The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Forex dealers said besides selling of the American currency by exporters and banks, gains in other Asian currencies against the dollar and a higher opening in the domestic stock market also supported the rupee.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
Whether the rupee can regain that momentum will largely depend on foreign investors, who have been net buyers of more than $2 billion in shares over the previous 20 sessions and of $2.3 billion in bonds in March.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
In New York, the dollar edged down against the yen for the first time in three sessions as investors weighed economic data and remarks from outgoing Federal Reserve Chairman Ben Bernanke.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
As many as 142 stocks from the S&P BSE500 index are currently trading below their level of May 12, 2014
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
This is the first tranche of capital infusion for the fiscal and more funds would be provided in future depending upon the performance of PSU banks.
I-T will now ask the company to produce documents and validate the source of the recovered cash.
According to sources, Kingfisher Airlines allegedly diverted funds by opening a current account in HDFC Bank and had a balance of Rs 7.5 crore (Rs 75 million) as on date.
In areas bordering Bangladesh, some have received strikingly high deposits in Jan Dhan accounts, said sources.
The consortium led by SBI has also initiated the process of recovery.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
The rupee had surged 37 paise to end at a nine-month high of 59.68 against the dollar on Tuesday. Forex market remained closed on Wednesday for 'Buddha Purnima'.
Vijay Mallya left India on March 2, presumably for London.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
The mergers will not involve any cash but only share swaps
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Analysts, however, said the timing of the infusion was good.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
If struggling with dealing with queues of people asking for new notes wasn't enough, banks are now facing the challenge of storing the old notes in their strong rooms.
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
The rupee had revisited the near 2-month low of 60.55 per dollar earlier in the session.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
Adopting a wait- and-watch approach ahead of US Fed meeting
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
The high court remained unconvinced by Mallya's claim that he has been a non-resident Indian since 1988 and has lived in England since 1992, a country where he has indefinite leave to remain
Or Iran may face the risk of losing its biggest client
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