The recent three-bank merger seems to be grossly negative for Vijaya Bank and Bank of Baroda in the short term, as the negative net worth of Dena Bank will have to be absorbed by the merged entity
The Reserve Bank on Friday said the economy would grow by 5 to 5.5 per cent in the current fiscal, pinning its hopes on good farm output and improved exports.
Banks are clear that lending rates are not going to fall further, say Hamsini Karthik and Anup Roy.
The BSE Sensex gained 104.63 points to end at 33,147.13, while the broader Nifty spurted 48.45 points to finish at 10,343.80.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
The efforts will also be made to introduce mobile banking on all kinds of phones, Finance Minister Arun Jaitley told reporters after meeting the heads of PSU banks here on Thursday.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
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Bank stocks took a hammering today as the Centre said it was not in its policy to take back its equity from public sector banks at par value.
A second-half blitz gave the Goa side a 4-1 victory in the National Football League.
In a thread of tweets, Mallya claimed, "The airlines struggled financially partly because of high ATF prices. Kingfisher was a fab airline that faced the highest ever crude prices of $ 140/barrel. Losses mounted and that's where banks money went. I have offered to repay 100 % of the principal amount to them. Please take it."
A fine brace by Brazilian striker Marcos Pereira gave the Goa side full points in the National Football League match.\n\n
Employees of PSU and private banks, except State Bank of India, will go on a day-long strike on July 28 to oppose outsourcing of jobs, demand one more pension options and fresh recruitment of staff.
The new interest rates will be effective from August 19 and will be applicable to both resident and non-resident customers.
More than half of the total subsidy provisioning, amounting to 54 per cent, is going towards food subsidy, which is estimated at Rs 184,220 crore for 2019-20 - a 7.5 per cent increase over the revised estimates for 2018-19.
The goalkeeper turned in a fine display as the bankmen beat Mahindra United 2-1 in the National Football League.
Kotak Bank was the top gainer in the Sensex pack, ending 4.31 per cent higher. PowerGrid, TCS, ICICI Bank, SBI, HCL Tech, NTPC, Infosys, Bajaj Finance, HDFC duo, ONGC, Vedanta and IndusInd Bank too rose up to 2.84 per cent.
The mid-cap index fell while small-cap advanced.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Jaitley also asked banks to take steps to ensure smooth credit flow to projects.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
If warranted they can initiate criminal proceedings including filing of FIR, a Finance Ministry official said.
'Banks will continue to increase FD rates to attract more deposits and meet the increasing demand for credit.'
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.
The Adani group has the maximum number of companies in the trillion club at five, followed by the Tata group (four).
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
'It is going to be a buyers' market and you will get a good number of companies at reasonable valuations and that's when one has to be very greedy.'
Despite the large economic impact of the Covid-19 pandemic, the markets have recovered sharply even though the performance among individual stocks has been quite polarised.
Nearly 700 of the 1,500 employees, who still claim to be on the payroll of the defunct airline, are women.
'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.'
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
Oil & gas, banking and pharma sector stocks stole the show
The bankmen proved too good for ITI in a National Football League match.
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
Metals, auto and banking shares were in the limelight in this session; the FMCG pack, however, ended lower.
