Among the Sensex firms, Adani Enterprises and Adani Ports sustained their gaining momentum and traded higher by 4.40 per cent and 4.37 per cent, respectively. BPCL, Axis Bank, Mahindra & Mahindra and SBI were the other major gainers. On the other hand, HCL Tech, Infosys and Bajaj Auto traded in the negative zone with a loss of up to 1.54 per cent.
Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan. However, IT majors HCL Technologies and TCS defied the trend and gained 1.02 per cent and 0.47 per cent, respectively. FMCG firm Hindustan Unilever rose 0.32 per cent.
Sequentially, the loss widened from Rs 2,416.37 crore in the third quarter ended December 2017.
SBI, the country's largest lender, first announced a rate cut of 0.25 per cent in its home loan rates on Thursday, forcing HDFC, the second biggest home loan financier, to respond.
The State Bank of India will have to pump in over $85 million if it wants to maintain majority stake in its subsidiary in Nigeria, Indo-Nigerian Bank Ltd in order to comply with the new diktats announced by the Central Bank of Nigeria.
SBI Cards, the second largest issuer of credit cards, has topped the list of complaints from credit cardholders, with the banking ombudsman receiving 2,654 complaints against it. ICICI Bank, the largest credit card issuer, with 1,451 complaints follows SBI Cards in the list.
UltraTech Cement was the biggest gainer in the Sensex pack, rising 2.43 per cent, followed by NTPC, Tata Motors, Infosys, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Maruti, Wipro and SBI were the major gainers. In contrast, Tata Steel, Bharti Airtel, Bajaj Finserv, Axis Bank, Bajaj Finance and JSW Steel were the major laggards.
State Bank of India is keen to encourage women to take home loans.
Many other companies have expressed intent of diluting stakes.
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
The transmission of the last cash reserve ratio cut has also not happened fully because that came in March.
It is speculated that 5-10 per cent of the PSU cash reserves of up to Rs 1,20,000 crore (Rs 1200 billion), will flow into the three PSU fund houses.
State Bank of India is likely to show a credit growth of about 19 per cent for the current fiscal ending March 2005 on the back of buoyant economy.
Raising the issue during Zero Hour, he said SBI has signed an MoU pledging one of the single largest loans to a corporate house despite five international banks refusing to lend to the Adani project.
This is the fourth cut in term deposit rates by SBI since April and has brought the cumulative reduction to 150 basis points. The new rates will be applicable to fresh deposits and those that come up for renewal. Since December, deposit rates have come down by up to 300 basis points. In contrast, the benchmark prime lending rate has been cut by 150 basis points. SBI will review its lending rate by the end of the month.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
NPAs, cost, fee income, productivity, HR reorientation are focus areas; schedules drawn for addressing all from weeks to a year.
The consortium might get about Rs 1,000.
SBI Capital Markets Limited, the merchant banking arm of SBI, is eyeing the twin accounts of HPCL and BPCL for managing the divestment programmes of the 2 oil cos.
Wall Street-correlated stock markets are facing the risk of correction, as Christopher Wood, the global head of equity strategy at Jefferies, conveys to investors in his latest edition of GREED & fear. Rising crude oil prices, which are nearing $100 a barrel (Brent), pose a threat to the global central bank's battle against inflation and have led to a re-evaluation of its exposure to Indian stocks. "The potential for more US Federal Reserve (Fed) rate hikes, combined with the risk that monetary tightening finally bites as regards the economy, remains a risk for Wall Street-correlated world stock markets. "There is also the oil factor. This is why GREED & fear continues to believe the pain trade is down. "Areas in Asia, such as Indian midcaps, which have already done very well, are at obvious risk of some profit-taking," writes Wood.
Between 2016-17 and 2021-22, the last year for which the data is available, seven national parties and 24 regional parties received a total donation of Rs 9,188.35 crore through electoral bonds.
Citing a weak manufacturing sector coupled with the steep margin compression, SBI Research has pencilled in the country's GDP growth for the second quarter at 5.8 per cent, down 30 basis points from average estimates. The government will release the official numbers on November 30. In a report on Monday, SBI Research headed by Soumya Kanti Ghosh said corporate results, operating profit of companies, excluding banking and financial sector, degrew by 14 per cent in Q2FY23 as against 35 per cent growth in Q2FY22, though the top line continued to grow at a healthier pace.
The downtime will be over around 8 am on December 16.
rediffGURU Ulhas Joshi answers readers' mutual fund queries
State Bank of India is planning a joint venture with a reputed IT company in a bid to bring its technology level at par with the private and foreign banks.
According to the release of ATS, banned ISIS literature, mobile phones, and pen drives were seized from the accused.
The government has raised Rs 5,000 crore from the money market, outside its scheduled borrowing programme for the first half of the current fiscal, to takeover the Reserve Bank's 59.73 per cent stake in State Bank of India (SBI) by the month-end.
The mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
Analysts say domestic banks' dependence on local depositors insulates them from the crisis.
Maximum customer complaints were received against State Bank of India, ICICI Bank and HDFC Bank during 2010-11, said banking ombudsman of New Delhi region.
The Congress on Thursday questioned the decision of State Bank of India to give $1 billion loan to Adani group for the development of Carmichael coal mine during Prime Minister Narendra Modi's just concluded visit to Australia.
