An increase of 10% in net profit is expected as higher provisioning would negate most of the gain on account of expansion of loan portfolios.
Reserve Bank Governor D Subbarao on Tuesday favoured bifurcation of the posts of chairman and managing director in state-run banks, saying the experience of such a split in the private sector has been satisfactory.
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Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
Bharat Sanchar Nigam Ltd Employees Union on Friday extended support to the proposed indefinite strike of employees of public sector oil companies against privatisation of HPCL and BPCL.
Attorney-General Soli Sorabjee's response on the privatisation of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd is likely to be known later this week.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The government is selling its entire 100 per cent stake in Air India but wants effective control to stay with Indian nationals.
The broader Nifty declined by 73.90 points, or 0.71 per cent, to end at 10,378.40.
Equity mutual funds witnessed an outflow of Rs 9,253 crore in January, making it the seventh consecutive monthly withdrawal, primarily due to profit booking and portfolio rebalancing amid markets touching new highs. The pace of outflows from equities has however slowed for the third month and Gautam Kalia, head - Investment Solutions, Sharekhan by BNP Paribas said that it will likely turn positive soon as investors get used to the new normal. In addition, investors pulled out Rs 33,409 crore from debt mutual funds last month after investing Rs 13,863 crore in December, data from the Association of Mutual Funds in India showed on Tuesday.
Finance Ministry officials are engaging in hectic parleys with the PSUs to speed up the process so that the disinvestments can take place in the December and March quarters.
The International Cricket Council came in for sharp criticism for its bizarre rules on playing conditions
Public sector oil companies' officers are planning an indefinite strike from September 5 to press for a salary hike.
Many PSU banks had recently cut interest rate on loans for two-wheelers and consumer durables.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
Pawan Verma contended that PSU banks are influenced to give loans to the people who are not able to repay them.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Talks between the government and striking oil Public Sector Undertakings failed late Thursday night over the officers' insistence on getting an immediate hike in their wages as the agitation threatened a major disruption in supply of petrol across the country. Deora is likely to meet Prime Minister Manmohan Singh on Friday afternoon on the issue after the meeting of the Union cabinet in the morning.
RBI feels that oil firms seeking a single quote for their dollar requirement, instead of present practice of floating enquiring with several pubilc and private sector banks, would help check volatility and arrest the free-fall of the rupee.
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.
The department for promotion of industry and internal trade has asked the telecom department and State-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies. The tender was floated by BSNL in March under the new management for setting up the 4G network.
Reliance Industries Ltd will give Rs 750 crore (Rs 7.5 billion) discount on LPG and kerosene to public sector petro retailers in 2005-06.
Mental health and life coach Anu Krishna tells you how to take control of your life.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Roopam Asthana, CEO and whole time director, Liberty General Insurance, answers readers health insurance queries.
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
The minister further said state discoms should not give orders for supply of equipment to Chinese firms.
Top gainers in the Sensex pack included Tata Steel, Kotak Bank, NTPC, HDFC twins, PowerGrid and ONGC, rising up to 4.60 per cent.
The S&P BSE Sensex ended down 362 points at 23,191.
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The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
The government may infuse about Rs 10,000 crore (Rs 100 billion) as equity capital in nationalised banks in addition to an identical amount in the country's largest lender, State Bank of India (SBI). Nationalised banks with the government holding closer to the floor of 51 per cent are likely to receive the capital infusion support.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.
State-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum are likely to lose Rs 45,478 crore (Rs 454.78 billion) this fiscal on selling fuel below cost, Petroleum Minister Murli Deora said.
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