Banks have as much as Rs 3,652 crore (Rs 36.52 billion) of unclaimed deposits lying with them, with the State Bank of India (SBI) alone accounting for about 15 per cent of the amount, the government informed Parliament on Friday.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
HDFC Life, which posted a consolidated net profit of Rs 281.83 crore (Rs 2.81 billion) for the quarter ended June compared with Rs 11.92 crore (Rs 119.2 million) in corresponding period last year (according to HDFC's first quarter results), has diversified its distribution mix.
Contactless card transactions can be up to three times faster than cash payments
Contactless card transactions can be up to three times faster than cash payments
On February 11, 2009, Subhiksha announced that it was closing down all its 1,600 outlets till May 2009.
Its registration is unusual because the firm appears twice in the RoC database, but different identification numbers.
'If the new rate is lower than your current rate, ask your bank to shift you to it.' 'This can be done by paying a fee of Rs 5,000 to Rs 6,000.'
Staying healthy is good news for the insurance company as well since it implies lower claims. Insurance companies offer discounts anywhere between 8 And 30 per cent discount on premium.
Index heavyweights continue to be top losers with ICICI bank.
The spike at private sector lenders like ICICI Bank and Axis Bank follows a push to grab market share from India's dominant state banks.
The exploration company will buy back shares from January 23 and extinguish them.
German Chancellor Angel Merkel, French President Francois Hollande, Chinese Prime Minister Li Keqiang, Pakistan Prime Minister Muhammad Nawaz Sharif and Switzerland President Simonetta Sommaruga would be participating in the 45th edition of the meet.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
The progress of the GST Bill in Parliament is also likely to remain in focus
CBI on Monday submitted a list of five witnesses, including Anil Ambani, who are scheduled to be called for recording of their statements before the court.
Gains were led by Tata Motors on robust Q1 earnings and HDFC Group shares.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
After sight-seeing the Taj Mahal in Agra and the Sabarmati Ashram in Ahmedabad, Canadian Prime Minister Justin Trudeau got down to work in Mumbai. He, along with his wife Sophie Gregoire Trudeau and three kids -- daughter Ella Grace and sons Hadrien and Xavier - arrived in the country's financial capital on Monday night. Here are snapshots from Day 3 of their visit.
The meeting will focus on how to make the crisis an opportunity for India.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
Regulators and investigators around the world have access to sophisticated tools making it possible to detect white collar crimes. This is where Indian investigators and regulators have been found wanting, says Sudipto Dey.
Indian companies have made acquisitions of $1 billion so far in January
Risk sentiment is likely to be favourable if oil prices stay benign, global growth sentiment remains robust and the dollar index does not break out, says B Prasanna.
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
The 30-share Sensex ended 271 points higher to end at 28,930 and the 50-share Nifty climbed 76 points to close at 8,776.
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.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
There is a narrow chance that the central bank may cut rates in the future, according to a poll of 15 economists and treasurers.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
The recent default on deposit payments by a couple of Yash Birla Group companies has brought to surface difficulties an investor has to face in recovering his money.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
Decision to build or buy a platform is a function of price but buyouts are helping large investors create a medium and influence outcomes.
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