The Supreme Court granted bail to the wife of the alleged 'kingpin' of a Rs 3,700-crore scam and directed that no court shall de-freeze the assets attached by the probe agencies in the case till the trial in the FIRs against the accused are concluded.
This will be second such merger of State Bank of India's associate banks.
The MiG-21 episode demonstrates that procurement is always strategic.
Choices about what aircraft to acquire, who builds them, who supplies the spares, who trains the pilots and technicians are decisions with political consequences lasting for decades.
The flight seemed crammed with groups of friends from Delhi and Mumbai. They spoke in the accented English of the privileged, threw abuse about freely, and talked loudly throughout the one-and-a-half-hour flight. While the excited group kept up their chatter, another quieter group went about its business with just as much efficiency, says Kishore Singh.
The All India Bank Employees Association had called for a strike on June 24,
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said.
With the addition of the seven banks - South Indian Bank, Karur Vysya, State Bank of Hyderabad, State Bank of Bikaner, State Bank of Travancore, State Bank of Mysore, and Punjab and Sind Bank - the number of banks allowed to import the precious metals now stands at 30.
A day after large banks such as Punjab National Bank and IDBI Bank increased base rates, state-run lenders Indian Overseas Bank and Indian Bank followed.
Finance secretary Rajiv Kumar was positive in formation of a committee consisting all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
Country's biggest lender State Bank of India had proposed merger of five associate banks.
As per the mega consolidation plan, Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following this merger, PNB will become second largest after the SBI, Canara Bank fourth, Union Bank of India fifth and Indian Bank seventh biggest public sector lender.
Employee integration and branch rationalisation are major challenges.
State Bank of India is also expected to tap the markets this year
Temperatures in 17 locations breached 45 degrees Celsius on Monday, with the punishing heat affecting health and livelihoods.
While a total of 4,987 officers would be recruited for associate banks of SBI, as many as 206 officers would be hired for State Bank of India itself.
We do not expect any major price action at SBI counter as the swap ratio being largely neutral
State Bank of Saurashtra first to merge with SBI
The all India strike would be observed by employees of State Bank of Patiala, State Bank of Travancore, State Bank of Mysore, State Bank of Hyderabad, State Bank of Indore and State Bank of Bikaner and Jaipur.
It's going to be a four-day weekend for the officers of five associate banks of SBI - State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore, State Bank of Patiala and State Bank of Bikaner and Jaipur.
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
The Central Vigilance Commission has penalised 130 government employees for their alleged involvement in corruption. Of these, 29 were Syndicate Bank officials, nine each were from Canara Bank and Punjab National Bank, eight from State Bank of India, seven from Bharat Coking Coal Limited and six each from State Bank of Bikaner and Jaipur and Life insurance Corporation of India Limited.
Rajnish Kumar was on Wednesday appointed the new chairman of the largest public sector bank, State Bank of India (SBI), replacing Arundhati Bhattacharya who completes her one-year extended term on Friday.
One hundred and thirty officials of different government departments were slapped with major penalty by the Central Vigilance Commission for their alleged involvement in corruption.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
'Consolidation was part of the Indradhanush package.'
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
SBI might present the first result for the combined entity at the end of the first quarter of 2017-18
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
All shares held by SBI in the five associate banks will stand cancelled after merger.
The operating income of the bank fell by 5.17 per cent to Rs 25,612 crore during April-June quarter of 2017-18
The Rajasthan high court has issued contempt notices to Reserve Bank of India Governor Y V Reddy and three State Bank of India officials for failing to comply with a court order.
The consolidated entity can target good growth FY18 onwards, analysts say.
The transmogrification of Prime Minister Modi to Saint Modi began with the ground-breaking ceremony of the Ram temple in Ayodhya. By identifying himself with Lord Ram, Modi raised himself in popular imagination to a saintly person.
'While the farmers are reeling under a huge debt burden, crop loss due to locust attacks and erratic rainfall, the state is also facing a COVID-19 challenge.' 'In this situation, you have Congress and BJP MLAs trying to outwit each other in a game of thrones'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances