Moody's Investors Service on Thursday downgraded subordinated debt ratings of 11 Indian banks, including SBI, ICICI Bank and HDFC Bank.
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
The RBI's bi-monthly policy review on June 3 will be the first after Prime Minister Narendra Modi assumed office on May 26.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
BBPS allows you to pay electricity, telephone, water supply, gas and DTH bills. Its scope will be expanded to include other payments like school and university fees, government taxes, insurance premiums, mutual fund investments, even credit card bills.
Indian Overseas Bank will hit the capital market on September 5 with its Rs 240 crore (Rs 2.4 billion) public offer priced at Rs 24 per share, its chairman S C Gupta said in New Delhi on Friday.
'The common man in India who doesn't have anything to hide will have to put up with this short period of discomfort.' 'It will not last more than 10 days at the most.'
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
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The penalty was levied in connection with deficiencies and lapses in the operation and maintenance of the currency chest at the Secunderabad branch of SBI, it said. Last month, the RBI had imposed a penalty of Rs 3 crore (Rs 30 million) on SBI for violating know your customer/anti-money laundering norms.
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
Banks have issues with their balance sheet profiles, say PSB executives.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
The deficit data was the latest in a run of positive signs for the sluggish domestic economy and could put India in a better position should the Fed start tapering, than in the summer when the rupee hit a record low.
Here's how NRIs can protect their overseas earnings from exchange rate risk.
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
Mid-cap and small-cap stocks on the BSE were on the buyers' radar on Tuesday as investors booked profits in large-cap shares and the benchmark Sensex fell 264.57 points from a record close.
The post of chairman and managing director has been split and the government has appointed managing directors and chief executive officers in four banks -- Indian Overseas Bank, United Bank of India, Oriental Bank of Commerce and Vijaya Bank.
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.
The agency noted that the reviews of these banks' sub-debt ratings were not indication of any change in the affected banks' fundamental credit quality.
2,138 firms deposited unaccounted Rs 5,000 cr in zero-balance accounts during the note ban
His remark comes hours after the government disclosed before the Supreme Court eight more names, including that of Pradip Burman, one of Dabur India promoters, a bullion trader and a Goa miner against whom it has started prosecution for allegedly stashing black money in foreign 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 move will have cascading effects for lot of related sectors
Banking services across the country were hit on Wednesday by the day-long strike by 10 central trade unions and 14 bank unions, but workers of largest lender SBI and a few other banks stayed off the agitation.
The Reserve Bank of India (RBI) plans to impose stricter limits on how much a bank can lend to a single corporate group, a move aimed at curbing risk in the banking sector at a time when bad loans are on the rise.
Two straight years of less than 5 percent economic expansion have led to a surge in bad loans for Indian lenders.
The candidate will be expected to have at least two to three years of remaining service.
Analysts, however, said the timing of the infusion was good.
Vijay Mallya left India on March 2, presumably for London.
Govt renews search for five PSU bank chiefs; norms relaxed.
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
After the government toed the UPA government's line in the Supreme Court, Finance Minister Arun Jaitley on Friday blamed the agreement entered into by the Congress government with Germany in 1995 as a constraining factor in disclosing details of black money stashed abroad.
Next set of Q4 FY16 earnings, progress of monsoon along with election poll outcome will dictate market trend this week
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
The rupee appreciated by 10 paise to close at a nearly six-week high of 60.29 against the US dollar in the previous session tracking a solid rally in local shares and continued dollar selling by exporters and some banks.
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