The Maharashtra Food and Drug Administration (FDA) has suspended the licences of six hotels, restaurants, and other food establishments in Mumbai due to food safety and hygiene violations, including improper storage and the use of analogue paneer. This action is part of an ongoing inspection drive.
The Indian government is accelerating its sale of minority stakes in state-owned companies, including a significant offer for sale (OFS) in Life Insurance Corporation of India (LIC) expected "very soon," to meet its 80,000 crore mobilisation target and reduce its holdings to 75 per cent in most listed PSUs by year-end.
'Banking is the only sector that can see double-digit growth in FY27.'
Although the front seat in my car will miss his presence, the echoes he left behind will remain for long. K R Nayar mourns legendary cricket writer Qamar Ahmed.
Public sector banks in India are increasing their IT spending to bolster cybersecurity measures in response to concerns about Anthropic's Claude Mythos AI tool and its potential to exploit vulnerabilities in financial systems.
A bank manager in Ghaziabad was shot dead by a security guard following disputes over salary and leave, leading to the arrest of the guard and an accomplice.
Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth.
A national rollout will take place after the pilot test in which SBI, PNB, Axis Bank, Bank of Maharashtra, Canara Bank, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, HDFC Bank, Indian Overseas Bank and Punjab & Sind Bank are participating.
State Bank of India-led public sector banks posted a record cumulative profit of Rs 49,456 crore in the second quarter of the current fiscal, reflecting a 9 per cent year-on-year growth despite two lenders reporting a decline. All 12 public sector banks (PSBs) together made a profit of Rs 45,547 crore in the September quarter of FY25.
Asim Munir will have to find a well trusted aide to fill the crucial ISI post's when Asim Malik retires soon.
Bad loans in the agriculture sector remain elevated, with several public-sector banks (PSBs) reporting higher slippages in the April-June quarter of FY26. For many banks, non-performing assets (NPAs) in farm lending were 5 per cent or more, with some nearing double digits.'
Mohinder Amarnath will always be remembered as a giant-hearted cricketer who stood tall against the fiercest attacks, carried the bruises with pride, and turned every setback into a comeback.
State-owned Punjab & Sind Bank is targeting salary accounts to boost the share of low-cost deposits. Swarup Saha, managing director and chief executive officer of the New Delhi-based lender, tells Manojit Saha that the bank may see gross non-performing assets (NPAs) fall below 8 per cent if there is resolution of the stressed assets.
After the merger of regional rural banks (RRBs) under the "One State, One RRB" policy to improve their efficiency and minimise competition among public-sector banks (PSBs) that sponsor them, the government is planning to list at least five RRBs by the end of financial year 2026-27 (FY27). After the latest amalgamation that came into effect on May 1, there are 28 RRBs in 26 states and two Union Territories (UTs), with more than 22,000 branches covering 700 districts.
These transfers can be seen as part of a continuing process on General Asim Munir's part to keep his senior generals happy, notes Rana Banerji, who headed the Pakistan desk at RA&W.
The former beat South Central Railway while the bankmen accounted for Pakistan International Airlines.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
The bankmen came back from a goal down to beat Indian Oil 2-1 in the ONGC-Nehru hockey tournament.
They beat Indian Oil 4-1 in the final of the uru Tegh Bahadur hockey tournament.
'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
Northern Railway won the women's crown in the Surjit hockey tournament.
Public-sector lenders Indian Overseas Bank (IOB) and Uco Bank are likely to raise funds through qualified institutional placement (QIP) next month. Punjab & Sind Bank is likely to follow suit later this financial year to meet the public shareholding norm of 25 per cent. When a public-sector unit raises funds through QIP, the money goes to the company because it involves issuing new shares whereas in the case of offer for sale (OFS), the money raised goes to the government because its shares are sold.
A 3-1 victory over Delhi in the final gave the defending champions the title. Indian Oil finished third.
Finance ministry backs chairman, may remove five govt-nominated independent directors
The Bankmen, reduced to ten men, beat Namdhari XI 2-0 in the quarter-finals of the Bombay Gold Cup hockey tournament.\n\n
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
In his speech, General Munir highlighted the role of the army in defending the motherland with the support of the people of Pakistan and also touched upon various conflicts with India, including the Kargil War.
The Delhi-headquartered bank had favoured private placement over an initial public offer due to the stock market's volatility, a source familiar with the development said. "An initial public offer now is out of question," the source said. The private placement of shares is likely to be with public sector companies Life Insurance Corporation, UTI and Small Industries Development Bank of India but private sector participation is not completely ruled out.
FIR has also been registered against a polling personnel Dinesh Gurav, who was an Encore (poll portal) operator with the Election Commission.
Whenever tenures of army chiefs were extended in the recent past, prime ministers were subsequently eased out of office by the same army chief, notes Rana Banerji, who headed the Pakistan desk at RA&W.
Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
Operations of public sector banks (PSBs) may be impacted as bank union AIBEA has given a strike call for Saturday to oppose incessant outsourcing of jobs. Although the officers are not part of the strike, there may be some impact on cash deposit and withdrawal, clearing of cheques etc. Several banks, including Bank of Baroda and Punjab & Sind Bank, have already informed their customers about the potential impact on services if November 19 strike materalises.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
Mumbai's Church of St John the Evangelist or Afghan Church looks today as good as it did 158 years ago.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
