Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
Central Bank of India's 21.5 per cent assets are either bad or have been restructured.
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.
His statement assumes significance in the light of scams in the state-owned banks.
PNB reported the maximum number of such frauds.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
The amount you can raise via a gold loan is higher than you can get via a personal loan.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
Bank unions - officers and workmen - had buried their differences and sat across the table on August 29 to work out a fresh deal with the IBA involving a 20 per cent wage hike.
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The penalty was levied in connection with deficiencies and lapses in the operation and maintenance of the currency chest at the Secunderabad branch of SBI, it said. Last month, the RBI had imposed a penalty of Rs 3 crore (Rs 30 million) on SBI for violating know your customer/anti-money laundering norms.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1
The company's Chief Executive Officer G S C Rao, Chief Financial Officer Sanjay Tapriya, Executive Director Gursimran Kaur Mann and five non-executive directors have also been booked by the agency. Gurpal Singh is the son-in-law of Punjab Chief Minister Amrinder Singh.
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
The government has initiated a forensic audit at the state-run Oriental Bank of Commerce and Dena Bank after unearthing of a suspected scam, wherein the lenders allegedly misappropriated funds worth Rs 436 crore from their fixed deposit customers.
The post of chairman and managing director has been split and the government has appointed managing directors and chief executive officers in four banks -- Indian Overseas Bank, United Bank of India, Oriental Bank of Commerce and Vijaya Bank.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
The posts of Chairman and MD in the private sector are held separately.
A special Prevention of Money Laundering Act court has issued orders for attachment of properties worth Rs 143.74 crore of YSR Congress party chief Jagan Mohan Reddy and his associates in a disproportionate assets case being probed by the Enforcement Directorate.
A day after applying for a bank licence, Aditya Birla Group chairman Kumar Mangalam Birla on Wednesday said the new bank licence norms announced by the Reserve Bank are not discriminatory towards large corporate houses.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
The candidate will be expected to have at least two to three years of remaining service.
Even under the RTI response, all public sectors banks have washed their hands of any responsibility.
All listed firms were required to have at least one woman director on their boards from April 1, 2015, as per a Sebi directive.
According to sources, Kingfisher Airlines allegedly diverted funds by opening a current account in HDFC Bank and had a balance of Rs 7.5 crore (Rs 75 million) as on date.
As many as 142 stocks from the S&P BSE500 index are currently trading below their level of May 12, 2014
21 banks have launched United Payments Interface application.
Govt renews search for five PSU bank chiefs; norms relaxed.
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.
Satish Kumar, a resident of Uttam Nagar and who used to work as a vegetable vendor in Keshopur Mandi, collapsed outside an Oriental Bank of Commerce branch, on Najafgarh road, while he was standing in a queue with his friends.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
Borrowers who were hoping for lower interest rates on their home or car loans might be in for some disappointment.
India has 26 public sector banks, 22 private sector banks and 56 regional rural banks.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
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