The biggest gainers in the Sensex pack in Friday's session were Yes Bank, Bharti Airtel, Tata Motors, Vedanta, SBI and Axis Bank, spurting up to 3.05 per cent. The losers included HCL Tech, TCS, Infosys, Hero MotoCorp, IndusInd Bank and Sun Pharma, falling up to 1.55 per cent.
Punjab National Bank CMD K C Chakrabarty has quit his post after his appointment as RBI Deputy Governor. "K C Chakrabarty has demitted office on June 14, 2009 on his appointment as Deputy Governor, Reserve Bank of India," PNB said in a filing to the Bombay Stock Exchange.
Price has been fixed at Rs 85.3cr
The National Stock Exchange (NSE) on Monday conducted the first round of mock electronic bidding process for implementing application supported by blocked amount (ASBA), an alternative mode of payment for initial public offerings (IPOs), proposed by capital markets regulator, Securities and Exchange Board of India (Sebi).
Lenders are likely to convert part of the airline's debt into 11.4 crore shares at a consideration of Re 1 apiece as per RBI norms.
In a note to customers, the country's largest lender State Bank of India said, 'Interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period'. The accrued interest will be collected by the lender in the form of additional EMIs from those borrowers who opt for the three-month moratorium.
Government to infuse funds in cash-strapped banks.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
The imapsse continues over issues like bank scams and special status demand for Andhra Pradesh.
Future Capital Holdings has decided to venture into the hedge fund business in the next three months.
Housing Development Finance Corporation (HDFC) Chairman Deepak Parekh on Tuesday said that interest rates may rise owing to higher inflation, but lending rates are unlikely to change in the next one month.
Liquidity has improved, but 20 out of 24 NBFC stocks are staring at an over 5% reduction in 12-month target prices.
The recent hike in the rates will hurt your finances further. Time to do some stock-taking.
Mid-cap information technology (IT) stocks dominate the list of companies that are trading significantly above their 200-DMA
Entities like CarDekho, Cartrade and a host of other online players went live even as Carnation, former Maruti managing director Jagdish Khattar's first entrepreneurial venture, was searching for the right business model, says Ajay Modi.
The IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
The bank had issued the notice alleging the carrier has wilfully defaulted in payment of outstanding dues of more than Rs 770 crore (Rs 7.7 billion).
The capital infusion would help improve the financial health of banks. While some banks would get necessary regulatory capital while others would get it for fueling growth.
The financial fraud, one of the biggest in the state as per records, was being investigated by the different departments of Himachal Pradesh for the past over four years.
Moody's has revised to positive the outlook on the long- term ratings of private sector lenders
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Gitanjali Gems and Firestar Diamonds together account for 5.8 per cent of the diamond and jewellery trade in India.
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
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.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
'I have been advising investors since the last couple of months to at least take their capital out.' 'Most of the people have made 50-60 per cent in the market, if not more, they must at least take their capital out.'
Life insurers need applicants to abstain from tobacco for up to five years.
UTI Asset Management Company will float an initial public offer by March-end 2008 to help its sponsors State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda -- offload up to 50 per cent stake.
Fund houses' tie-ups with the postal department for marketing their schemes through post offices are yet to take off in a bigger way.
Six nationalised banks, including Canara Bank and Bank of Baroda, on Wednesday signed an agreement with Indian Railways for setting up more than 700 ATMs at railway stations across the country.
Nirav Modi, along with his wife Ami Modi, a US citizen, brother Nishal Modi, a Belgian citizen, and uncle Mehul Choksi, all accused in the CBI's FIRs in the case, left the country in the first week of January, weeks before country's biggest banking scam surfaced.
Banks have become more vigilant over the past two weeks, with many more officials involved in loan approval and disbursal.
Habib Bank along with state-run National Bank of Pakistan had applied to RBI, India's banking regulator, for starting operations in India, while SBI, PNB and Bank of India had sought appoval for going to Pakistan.
"He is expected to be produced before the court for a second bail application hearing on March 29," a court official in London confirmed on Tuesday.
India looking at bringing back Choksi under Antiguan law applicable to Commonwealth countries
Switching to a damage-control mode, bankers and government officials claimed that Jet Airways wouldn't fall even if Etihad refuses to back the resolution plan and exits.
The state-owned carrier Indian has finally made its way into the e-ticketing club.
