The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
Ahead of the Budget, the government has achieved almost half the divestment target of Rs 65,000 crore. FY23 divestment receipts are unlikely to be anywhere close to the budgeted target.
As per the Israeli Air Force, the fighter jets attacked a number of terrorist targets of the terrorist organization Hamas throughout the Gaza Strip. Among other things, the planes attacked a military compound and a weapons warehouse.
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Traders say the outlook for the rupee has improved on the back of a sharp narrowing in the current account deficit after government and central bank emergency measures such as curbing gold imports.
So, with the number of free transactions being limited, the account holder needs to prioritise his visits to the bank or ATMs.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
Analysts say there is still no visibility of earnings improvement.
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.
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The central bank was seen selling dollars consistently when the rupee would approach the record low of 68.86 hit on August 28.
Subhash Shankar Parab, a key accused in the Rs 7,000 crore diamantaire Nirav Modi bank fraud case, was "deported" from Cairo on Tuesday after a long diplomatic and legal process, officials said in New Delhi. A CBI team had gone to Egypt's capital to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in a Cairo suburb by Modi, the fugitive diamantaire, they said. The CBI had been chasing Parab, deputy general manager (finance) in Modi's Firestar Diamond and understood to be a key witness to the Letters of Undertaking (LoU) submitted to the Punjab National Bank (PNB) to siphon off over Rs 7,000 crore, they said.
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.
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%
The Cabinet has approved the amalgamation of privately-owned cash-strapped Nedungadi Bank with leading state-run Punjab National Bank, a government spokesman said
Foreign currency assets, a key component rose $1.6 bn to $304.9 bn.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
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.
Private lenders have also been expanding their branch and automate teller machine networks aggressively.
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
The preference for digital banking now cuts across all customer segments.
Kingfisher Airlines has objected to being identified as a 'wilful defaulter' by state-run UCO Bank.
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.
Or is there a need to hike their salaries and bring them at par with private sector pay scales?
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.
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.
Moody's, which cut its FY14 growth estimate to 4.5 per cent recently, said economic growth will be lowest in a decade.
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.
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SBI will hold 30 per cent in RIL joint venture
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Dealers cited some dollar selling by state-run banks in the session, which some said may be on behalf of the central bank.
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.
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.
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 new regulations leave registration capital requirements for wholly foreign-owned banks unchanged
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.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
The central bank has been intervening in the foreign exchange market by buying dollars, and this is capping the rupee's gains.
'India's move has grossly violated China's territorial sovereignty, seriously violated relevant agreements, protocols and important consensus reached between the two countries'
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