In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
The loss of income has severely dented the loan repayment ability of small borrowers
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
Financial shares were the top losers.
Bad debt rules are steps in right direction.
'Rajan brought in a healthy air of competition in the banking sector.'
The challenges before the government, he said, is to put public sector banks back on track and continue to operationalise stalled infrastructure projects
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
We present our alphabet of 2020, pulling in everything you'll remember about this year we'd rather forget.
SBI announced a 0.40 per cent cut in lending rate to 9.30 per cent, which is the most competitive in the market at present.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
A fall in home loan rates since last September as well as a few provisions in the Union Budget 2016-17 are working in favour of the home buyers, says Rajiv Raj
Follow these 6 Cs of building good credit and your lender will never disappoint you!
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
The company is pursuing the early scheduling of gas with the Centre to restart generation.
Infosys, Bharti Airtel and ICICI Bank are the only companies who have managed to score 100% on a Composite Disclosure Index
Some lenders in talks with LIC for pvt placement
Mixed global cues and decline in crude oil prices further dent the sentiments.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
Non-performing assets of banks have been on the rise for past several months due to slowdown in the economy.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
Does the Union government or the RBI see itself as Krishna beheading Shishupal and what will constitute the 101st or indeed the past many sins for which a Sudarshan Chakra will have to be used? More importantly, what are those sins?
Heading Crisil would have been the peak of most people's professional lives. But Roopa Kudva felt that was the right time to change tracks.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Broader markers outperformed their larger peers.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
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The government on Tuesday announced hikes in import duties for gold and silver, but it has yet to unveil other details such as its plan to tax imports of non-essential items.
The clean-up process begun by the Reserve Bank of India runs the risk of spiralling out of control.
SBI, LIC and HDFC, have showed double digit growth.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
New strategy for Infosys by October, says Nandan Nilekani. New chairman's other priorities: Hiring CEO, reviewing Panaya probe reports.
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
'The Modi government needs some big private sector trophies to affirm its anti-corruption credentials before the polls.' 'So on whose neck will the sword fall next?' 'To that extent, the outing of the ICICI Bank-Videocon story is cathartic,' says Shekhar Gupta.
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
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