The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
There would be no retrenchment of employees and that their services conditions would also not be affected post merger.
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
CII said working capital limit enhancement should be accompanied by relaxing norms related to collaterals.
Benchmark indices Sensex and Nifty retreated from over one-week highs to close lower on Wednesday due to profit booking in banking, IT and metal stocks amid weak global trends. After a two-day rally, the 30-share BSE Sensex dropped by 90.99 points or 0.16 per cent to settle at 57,806.49 in volatile trade. As many as 19 of its constituents declined while 11 advanced. The broader Nifty slipped by 19.65 points or 0.11 per cent to close at 17,213.60 with 31 of its stocks ending in the red.
Henry Kravis, co-founder of global private equity firm Kohlberg Kravis Roberts & Co, thinks India should go for a bad bank to deal with bad assets in banks. In an interaction with journalists in Delhi, he says there are plenty of opportunities in India. He was joined by India CEO Sanjay Nayar.
Motilal Oswal of Motilal Oswal Financial Services tells Puneet Wadhwa why he thinks the current market levels will sustain.
As many as 10 public sector banks could be out of the infusion plan because of Sebi's minimum public shareholding norms.
Financial planners advise against putting capital to work by anticipating what might go up or down.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
MMFs are a good option for the current environment, observes Sarbajeet K Sen.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
'Earnings will be the catalyst for markets to march higher from here on out.'
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
The ripples from November 8 may be seen in next year's state budgets.
'The government must find worthwhile private owners for some of the banks, increase the share of private sector banking in the system, and then ask the remaining government banks to face the discipline of the market and compete, or shrink into irrelevance,' says T N Ninan.
Government-owned Life Insurance Corporation of India (LIC) has seen substantial gains from its investments in Adani group shares, which have experienced a significant recovery over the past year. The value of LIC's stake in Adani group companies surged by 51.6 per cent, or Rs 22,591 crore, reaching Rs 66,388 crore as of Friday's close. This compares to Rs 43,797 crore on May 31 last year, according to stock exchange data.
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.
In the past two months alone, four companies have garnered a cumulative Rs 22,400 crore via this route.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
Some lenders in talks with LIC for pvt placement
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
In a major step, SBI Capital Markets, India's leading investment banker, has decided to enter commodity broking and expand aggressively its online equity trading to take on competition from ICICI in the sector.
Through the past 12 months, the Bank Nifty has risen 55%
It is up to the bank management to decide which application gets to interact with the CBS
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
The Securities and Exchange Board of India (Sebi) is in the process of issuing a standard operating procedure (SOP) for designated depository participants (DDPs) regarding disclosures and onboarding of foreign portfolio investors (FPIs), according to a regulatory document seen by Business Standard. DDPs act as a link between the markets regulator and overseas investors. The SOP, framed in consultation with the industry, aims to bring consistency across all players and avoid any form of regulatory arbitrage.
A lack of adequate disclosures raises the financing costs of corporate firms, especially sub-investment grade ones, and keeps the capital markets small, believes RBI deputy governor Viral Acharya.
Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in the event of any failure.
Investors' wealth eroded by over Rs 4.90 lakh crore on Friday amid a sharp fall in equities. The 30-share BSE Sensex tanked 1,020.80 points or 1.73 per cent to settle at 58,098.92. During the day, it tumbled 1,137.77 points or 1.92 per cent to 57,981.95. The market capitalisation of the BSE-listed firms plummeted by Rs 4,90,162.55 crore to Rs 2,76,64,566.79 crore on Friday.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
Despite the national capital recording its best air quality on Diwali day in eight years, pollution levels may rise due to low night temperatures and sporadic burning of firecrackers though there is a ban on their manufacture, storage, sale and use within the city.
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
Eleven companies have launched their initial public offerings (IPOs) in December 2023, making this month the second-best December for public offerings since 1996. Collectively, they are raising Rs 8,182.7 crore this month. In December 2021, 11 companies raised Rs 9,534 crore. However, excluding December 2021, this month marks the best December for IPOs since 1996.
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances