Bank stocks took a hammering today as the Centre said it was not in its policy to take back its equity from public sector banks at par value.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
Banking PSU stocks made a brave comeback on Monday after succumbing to losses Friday following the Union Budget's ignoring a long-standing demand by the sector on FDI limits.
Canara Bank on Wednesday announced 0.5-0.75 per cent cut in housing loans rates to 8.5-9.25 per cent with monthly installment payments coming down to Rs 911 per lakh for 20-year loan from February.
The Committee, which has been set up in pursuance of the announcement made by the Minister in his Budget speech, will also suggest whether the unclaimed deposit should come to government or be kept in a separate account.
The government has mopped up Rs 1,26,034 crore (Rs billion) till last week taking the gross market borrowing to over 88 per cent of the budgeted Rs 1,42,867 crore (Rs 1,428.67 billion) for the entire fiscal.
Retirees have better options that offer liquidity, better returns and are more tax-efficient.
Oil & gas, banking and pharma sector stocks stole the show
Stung by the crisis arising out of the Syndicate Bank bribery case, lenders have gone into a fire-fighting mode to avoid fresh bad loans from their exposure to Bhushan Steel, one of the most indebted steel companies in the country.
Bank Nifty pared all its intraday gains to end over 1% lower led by losses in BoB, ICICI Bank, Axis Bank and Bank of India
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
PSU bank stocks held the market's attention in morning trades on Tuesday as there's much anticipation that the Union Budget for 2003-04 may bring about the raising of foreign holding ceiling in these banks.
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
'Karti Chidambaram may be the beginning of a larger can of worms that the government has waited thus far to pop open,' says Vikram Johri.
No one knows where billionaire Nirav Modi emerged from. What is known is that when he came (back) to India, he cut his teeth in the diamond business under the tutelage of his jeweller uncle. Then he began to build a glittering international brand. Soon even Hollywood stars like Kate Winslet and Dakota Johnson were walking the red carpet showing off Nirav Modi jewels.
The S&P BSE Midcap and the S&P BSE Smallcap indices added 0.5% and 0.7%, respectively
In a Bollywood-style heist, thieves dug up a 125-feet-long tunnel to a nationalised a bank in Sonepat district and broke into 77 lockers decamping with cash, jewellery and other valuables.
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
Unit-linked plans or Ulips continue to be expensive compared to other instruments, say certified financial planners.
Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, writes Tamal Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, says Tamal Bandyopadhyay.
The currency ban has changed the lives of the people facilitating this move across India.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
Buyer actor-producer Sachiin Joshi, who owns Viiking Media, has reportedly bought the villa, spread over 12,350 sq ft or three acre at Candolim.
The services sector, which plays the biggest role in shaping the economy, is facing loads of issues currently. The largest segments, financial and real estate, are struggling to cope with bad debts and low demand for houses.
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
A dummy's guide to all you must know about before availing an education loan
Offenders will be tried under Prevention of Money Laundering Act
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The RBI has bought Rs 124.62 billion worth of bonds since its announcement on Aug. 20 that it would occasionally buy bonds to relieve some of the cash tightness in the banking system.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
Govt renews search for five PSU bank chiefs; norms relaxed.
When looking at fund returns, avoid looking at just the past 12 months' performance, says Sanjay Kumar Singh
Although the Haryana police claim to have solved the sensational Rs 100 crore bank heist case in Gohana town of Sonipat, the family of the robbery's alleged mastermind refuse to believe the cops. The family of Mahipal Banwala, the alleged mastermind who was found dead in his car, refuse to believe that a strong self-made man like him could never have committed suicide.
UB Group Chairman Vijay Mallya is no longer a member of India's 100 Richest club, even as fortunes of the country's uber-rich have seen a significant growth since last year.
About 1,556 shares have advanced, 1,211 shares declined, and 182 shares are unchanged.
PMAY-Gramin, which was launched in November 2016, aims to construct 10 million homes by March 31, 2019, with private sector and state government participation
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