State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.
Sebi takes 6 merchant bankers to task for lapses in IPO
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
A detailed assessment and internal inspection of the Dabhol power plant equipment by concerned parties including NTPC, GE India and Bechtel is necessary to ascertain the time frame for restarting it.
The government will soon come up with detailed guidelines for private banks including hike in the foreign holding from 49 to 74 per cent and allowing foreign banks to set up subsidiaries in the country.
RBI Governor Raghuram Rajan asked banks to follow suit and pass on the rate cuts.
Government has finalised the appointments of State Bank of India managing director A K Batra and former Industrial Development Bank of India deputy managing director T M Nagarajan, as the two new executive directors of Sebi.
Auto stocks are weighing on the indices.
The country's largest lender, SBI, has reduced marginal cost of funds based lending rate by 0.9 per cent from 8.90 per cent to 8 per cent for one-year tenure, the bank said in a statement.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
Liquor baron Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, is all set to be expelled from the Rajya Sabha as Chairman Hamid Ansari on Tuesday turned down his resignation on procedural grounds.
The Industrial Development Bank of India-led consortium may get the government's backing for taking over the outstanding dues of foreign lenders, as part of efforts to restart the troubled Dabhol Power project at the earliest.
Talks have begun between Indian and foreign lenders of the Dabhol Power Company in Singapore to buy out the latter's debt exposure of over $310 million in the beleaguered company.
Aditya Birla Group on Friday said it donated funds to political outfits through a trust for around 15 years and that these were done within permissible limits of the country's laws.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
Mallya, mired in a controversy for leaving India in the middle of a massive loan default probe, on Monday appeared to distance himself from an interview that quoted him as having said that time was not 'right' to return to the country.
The veteran IM won the National women's 'B' chess title on better progressive scores.
Corporate ministry documents show that the Siva's firm kept taking loans from public sector banks like State Bank of India, Punjab National Bank which gradually turned to bad loans.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances