Exide Industries Ltd, foraying into the life insurance sector by picking up stake in ING Vysya Life Insurance Company Pvt Ltd, has earmarked a total investment of Rs 400 crore (Rs 4 billion) for the life insurance venture in the next four years.
Four banks -- Bank of Rajasthan (16 per cent), ING Vysya Bank (14.66 per cent), South Indian Bank (10 per cent) and Karnataka Bank (8.67 per cent) -- have sold their stakes aggregating 49.33 per cent in BhOB to IOB.
After taking over the home loan arm of ING Vysya Bank last year, Dewan Housing Finance now targets to double its business to Rs 900 crore this fiscal and increase its assets to Rs 5,000 crore by 2007.
Deal with current owner Exide may be signed next week
The exchange had earlier said that DLF would move out from Group A.
The All India Bank Officers Association (AIBOA) on Monday said it has launched a wing to deal with issues faced by those working for private sector lenders.
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
The 30-share Sensex provisionally ended up 366 points at 27,275 and the 50-share Nifty ended up 132 points at 8,235.
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.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
Around 67 per cent respondents see the rupee to be at or below 60 for FY'15.
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.
Loan rates will change at the next reset, while deposit rates will continue till maturity.
Industrial production was seen growing 1.8 per cent from a year earlier in July, slower than June's 3.4 per cent increase, according to the median consensus in a poll of 31 economists.
Bankers on Tuesday said the RBI's decision to hold key rates, coming after a decisive mandate received by the Narendra Modi government, was on expected lines and interest rates won't change even though the central bank's SLR cut infuses additional liquidity into the system.
A Reuters poll had forecast retail inflation would slow to 8.35 percent from an annual 8.79 percent in January.
Cardholders must ensure their debit cards are used in their presence.
With RBI likely to make credit costlier and banks to follow, some ideas on switching money to be able to do this.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
The year saw 30 QIP deals raising over $5 billion and 35 IPOs.
Higher disposable incomes, rural push and infra push to boost auto sector
The spike at private sector lenders like ICICI Bank and Axis Bank follows a push to grab market share from India's dominant state banks.
The 30-share Sensex ended up 214 points at 27,890 and the 50-share Nifty closed up 52 points at 8,430.
Credit rating agency Crisil observed in its report that some 'high frequency indicators go out of whack' as credit growth and service tax collections are not in tune with the CSO's growth projections.
The repo rate has been unchanged since January, when the RBI increased it by a quarter percentage point.
Dilip Bhat, joint managing director of the Prabhudas Lilladher group, a financial products agency, talks to Business Standard about the market rally ahead of the elections.
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
'I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak's shareholding very unreasonable,' says Sudhir Bisht.
Sensex gained over 100 points and ended at 26147.33 while the Nifty ended 27 points higher at 7,795.75.
Policymakers have been grappling with high prices for food staples such as onions and potatoes even after the central bank raised interest rates by a quarter percentage point in each of its previous two reviews.
Most immediately, he pledged to move slowly if needed in winding down an oil window that provides dollars directly to state-run oil companies
Key events that rocked India Inc in 2014 and one of them is Vishal Sikka taking over reins at Infosys.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
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