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.
The new guidelines restrict bankers not just from advising private sector companies in the 'same line of business' on public issues.
Cyber crime wing has been receiving 4-5 complaints every day involving impersonation
On the heels of the Reserve Bank of India making out a case for better pay packages for PSU bankers, global consultancy KPMG said that not only senior personnel, but non -executive directors, too, should be paid salaries on par with their private sector counterparts.
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.
Ironically, bad loans and non-performing assets are on the rise in public sector banks in India, say sector watchers.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
Losers included Bharti Airtel, SBI, Wipro, Vedanta, Maruti Suzuki, ICICI Bank, Axis Bank and Reliance Industries, falling up to 2.18 per cent.
As per the budget document presented in Parliament, public sector enterprises, including banks, are expected to contribute Rs 88,188 crore in the form of dividend and profit to the government in the current financial year.
In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
Moody's listed six agenda on the list of pending reforms -- land acquisition Bill, labour law reforms, significant infrastructure investment, tangible benefit from Make in India initiative, tax administration and PSU bank reforms
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
Last week, govt sold shares worth Rs 220 crore in the open market without making a formal announcement. The deal came to light only this week.
In the first two years, we spent Rs 15,000 crore, which was more than our target, says S K Chaturvedi, CMD, Power Grid Corp.
A 5-1 victory gave the Goa side their biggest win in the National Football League.
Valuation-wise, the markets look more attractive now
Dudu Omagbemi scored a hat-trick as the former champions won the National Football League match 4-2.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
The petition has also made the Ministry of Finance and the bank as parties in the case.
Risk sentiment received a boost after eight core sectors grew to a five-month high of 4.9 per cent in August
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
'Banks will continue to increase FD rates to attract more deposits and meet the increasing demand for credit.'
Fiscal pressure for the Indian economy is gradually rising, suggested analysts at Jefferies in a recent note, as oil prices (Brent) - which are close to the $100 a barrel mark - continue to climb ahead of a busy election calendar. They added that the sharp rally in the equity markets during the last few months has made valuations costly. As a result, Jefferies expects the Indian markets to remain choppy in the near term.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Banking PSU stocks made a brave comeback on Monday after succumbing to losses Friday following the Union Budget's ignoring a long-standing demand by the sector on FDI limits.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
In an hour-long chat on rediff.com on Thursday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
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.
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
Banks are clear that lending rates are not going to fall further, say Hamsini Karthik and Anup Roy.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
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.
Smaller stocks have emerged as Dalal Street's favourites in 2023 that has turned out to be a "great year" for equities, rewarding investors with big gains, driven by optimism over the country's macroeconomic fundamentals and heavy retail investors participation. Experts said equity markets are experiencing a prolonged bull run and it is during this time that the midcap and smallcap segments tend to outshine their larger counterparts. Till December 22 this year, the BSE smallcap gauge has jumped 13,074.96 points or 45.20 per cent while the midcap index has surged 10,568.18 points or 41.74 per cent.
