It also named bosses for Bank of India, IDBI Bank Ltd and Punjab National Bank from within the state sector
'Well, I think every year, in the last few years, has been better than the previous one'
Sensex remained volatile through the day.
"Benchmark prime lending rate is revised from 12.75 per cent to 13.75 per cent," the bank said in its filing on BSE. The decision by the largest lender was expected but came days after a host of other lenders including HDFC, ICICI Bank, IDBI Bank, Bank of India, Axis Bank, Canara Bank, and Yes Bank announced revisions in interest rates.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
In continuation of the interim order dated April 27, 2006 relating to IPO scam, G Anantharaman, whole-time member of Securities & Exchange Board of India passed an interim order on Tuesday.
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
SBI has reduced deposit rates by 40 to 50 basis points across maturities. On deposits for a period of one year up to two years, the bank has reduced interest rates by 40 basis points to 8.10 per cent. And, deposits for any length of time between two years and 1,000 days would now earn an interest of 8.5 per cent against 9 per cent earlier. Other lenders are expected to follow suit.
As IT midcap stocks ride high, it has created speculation around a potential bubble with analysts picking the midcaps' client concentration as the biggest concern area.
The financial position of India's public sector banks (PSBs) has deteriorated sharply over the past financial year.
Meleveetil Damodaran seems to have a knack of setting things right wherever he goes. While his formidable abilities have no doubt played a big role in this, circumstances have also helped him greatly.
The unions have called for a strike against proposed closure of associate banks and their merger with the State Bank of India
Global liquidity expected to continue amid ECB stimulus
New recast plan calls for more loan rate cuts and lower equity returns.
The six banks that have joined the major league are Syndicate Bank, Indian Overseas Bank, UCO Bank, Oriental Bank of Commerce, IDBI Bank and Allahabad Bank.
Analysts attribute this fall to the recent moderation in energy (mainly crude oil) and commodity prices, lowering of input costs for companies in sectors such as FMCG, consumer durables, and automobiles, reports Krishna Kant.
Union Finance Minister P Chidambaram said in the Lok Sabha the Reserve Bank of India and the Securities and Exchange Board of India have taken up corrective measures in the IPO scam.
Bankers made this demand at a meeting with RBI Governor Y V Reddy, ahead of the 2007-8 monetary policy announcement on April 24.
The Reserve Bank of India is unlikely to sanction higher capital market exposure limits to banks which are closer to reaching the regulatory ceiling.
The yield on the 10-year bond may fall to 8.70 per cent due to FII flows in debt.
Besides these entities, IDBI Capital was shortlisted by the interim pension regulator PFRDA for acting as a fund manager and asked to submit bids.
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
His more than two decades long career is a stuff of legends and handing out tips on chasing success, Indian cricket icon Sachin Tendulkar on Friday said one should be smart enough to hide weaknesses against rival bowlers.
With liquidity position in the system being comfortable, credit growth is expected to pick up from now onwards, IDBI Limited Chairman and Managing Director V P Shetty said in Mumbai on Wednesday.
Government is framing a rule that will make it compulsory for regulators like Sebi, Irdai and PFRDA to deposit a significant portion of their reserves into the Consolidated Fund of India.
The judge said the assets of the respondent company cannot be left under the control of UBHL and could be handed over to official liquidator to achieve the winding up process s per the law.
While a little more than 140 penny stocks have doubled in value, 555 have given negative returns in the past year. Of these, 84 shed more than half their value.
With nearly 5% share in the world generic market, are Indian pharma companies ready to go global? How competitive are their current business models?
No major deals above the value of USD 300 million happened last month, causing the decline from January, which registered deals worth USD 3.5 billion, according to a report released by consultancy firm EY on Wednesday.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Investment advisor S P Tulsian and Shahina Mukadam (of IDBI Capital Market) pick out the winners and losers, based on Q1 results of companies.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
Analysts say there is still no visibility of earnings improvement.
