Amit A Shah holds a stake in 180 listed entities, according to data disclosed in his election affidavit.
Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
A major reshuffle of top executives in 11 PSU banks is on the cards with the chairmen of Allahabad Bank, Corporation Bank, Syndicate Bank, Union Bank of India and Vijaya Bank slated to retire between March-July 2006.
While govt banks are offering lower rates, private lenders are dangling higher loan-to-value proposition.
As many as 20 public sector banks, including big ones like Canara Bank, Bank of Baroda and Union Bank, have failed to achieve the annual farm sector lending target till November, 2009.
Amid stiff competition from private and foreign players, the country's 27 public sector banks logged 35 per cent growth in profit at Rs 16,546 crore (Rs 165.46 billion) while their bad assets fell below 3 per cent during 2003-04.
Banking PSU stocks made a brave comeback on Monday after succumbing to losses Friday following the Union Budget's ignoring a long-standing demand by the sector on FDI limits.
After upgrading India's foreign currency debt rating, Moody's Investor Service on Wednesday upgraded the foreign currency deposit, debt and issuer ratings for 11 Indian banks and financial institutions.
Indian Bank plans an initial public offer in July 2004 to raise capital for funding its expansions, its chairman Ranjana Kumar said on Tuesday.
Finance Minister Arun Jaitley on Saturday proposed to infuse Rs 7,940 crore funds next fiscal in the public sector banks.
Credit-to-deposit (CD) ratio of major public sector and private sector banks during the October-December quarter of FY24 inched up as compared to the previous quarter though government-owned lenders reported a lower rate than their private peers. CD ratio is the ratio of the funds that banks lend as compared to the funds raised in the form of deposits. The CD ratio of top public sector banks (PSBs) - State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank - was lower than their private counterparts.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
Bank stocks took a hammering today as the Centre said it was not in its policy to take back its equity from public sector banks at par value.
'We may see little softness in liquidity position after the stabilisation of the government.'
It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
The move to make the appointment process more robust comes after last month's arrest of S K Jain, chairman and managing director of Syndicate Bank last month, over graft charges.
Domestic equity markets will be driven mainly by quarterly earnings, global trends, and the movement in crude oil prices in this holiday-shortened week, analysts said. Investors would also keep an eye on the Middle East amid the ongoing Hamas-Israel conflict and the trading activity of foreign investors. Markets will remain closed on Tuesday for Dussehra.
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Half the stocks in the Nifty 100 index have seen a reduction in their target price by analysts this year due to fears of lacklustre earnings growth and uncertain economic environment. Adani Green Energy, FSN E-Commerce (Nykaa), Adani Ports & SEZ and Indus Towers are among the companies that have seen the maximum cut in TPs during the first three months of calendar 2023, shows Bloomberg data. On the other hand, Canara Bank, JSW Steel and Bank of Baroda have seen the highest increase in TPs.
The candidate will be expected to have at least two to three years of remaining service.
On BSE, 1,469 shares fell and 1,200 shares rose. A total of 190 shares were unchanged.
A panel headed by RBI Governor selects PSU bank chiefs.
Canara Bank's CMD RK Dubey tries to dispel students' doubts on eligibility criteria, methods of loan repayment and more.
Govt renews search for five PSU bank chiefs; norms relaxed.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
Jet Airways founder Naresh Goyal's cancer was at a preliminary stage and not life threatening, a special court said here on Thursday while refusing to grant him interim bail on medical grounds. The court, however, permitted Goyal, arrested in a money laundering case, to undergo cancer treatment at a hospital of his choice for two months. Goyal (74), who is lodged in Arthur Road jail in central Mumbai, had sought to be released on interim bail to undergo treatment for cancer.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
Some of the public banks showed improvement; much more still needs to be done
PSU bank stocks held the market's attention in morning trades on Tuesday as there's much anticipation that the Union Budget for 2003-04 may bring about the raising of foreign holding ceiling in these banks.
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For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said.
Moody's Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to 'stable' from 'negative'. This follows the upgrade by the US-based rating agency in India's sovereign rating outlook to 'stable' from 'negative' on Tuesday. The agency had affirmed the sovereign rating at 'Baa3'.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
According to the peculiar facts of the case, the six policemen of Jalgaon called three tenants including Vijaykumar Vishwanath Dhawale and Vinod Dodhu Chaudhary to a police station on March 9, 2022 and kept them under detention for 24 hours.
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