The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
The quarter also saw exits worth $1.9 billion across 37 deals, 59 per cent higher YoY. This was driven by one of India's largest PE-backed IPO exit, the $1-billion partial exit by Carlyle in the SBI Cards IPO.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
From the 30-share pack, 18 stocks ended with gains led by SBI, which surged 27.58 per cent, and ICICI Bank 14.69 per cent.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Heavyweights such as Coal India, L&T and SBI ran up losses, taking cues from overseas markets.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
EPFO is managing a corpus of Rs 6.5 lakh crore.
Visa and 20 insurance companies in India have joined forces to make paying life and general insurance premiums "faster and easier" through a range of new payment options for Visa cardholders
Sanjay Kumar Singh tells you what to watch out for when buying insurance and investing in MFs online.
Tata Group shares were among the top losers while Adani Ports emerged as the top gainer
WhatsApp on Wednesday said it expects to facilitate the purchase of "affordable sachet-sized" health insurance through its platform by the end of the year as part of its efforts to provide users in India with greater access to financial solutions. The Facebook-owned company noted that its 'Payments' feature is now available to users across the country (currently up to 20 million users) with support from banking partners - State Bank of India, HDFC, ICICI and Axis Bank.
Tata Capital will offer home loans at lower rates to women borrowers, on the lines of similar offerings being made by state-run institutions like SBI and LICHF.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
Retail investors usually get caught up in the frenzy of a bull market and burn their fingers in IPOs, warns Tinesh Bhasin.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
In the June quarter, growth in the segment stood at around 4 per cent, with premium collection at Rs 15,724 crore against Rs 15,074 crore in the same period of FY19. This was the lowest growth in the last five quarters, starting from Q1FY19.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
The first quarter of 2018 saw infrastructure and real estate drive investment worth close to $8 billion across 180 deals
Overall, the MF industry saw nearly Rs 5 trillion, or 18 per cent, of asset erosion in March, with the asset base shrinking to Rs 22.26 trillion from Rs 27.22 trillion at February-end.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
Rediff readers tell us about their first salaries.
Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life
The British pharma and consumer products maker had announced the open offer in November last year to raise its stake in its subsidiary to 75 per cent from 43.16 per cent at present.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'It could tempt investors to pick stocks that are not fundamentally sound.'
If you want his advice on your mutual fund investments, please mail your questions to getahead@rediff.co.in with the subject line, 'Mutual Fund Query', along with your name, and Omkeshwar will offer his unbiased views.
In ITC, LIC has invested Rs 38,358.66 crore, according to Capitaline data.
A rebound in oil prices, FII outflows and concerns over current account deficit weighed on the domestic currency, pushing it to fresh life-time lows.
