A forensic probe has been ordered into alleged irregularities by the department of financial services.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
While the government has infused huge capital into PSBs, the same has largely been used to mitigate losses and has failed to contribute meaningfully to credit growth.
Hardik Pandya has been on the road to recovery after going under the knife following a lower-back injury five months ago. Hardik slammed eight fours and 10 sixes in his sizzling innings
The Bank has a total staff strength of over 36,000. The bank had opened 11 new branches abroad and 125 domestically, in 2007-08. At present, it has 74 branches abroad in 25 countries.
'Pump prices of petrol and diesel have reached historical highs. An unwinding of taxes on petroleum products by both the Centre and the states could ease the cost-push pressures,' the Monetary Policy Committee (MPC) has said.
A debt recovery tribunal in India ruled that Rs 6,200 crore of Vijay Mallya's dues -- Rs 5,000 crore as principal and Rs 1,200 crore as interest -- was payable. Mallya claims that out of the sum due, Rs 3,000 crore had already been recovered by the claimants.
For non-callable deposits above Rs 1 crore, the interest rate is only five basis points more than the regular FD.
Ajit Mishra answers reader queries on the stock market.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Banks and builders are offering lower rates and freebies, but there is also a case for price correction in the future. Wait, if you are not desperate.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
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.
'We are open to directing a Khiladi 2.' 'And we would want to do it with Akshay who is still so fit, energetic and successful.'
The first such interaction would be in Mumbai on Monday.
Aspirants banking on experience and domain knowledge of veterans
Only BoB is making noise about customers and customer service
As a young management trainee with SAIL, Pallav Mohapatra was spoilt for choice. He had offers from Allahabad Bank, Bank of Baroda, Indian Bank, Indian Overseas Bank and State Bank of India. He chose SBI only because the bank offered him a posting in Lucknow.
Kamalesh Chandra Chakrabarty has joined Punjab National Bank as its executive director and K Ramakrishnan has taken over as executive director of Bank of Baroda.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Fit-again India all-rounder Hardik Pandya is attempting to make his comeback by taking part in the D Y Patil T20 tournament, starting in Mumbai, on Monday. Shikhar Dhawan and Bhuvneshwar Kumar are also on their road to recovery after sustaining injuries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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
Standard Chartered cuts base rate by 0.25%
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
Since January 2021, the inflation rate in health has stood in the range of 6.08-8.44 per cent.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
"We remain positive on the outlook for the emerging market (EM) equities. Although this asset class is entering its sixth year of outperformance compared with the world equities, valuations are not yet expensive on a historic and relative basis, especially in the light of a much higher growth potential at the earnings level," says Angus Stening.
Rating agencies on Wednesday warned against more exposure to debt-ridden Kingfisher Airlines, saying more debt may hit banks' credit profiles and add to the burden of provisions.
Rating agency Fitch on upgraded outlook of 10 financial institutionals, including SBI, ICICI Bank and EXIM Bank of India to 'stable' from 'negative' earlier following revision in the country's outlook.
'This is for the first time home loan rates have dropped below 7 per cent,' notes Tamal Bandyopadhyay.
The S&P BSE 500 index, which accounts for 94% market capitalisation of BSE listed companies, has gained 45% from its March 24 low. However, out of the BSE 500 index stocks, 225 have underperformed the index by gaining less than the broader index during this period.
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).
AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
