'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
He escaped the country in the first week and took the oath of allegiance in Antigua on January 15
The move by the second largest private sector lender will give better returns on fixed deposits, but will also make loans more expensive for existing customers.
Amardeep Singh, 22, a resident of Brampton, Surrey, and Abbotsford areas of Canada, has been charged with first-degree murder and conspiracy to commit murder.
Army XI made a stunning comeback in the second-half, pumping in four goals, to hold Air India 4-4 and keep their semi-final hopes alive in the 117th Beighton Cup hockey tournament in Kolkata on Wednesday.
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
The agency has so far seized diamonds, gold jewellery and other precious stones worth Rs 5,716 crore in the case and summoned Modi and Choksi, the promoter of Gitanjali Gems, to appear before it on February 23 at its Mubai zonal office.
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 total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
CEA offers three compelling arguments in his case for privatisation of government-owned banks.
Several PSU lenders, including Canara Bank, Bank of India and Bank of Baroda, Syndicate Bank, have already slashed their benchmark prime lending rates by 0.75 per cent after Finance Minister P Chidambaram met state-owned banks' heads to discuss the possibility of rate cuts.
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
The RBI has been critical of banks for using restructuring schemes to hide the stress.
The RBI on Friday imposed a fine of Rs 6.5 crore (Rs 65 million) on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
Punjab National Bank has the largest share.
2014 sees slowest start to festival season in at least 7 years
In his first interaction with the media after taking charge, former PNB chairman and managing director K C Chakrabarty said, "When the government is giving a certain interest rate on small savings, it is not logically correct for banks to provide a lower rate of interest. When we are saying that interest rates are coming down, that means the small savings rate should also come down."
It's time to re-examine government's role as owner of banks,
State Bank of India has agreed to lend Vodafone-Essar, the joint venture between United Kingdom's Vodafone and Essar, Rs 10,000 crore to finance the company's entry into 3G (third generation) telecom services and expansion of its broadband operations.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
The country's largest lender SBI will levy charges for cash withdrawal beyond four free transactions in a month from customers holding the basic savings bank deposit (BSBD) accounts. These customers will also be levied charges for cheque book beyond 10 leaves in a year. As per the revision in service charges for BSBD accounts, State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the "additional value added services" with effect from July 1, 2021.
The recent hike in the rates will hurt your finances further. Time to do some stock-taking.
The 49-year-old jeweller, who has been lodged at Wandsworth Prison in south-west London since his arrest in March last year, appeared via videolink for the remand hearing at Westminster Magistrates' Court in London.
Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
Dominica high court on Thursday adjourned the hearing on a habeas corpus petition filed on behalf of diamond trader Mehul Choksi, local media reported. Judge Bernie Stephenson will decide the next date of hearing after meeting both sides, Antigua News Room said. The adjournment is to allow lawyers for Choksi and the Dominica government "to agree on the language to be used with respect to the injunction filed to prevent his removal from Dominica", the media outlet reported.
The response was tepid in other parts of the country even as several INDIA bloc parties as well as other non-BJP outfits extended their support to the bandh.
Subhash Shankar Parab, a key accused in the Rs 7,000 crore diamantaire Nirav Modi bank fraud case, was "deported" from Cairo on Tuesday after a long diplomatic and legal process, officials said in New Delhi. A CBI team had gone to Egypt's capital to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in a Cairo suburb by Modi, the fugitive diamantaire, they said. The CBI had been chasing Parab, deputy general manager (finance) in Modi's Firestar Diamond and understood to be a key witness to the Letters of Undertaking (LoU) submitted to the Punjab National Bank (PNB) to siphon off over Rs 7,000 crore, they said.
Bankers say loan demand was more muted this festival season than last year.
The country's largest lender, SBI, has reduced marginal cost of funds based lending rate by 0.9 per cent from 8.90 per cent to 8 per cent for one-year tenure, the bank said in a statement.
According to the general secretary of the All India PNB Officers' Association, K D Khera: "The bank has a staff strength of about 57,000 in all cadres.
Bankers expect credit to pick up after Jan 15.
Eight persons, including five Special Auxiliary Police personnel and an assistant sub-inspector, were killed and three others seriously injured in a heavy exchange of fire between the police and banned Maoist activists at Raniganj in Bihar's Gaya district on Thursday.
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines. According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure among the favourite picks by the equity funds in the month of May.
The public offer of eight crore shares by Punjab National Bank, which closed on Friday, has attracted bids for 104.37 crore shares - a subscription of 13 times.
The Government of Dominica has told a court there to reject the habeas corpus petition filed on behalf of businessman Mehul Choksi who had claimed that he was abducted and forcefully brought to the Caribbean island nation, local media reported. The high court of Dominica ordered that the businessman be produced in a magistrate court to answer charges of his illegal entry into the country and adjourned the hearing on the habeas corpus petition till Thursday, according to local media. Rejecting the submission of Choksi who is wanted in India in an alleged Rs 13,500 crore loan fraud case in Punjab National Bank, the prosecution said the habeas corpus petition does not stand as he had illegally entered the country and was subsequently detained.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
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