Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks.
For the first time in our economic history a government has thought about more than 50 per cent of our economic activity instead of the five per cent represented by the Sensex companies, observes IIM-B professor R Vaidyanathan.
Bandhan Bank is the first bank to be launched in eastern India post Independence.
Sisodia said he will fully cooperate with the CBI that has summoned him for questioning in the excise policy case.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
Officials said it had informed the RBI about these alleged malpractices earlier and is regularly updating it about such modus operandi being deployed
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
However, the department has not changed ITRs significantly, considering Covid-19 crisis.
There are still bumps in the road ahead for Swiss banks.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
If tweets can do so much, why do we need an independent regulator and multiple committees discuss and recommend policy?
RBI has invited case studies from participant banks by January 31.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
The new agri-infra fund, the duration of which will be 10 years till 2029, aims to provide medium-to-long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
Kerala Chief Minister Pinarayi Vijayan, along with his ministers, sat on a dharna in front of the Reserve Bank of India office in Thiruvananthapuram protesting against the Centre's move to "destroy" the cooperative sector in the state under the cover of demonetisation process and also took pot shots at Prime Minister Narendra Modi.
Those behind recapitalisation are neither aware nor do they care. After all, they have no skin in this game. And the Lok Sabha elections are round the corner. That's what they care about, points out Debashis Basu.
A total of 22,27,506 farmers have obtained loan of about Rs 10,736 crore from cooperative banks in the state.
The deadline for officers to decide on their career path in the biggest organisational rejig in the central bank's 85-year history ends on January 31. The immediate fallout could be its disruptive impact on the supervisory process for 2020 -- and beyond -- given the manpower shortfall, even as more entities are set to come under closer central bank scrutiny.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
A 10-hour RBI central board meeting, on November 19, decides to set up a panel on the economic capital framework for the central bank and directs it to give forbearances to small businesses.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
On reforms in pipeline, she said the government is for universal right to minimum wages and wants to remove regional disparity through a national floor wage.
We need a change in mindset, says the RBI Governor.
In a recent lecture, RBI governor Raghuram Rajan dished out some frank advice -- don't get into 'jugaad', instead try for the long haul. Only that will sustain in the long-run.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
'Most of the measures the finance minister announced will take effect after the lockdown.' 'By that time, millions of people will be starving.'
The G-20 leaders under the chairmanship of Saudi Arabia's King Salman held an extraordinary video conference in which they resolved to use all available policy tools to minimise the economic and social damage from the pandemic that has killed over 21,000 people and infected more than 470,000 globally.
In this year's budget, Finance Minister Nirmala Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
