The gross non-performing assets of public sector banks rose to 6.03% at the end of June.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
Days after the Parliament repealed the IDBI Act, Industrial Development Bank of India is believed to have decided to remain a "stand-alone" entity initially and a merger with a big PSU bank may be considered later.
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
The forthcoming public offers of CIL and SAIL can be a roaring success if the debut history of 28 PSUs since 2003 is any indication, as 94 per cent of these public sector companies listed with a premium of at least 10 per cent on the bourses.
There were more than three losers against every gainer on BSE
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
GST rate cut for real-estate, income transfer scheme, farm loan waivers execution and recapitalisation of PSU banks have the potential to boost India's growth in a few months, says Neelkanth Mishra.
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
In the last two months, these stocks have lost nearly a quarter of their market cap.
The Budget came in a period when good news was otherwise scarce.
The market rally was driven by strong buying in telecom, banking, realty, metal, FMCG and PSU counters.
SBI Life Insurance is in the process of seeking permission from foreign regulators to sell its products to Non-Resident Indians through the overseas branches of the State Bank of India.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
Laggards yet, a number of smaller PSBs in the category have balance sheets which do not give much comfort.
Foreign institutional investment flows remain key driver for the Indian markets.\n
The market breadth, indicating the overall health of the market, was positive
Budget this year has allowed PSBs to bring down govt stake to 51%
Observing that a look out circular (LOC) restricts a person's free movement and the right to travel, the Calcutta high court has said it should be issued only in exceptional circumstances.
Telecom, metal and healthcare came as dampeners.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
United Bank's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion)
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The global brokerage firm in March had trimmed the growth forecast to 6 per cent and in June again it revised the growth estimate to 5.8 per cent.
Recent rates cuts by most banks may not have a significant impact on margins, say analysts.
Dwaipayan Bose on how index funds play a key role in the diversification of portfolios and help manage risks
If a name does not unify the three, there could be continued clash of identities, which could splinter the brand even before it takes shape, say Abhijit Lele and Nikhat Hetavkar.
Urging India Inc to participate in the growth story, Sitharaman said they should participate in the divestment programme by becoming the first bidders.
He cautioned however that these are the early signs and one should not start celebrating.
As per the mega consolidation plan, Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following this merger, PNB will become second largest after the SBI, Canara Bank fourth, Union Bank of India fifth and Indian Bank seventh biggest public sector lender.
Banks cannot shirk their responsibility in cases of frauds.
More than five lakh aspirants will take the exam on January 7 and 8, 2017.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
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