Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for Ruchi Soya.
The government has identified 51 districts in 16 states for the roll out of the scheme.
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.
Standard Chartered cuts base rate by 0.25%
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
'The PSBs ended up recording Rs 7,709 crore losses in the March quarter compared to the Rs 11,688 crore profits of their private peers,' reveals Tamal Bandyopadhyay.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
With growth rate falling and with inflation continuing to be flat expects a rate cut
Ramila Jamra sustained a bullet injury in the leg when the service rifle of security guard went off accidentally outside a branch of Central Bank of India on Wednesday.
Sustained dollar demand from importers and banks amid weakness in the equity market and the firming dollar overseas mainly affected the rupee value against the dollar, a forex dealer said.
Executive directors from different banks are eligible to be promoted to the post of chairman and managing director.
The Central Bureau of Investigation on Wednesday arrested eight people, including the chief executive officer of LIC Housing Finance, for allegedly giving corporate loans for monetary considerations.
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
Expressing happiness over the growth of the banking sector in the last 10 years, Finance Minister P Chidambaram today described it as a great achievement of the United Progressive Alliance rule.
The comments come within a month of the arrest of seven people, including the chief executive of LIC Housing Finance by the Central Bureau of Investigation in connection with the scandal.
Elaborate security arrangements have been made ahead of the visit of President Pratibha Patil and her Russian counterpart Dmitry Medvedev in Mumbai on Wednesday, the police said.
There are certain key points that one must know when while applying for education loans
Nine days after their arrest in a cross-country housing loan scam, a special CBI court on Friday granted bail to all the eight accused, including LIC Housing Finance CEO Ramchandran Nair, after observing that their custody is not required further.
Other bankers who attended the meeting at Mint Street included SBI chairman-cum-managing director O P Bhatt, ICICI chief executive and MD Chanda Kochhar, Standard Chartered's India head Neeraj Swaroop and HDFC Bank MD Aditya Puri, among others.
While sources in Iran confirmed the dispute, officials of the central banks of both countries are set to meet on Friday.
According to government data, the Indian economy grew by an average of 8.9 per cent during the first-half of the current fiscal or the April-September period.
According to media reports, CBI conducted raids in prominent finance companires -- LIC Housing Finance and Central Bank of India with regards to a multi crore housing scam.
A panel headed by RBI Governor selects PSU bank chiefs.
The government has asked central PSUs to sponsor the Commonwealth Games even as state-owned firms, including the Railways, have already committed Rs 200 crore (rs 2 billion) for a "good cause".
The bank, which functions from 9 in the morning to 9 in the night, has received tremendous response from the residents.
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
The floating rate term deposit product will offer no guarantee on returns, as the interest will change with the revision of base rates.
RBI on Tuesday raised its short-term lending and borrowing rates by 0.25 per cent and 0.50 per cent respectively to bring inflation down to six per cent by March 2011 from double digits now.
At present, the rates on term deposits are as high as 10 per cent for some maturities. For instance, Karur Vyasa Bank and Federal Bank are offering 10 and 9.6 per cent for one-year term deposits.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
Central Bank of India has said it will take a decision in the current financial year to enter insurance business.
Retail and corporate borrowers can breathe easy as bankers today said an immediate hike in lending rates is unlikely, although the RBI tightened monetary policy by raising key rates.
The country's largest public sector lender State Bank of India on Monday fixed its benchmark lending rate at 7.5 per cent following a Reserve Bank directive, a move that will end the practice of sub-prime loan to corporates.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
The current employee strength of all state-run banks is about 672,000.
They have also been accused of extending loans for criminal intent of falsification of repayment by a number of borrowers, including some entities associated with large corporate groups.
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