.jpg)
The central bank was seen selling dollars consistently when the rupee would approach the record low of 68.86 hit on August 28.
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.
The State Bank of India said on Monday it would launch a gold exchange traded fund in 2008. "We are examining this product in our mutual fund company and we are hopeful we should be able to come out with an ETF next year," O P Bhatt, SBI chairman said at a conference in Mumbai.
Analysts say there is still no visibility of earnings improvement.
Some state-run banks made 10,000-13,000 per cent gains on their holdings in the Multi Commodity Exchange (MCX) after the latter commodity bourse made an impressive listing on Friday.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
It was trading around Rs 30,638 per 10 grams, the lowest since August 30.
Budget this year has allowed PSBs to bring down govt stake to 51%
Foreign currency assets, a key component rose $1.6 bn to $304.9 bn.
The Cabinet has approved the amalgamation of privately-owned cash-strapped Nedungadi Bank with leading state-run Punjab National Bank, a government spokesman said
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
A day after applying for a bank licence, Aditya Birla Group chairman Kumar Mangalam Birla on Wednesday said the new bank licence norms announced by the Reserve Bank are not discriminatory towards large corporate houses.
Under the recapitalisation package Central Bank of India will get Rs 1,400 crore (Rs 14 billion), while UCO Bank and Vijaya Bank will get Rs 1,200 crore (Rs 12 billion) each, home minister P Chidambaram told reporters after the Cabinet meeting in New Delhi. Under the recapitalisation package Central Bank of India will get Rs 1,400 crore (Rs 14 billion), while UCO Bank and Vijaya Bank will get Rs 1,200 crore (Rs 12 billion) each.
Bankers back the new bankruptcy code, which would impose debt deadlines on failed firms and foresees up to five years in jail for debtors who conceal property or defraud creditors
Private lenders have also been expanding their branch and automate teller machine networks aggressively.
The intervention was spotted when the rupee hit 59.90 to the dollar or below
The dollar's weakness against rivals overseas supported the rupee.
Qin's first in-person meeting with Jaishankar on Thursday came on the sidelines of the G20 foreign ministers conclave in New Delhi amid the over 34-month-long border row in eastern Ladakh.
Kingfisher Airlines has objected to being identified as a 'wilful defaulter' by state-run UCO Bank.
Or is there a need to hike their salaries and bring them at par with private sector pay scales?
The preference for digital banking now cuts across all customer segments.
As news of explosions came in, the rupee initially plunged by over ten paise to Rs 45.97/99 from opening levels of Rs 45.8450/8600
Lending rates have to be sensitive to the policy rate, says RBI.
A railway official said a train has been booked for the Dussehra rally from Nanded city in central Maharashtra.
State-run Union Bank of India on Tuesday said it is hiring 5,000 employees this fiscal, including 300 specialised officers for its micro, small and medium business.
'India's move has grossly violated China's territorial sovereignty, seriously violated relevant agreements, protocols and important consensus reached between the two countries'
.jpg)
Dealers cited some dollar selling by state-run banks in the session, which some said may be on behalf of the central bank.
The rupee ended at a 17-month closing high on Monday, helped by strong corporate inflows, but the Reserve Bank of India's steady dollar purchases checked its gains, dealers said.
Moody's, which cut its FY14 growth estimate to 4.5 per cent recently, said economic growth will be lowest in a decade.
.jpg)
SBI will hold 30 per cent in RIL joint venture
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
The new regulations leave registration capital requirements for wholly foreign-owned banks unchanged
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
While the first three parts of the operation, codenamed 'Red Spider', dealt with Indian banks (both private and state-run), the fourth part targeted a couple of foreign banks.
The central bank has been intervening in the foreign exchange market by buying dollars, and this is capping the rupee's gains.
At a time when retrenchment has almost become synonymous with financial companies, state-run Union Bank of India is looking to hire 5,000 people at different levels to support its branch expansion plans.
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
State Bank of India, the country's largest bank, said on Thursday its March quarter net profit rose 20 per cent year-on-year on a surge in retail lending in a buoyant economy, but its shares fell as the numbers were below expectations.
In eight cases, the banks would violate the minimum public shareholding norms if their promoter, the Government of India, infused capital as announced.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances