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.
'Paying my taxes, diligently repaying my loans, following the rules, scrupulously doing things by the book, when there's this big, beautiful world of unregulated chicanery I could have indulged in for years before just flying off to greener pastures, like Lalit Modi, Vijay Mallya and Nirav Modi,' says Mitali Saran.
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.
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today's session
Breaking silence over the Rs 12,967 crore scam at Punjab National Bank, he said: "I have chosen to speak today to convey that we at the Reserve Bank of India also feel the anger, hurt and pain at the banking sector frauds and irregularities."
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
By diversifying into developed market equities, Indian investors can mitigate the impact of cyclicality in returns as well as reduce currency risk, experts tell Sanjay Kumar Singh.
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.
Y H Malegam, 80, will head the panel that will look into non-performing bank assets and their relation to the Rs 114-bn PNB scam.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
Retirees have better options that offer liquidity, better returns and are more tax-efficient.
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
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.
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.
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.
Oil & gas, banking and pharma sector stocks stole the show
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
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
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.
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.
'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.
The S&P BSE Midcap and the S&P BSE Smallcap indices added 0.5% and 0.7%, respectively
Unit-linked plans or Ulips continue to be expensive compared to other instruments, say certified financial planners.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
A dummy's guide to all you must know about before availing an education loan
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
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
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.
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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.
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
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.
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.
Offenders will be tried under Prevention of Money Laundering Act
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.
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