Officials confirmed that all detained individuals were in India without valid documentation and had used fake papers to establish residence.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
More than half a dozen private-sector banks are awaiting regulatory approval for the appointment of a second whole-time director on their boards.
Commemorating 75 years of India's independence, SBI has launched a 75-day Utsav Deposit Scheme, offering 6.10 per cent for fixed deposits. Senior citizens will get an additional 0.50 per cent and the offer is on until October 30, SBI said.
In a move to strengthen governance in private sector banks and wholly-owned subsidiaries of foreign banks, the Reserve Bank of India (RBI) on Wednesday directed them to have at least two wholetime directors. Lenders that do not meet the requirement will have to submit the names for the RBI's approval within four months. Banks need prior approval from the banking regulator for the appointment of wholetime directors.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
Banks such as IndusInd Bank, Federal Bank, DCB Bank and Axis Bank which have renewed their focus on secured loans may be, hence, walking on a tightrope.
The drop in net interest margin will separate the men from the boys, explains Tamal Bandyopadhyay.
A local court on Tuesday night remanded the Patel quota agitation leader Hardik Patel in police custody till October 23 in connection with the sedition case against him for allegedly instigating a Patel youth to kill policemen.
Of the total scrips traded, 1,998 advanced, 631 declined and 184 remained unchanged.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
With the rise in interest rates, bond yields have been on the rise; this will dent banks' treasury profits. Also, many retail borrowers may find it difficult to service their loans when the loan rates rise, points out Tamal Bandyopadhyay.
Bengaluru-based iKaaz Software, a mobile payment solution provider, is launching a new application, MOWA, that works almost like the Apple Pay
Five Ahmedabad serial bomb blasts accused, who were on Monday sent to another three days of police remand in the failed Sabarmati jailbreak attempt case, complained of "torture" by police.
South Central Railway (SCR), Chennai, combined well to derail Rail Coach Factory (RCF), Kapurthala, with a 4-1 defeat in a quarter-final match of the DCB Presents Aga Khan hockey tournament - 2011, at the Bombay Gymkhana ground, in Mumbai, on Thursday.
Rashtriya Chemicals & Fertilizers, Mumbai, powered by Shiva Kumar's double strikes, overcame hosts Bombay Gymkhana President's XI 4-1 in a first round match of the DCB Presents Aga Khan hockey tournament - 2011, at the Bombay Gymkhana ground, on Monday.
Bharat Petroleum Corporation Limited (BPCL), Bangalore scored a surprise 4-1 win against Oil & Natural Gas Corporation (ONGC), Delhi in the final of the DCB Presents Aga Khan hockey tournament -- 2011, at the Bombay Gymkhana ground, on Saturday evening.
Oil & Natural Gas Corporation (ONGC), Delhi, rode on a fine hat-trick from Akashdeep Singh to trounce Indian Oil Corporation (IOC), Bangalore, 5-2, while Bharat Petroleum Corporation Limited (BPCL), Bangalore, struggled to overcome South Central Railway (SCR), Secunderabad 1-0 in the semi-finals on Friday.
Captain Deepak Thakur's brilliant hat-trick helped Indian Oil Corporation (IOC) rally brilliantly and beat Karnataka XI 4-3 in a quarter-final match of the DCB Presents Aga Khan hockey tournament - 2011, at the Bombay Gymkhana ground, in Mumbai, on Tuesday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Development Credit Bank, an emerging private sector bank in India, would shortly go in for its IPO to raise Rs 300 crore (Rs 3 billion).
Girish Nadkarni of IL&FS Investsmart discusses the new IPOs that came out this week. He says that Atlanta and ACE are the better investment bets currently in the market. However, the investor interest is not very high in Deep Industries.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Venture capitalists Adam Wolfensohn and Ameya Bijoor tell Anjuli Bhargava about the kind of investments and companies they are looking to invest in.
The agitators belonging to 70 organisations, led by KMSS and Asom Jatiyatabadi Yuba Chatra Parishad, gathered at the secretariat to protest against the passing of the bill in the Lower House of Parliament.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
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.
The rupee depreciated by 17 paise to end at nearly one-month low of 61.72 against the greenback on Friday on sustained dollar demand even as domestic equities surged to new highs.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
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