Maruti is not an online outlier, of course; other heavyweights have rolled out similar services. But as an analyst pointed out, Maruti's all-India roll-out has significant impact given that it accounts for over half of all cars sold, reports, reports Pavan Lall.
Low cost of funds and low credit growth have meant unprecedented levels of capital adequacy ratios (CARs) for banks.
Some major private sector banks, such as Deutsche Bank, Yes Bank, Kotak Mahindra Bank, Standard Chartered Bank, and financial institution Industrial Finance Corporation of India (IFCI) are in the race to buy the Rs 500-crore standard loan assets and investments of the Industrial Investment Bank of India (IIBI).
Sector-wise, banking, IT, pharma and realty indices drove the market momentum.
The bank's board has already established a search and selection committee comprising three members from the existing nomination and remuneration committee along with two external experts to identify Kapoor's successor.
Bank Nifty has recovered nearly 300 points at 10,968 from intra-day low of 10,669 touched in early morning deals.
Global reinsurer Swiss Reinsurance Company on Friday completed the acquisition a 3.57 per cent stake in India's newest bank
Sustained foreign funds outflows and the rupee depreciating 68 paise to hit a three-month low of 64.88 (intra-day) against the dollar affected investor sentiment
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
Defending the timing of Yes Bank's moratorium, Reserve Bank of India governor Shaktikanta Das on Friday assured swift resolution to the issues concerning the beleaguered lender. "The resolution (to Yes Bank) will be done very swiftly, it will be done very fast. 30 days which we have given is the outer limit. You will see a very swift action from RBI," Das told reportters in Mumbai.
Recovery in bluechips and gains in European markets helped the rally.
Market sentiment suffered a jolt after other Asian markets closed with widespread losses and European markets dropped in early trade
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Asset financing firms are still witnessing subdued demand and meaningful recovery is likely only in FY16, the report said.
RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
First case filed after new norms come into force, NCLT admits plea.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
The BSE Sensex gained 104.63 points to end at 33,147.13, while the broader Nifty spurted 48.45 points to finish at 10,343.80.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
Time opportune, with market buoyancy and entry of new entities
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
Nearly 150 companies visited the campus this year.
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.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
Madhu Kapur is fighting the case against the bank as it refused to accept her daughter as a nominee director.
Reliance ADAG, Tech Mahindra among top recruiters at IIM-A
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
In the wake of Lodha Committee report, the Board of Control for Cricket in India's top brass on Wednesday said the Board is still 'confused' over the kind of payments that can be made from the two bank accounts which had come under the scanner of the Supreme Court-appointed panel.
About 70 per cent of ATMs in India are running on outdated operating systems, which makes it easier for fraudsters to crack them
India has a long way to go before it develops a culture of professional boards accountable to institutional investors. There is, therefore, no realistic alternative to reforming and strengthening PSBs under government ownership, says T T Ram Mohan.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
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