hold Rs 3,400 crore of Yes Bank's 'riskier' bonds. Reliance MF, Franklin Templeton MF and UTI MF account for bulk of these exposures.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
England batter Liam Livingstone fetched a staggering Rs 11.50 crore deal from Punjab Kings, who also roped in West Indies fast bowler Odean Smith, for Rs 6 crore, on Sunday, Day 2 of the TATA Indian Premier League 2022 Player Auction, in Bengaluru.
Vikram Kothari's Rotomac stares at a loan default of Rs 369 crore
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Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Publicly traded banks in India added Rs 1 trillion in bad loans for the quarter ending December 31, 2015.
Consumer goods, durables, automobiles worst hit.
It is also felt that under the current market conditions, the building is unlikely to garner the kind of funds expected from a prime real estate at Nariman Point
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government started promoting cashless transactions but forgot that it needs infrastructure.
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