Finance Minister Arun Jaitley on Sunday said the government is planning to bring down its stake in public sector banks to 52 per cent so as to meet Rs 3 lakh crore capital requirement.
Suggesting steps to boost the Indian economy, the IMF chief further said the government should focus on fiscal consolidation.
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The penalty was levied in connection with deficiencies and lapses in the operation and maintenance of the currency chest at the Secunderabad branch of SBI, it said. Last month, the RBI had imposed a penalty of Rs 3 crore (Rs 30 million) on SBI for violating know your customer/anti-money laundering norms.
Mid-cap and small-cap stocks on the BSE were on the buyers' radar on Tuesday as investors booked profits in large-cap shares and the benchmark Sensex fell 264.57 points from a record close.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
This is the first tranche of capital infusion for the fiscal and more funds would be provided in future depending upon the performance of PSU banks.
A day after Prime Minister Narendra Modi expanded his Cabinet, the Congress accused him of including "tainted" ministers in the government contrary to his election rhetoric of "cleaning up" Parliament of criminals.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
S&P BSE Midcap and the S&P BSE Smallcap indices gained 2% and 1.6% respectively
If a name does not unify the three, there could be continued clash of identities, which could splinter the brand even before it takes shape, say Abhijit Lele and Nikhat Hetavkar.
Vijay Mallya left India on March 2, presumably for London.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
According to the RBI's Financial Stability Report, the industry's gross bad-loan is at a 14-year high. As RBI's March 2017 deadline for banks to clean up soured credit looms closer, Shailajanand Mishra takes stock of just how bad the situation is.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
Next set of Q4 FY16 earnings, progress of monsoon along with election poll outcome will dictate market trend this week
'There was the indisputable fact that Savarkar knew Godse, Apte and Karkare well, he had corresponded with them closely, and funded their extremely provocative newspaper, and they looked up to him as their icon.'
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
The consortium led by SBI has also initiated the process of recovery.
The state-owned bank's loss largely offsets the Rs 1,800-crore (Rs 18-billion) capital injection the government will make in FY14.
During the first quarter ended June, 2014-15 fiscal, LIC earned a total premium of Rs 14,016 crore.
12 out of 21 public sector banks reported declines in their loan books in the last financial year against seven such banks in 2015-16 and none in 2013-14.
Punjab National Bank is the second largest PSU bank, in which government holding is 58.87 per cent.
Monetary transmission has been an issue for the Indian banking sector.
The I-T department said NuPower's balance sheet did not substantiate the high premium paid by Singapore-based DH Renewables for its shares, and suspects it could be a case of round-tripping of unaccounted income by NuPower.
The question may sound irrelevant, but several public sector banks seem to have a different view.
As part of their deal Diageo agreed to pay Mallya, $75 million for stepping down as chairman of United Spirits and for entering into a non-compete pact
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
Follow these tips to get ready to celebrate with sweets and kites with your friends and family in your new house next Pongal.
While the CEO of a public sector bank earns an average of Rs 18 lakh per annum, his counterpart in the private sector earns an average of Rs 3.5 crore.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
At least five state-run banks on central bank's radar for lax credit appraisal
The Central Bureau of Investigation has arrested an Reserve Bank of India official and a JDS leader K C Veerendra, who is also a casino owner, in connection with separate cases relating to alleged illegal conversion of currency post-demonetisation.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
