DLF, Indiabulls Real Estate, HDIL, YES Bank, Union Bank of India and Maruti Suzuki are down 4-12% on NSE.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Mallya has denied that he had fled India and said he would comply with laws.
Punjab National Bank has posted a 28.2 per cent rise in net profit at Rs 322.67 crore for the quarter ended June 30, 2004 as compared to Rs 251.76 crore in the quarter ended June 30, 2003.
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
Punjab National Bank on Saturday increased the interest rate on Foreign Currency Non-Resident (B) Deposit Scheme for dollar, British pound, euro and Canadian and Australian dollar with effect from June 1.
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
Many from this small lender have made it to other bank boards over the past 5 years
The assets have been attached as part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act, it said.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
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With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
Choksi is wanted in India by the CBI and the Enforcement Directorate, which are probing the PNB fraud, the biggest banking scam in the country. India continues to pursue Choksi's return with the government of Antigua through diplomatic and legal channels.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
It's mid-morning and the two-kilometre stretch from Rashbehari Avenue to Gariahat Market is bustling with activity. Dotted with saree shops and hawker stalls that sell everything, from hairpins, hangers and towels to hosiery, mobile phone covers and kurtas, this is one of South Kolkata's busiest shopping areas. And it is beginning to wake up to the Paytm crisis.
Punjab National Bank on Monday reduced the interest rates on housing loans. Under the floating option, 8% interest will be charged on loans repayable in 5 years, 8.75% for 5-10 years, 9.25% for 10-20 years and 9.75% for 20-25 years.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
Punjab National Bank joined hands with the Infrastructure Leasing and Financial Services for setting up a private equity fund for investing in domestic companies mainly in telecom, oil and gas, ports, water supply and surface transport segments.
He is believed to have been living in the UK on an Investor Visa, applied for in 2015
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
India borrows ideas that we don't need, like the FRDI Bill, and ignores the ones we need, like rewarding whistleblowers such as the ones who want to save Bombay Mercantile Bank, says Debashis Basu.
If the policy is extended to NBFCs and co-operative banks, they will have to disclose divergence in asset classification and provisioning during RBI inspections in their audited financial reports. Till now, these entities have been exempted from this. At present, there are more than 98,000 co-operative banks and 10,000 NBFCs. Sources said the RBI would concentrate on the top 50 co-operative banks and NBFCs.
The chargesheet, filed in a special court in Mumbai, also names several other top officials of the bank.
Based on repeated appeals from Choksi, who is wanted in the Rs 13,000 crore bank fraud in Punjab National Bank and is holed in Antigua and Barbuda after fleeing from India in 2018, the CCF removed his name from the Red Notice list in November 2022, the CBI said in a statement.
The Sydney Flight Training Centre invites aspiring pilots for a free seminar on pilot training for its Diploma of Aviation (Professional Pilot) programme.
The two diamond traders, who are said to have left the country before criminal cases were registered, had failed to appear before the ED, promoting the agency to move the PMLA court for issuance of NBWs against them.
A look at the performance of the eight IPOs since January 2005, which got listed reveals that the IPO dream may have turned sour for some investors.
The second public offering of Punjab National Bank was oversubscribed by two times within minutes of its opening on Monday.
Ten trade unions to go on strike to protest against changes in labour laws
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