'NiMo having skipped, the next best bet is a high-profile banker.' 'Ms Usha happens to be in the wrong place at the wrong time.' 'Ms Usha's crime? That's as thin as it gets.'
On government's last week's announcement of revamping of PSU banks, Fitch Ratings said the move is "credit positive, but risks remain".
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
Conducted by research firm IDC, the study titled 'Understanding the Indian Retail Banking Customer' says push marketing is fast becoming obsolete and the thrust should be on creating brand advocates.
Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
Punjab National Bank is the second largest PSU bank, in which government holding is 58.87 per cent.
The government has been pressing citizens to pay taxes and be compliant, but they have very little to show regarding improved efficiencies in the companies they themselves own, the fund managers said.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
Highlights of the RBI monetary policy.
'It is going to be a buyers' market and you will get a good number of companies at reasonable valuations and that's when one has to be very greedy.'
A tribunal on Monday halted a $75-million settlement due to be paid by Diageo Plc to Mallya.
Staff of PSU banks, bank aspirants also caught offering money laundering solutions in a new expose.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
Finance Minister Arun Jaitley said that at a time when the private sector has been somewhat conservative in investments, public investment always takes the lead.
Will take their views on improving investment climate and boosting economy.
Despite the large economic impact of the Covid-19 pandemic, the markets have recovered sharply even though the performance among individual stocks has been quite polarised.
Replying to a question on charges of money laundering by certain employees of three private sector banks, Chidambaram said the RBI and the Finance Ministry are looking into the issue.
The trigger is UPSC's new exam pattern, entrance exams in PSU banks and undertakings, says Sanjay Jog
The most sought after exam for aspiring probationary officers will be held on Sunday, April 28.
Moody's said the asset quality of the banks will remain under pressure.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
The consortium of 17 banks, led by SBI, has an outstanding of over Rs 7,000 crore (Rs 70 billion) from the carrier but has shares of listed entities like United Spirits as collaterals which should realise Rs 500 crore (Rs 5 billion).
The central bank kept cash reserve ratio unchanged at 4 per cent.
The market breadth, indicating the overall health of the market, was positive
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
Discarding a weak economic growth number, markets today rose for the fourth straight day with BSE Sensex gaining 169 points to close at a new 19-month high on hopes of imminent rate cut to revive the slowing economy.
Let all the stakeholders, especially the government, remember that if the Make in India lion needs to roar and rise again, it won't happen unless India Inc rises too, points out Shekaar Subramanian.
Banking stocks dipped with Nifty PSU Bank index falling 1.7% after the government notified the ordinance that seeks to tackle non-performing loans in the sector.
The present consolidation can be used to buy into some fundamentally good blue chips including select PSU banks that have lagged the general market, says Sonali Ranade
It is to keep labour unions away and make the employees feel important.
Move can also bring a huge change in the way business is done in India, where firms use multiple current accounts, often for even individual projects, making them difficult to monitor.
The government's 4 per cent stake sale in Hindustan Copper was on Friday over-subscribed, marking the start of ambitious Rs 30,000-crore (Rs 300 billion) disinvestment programme that is crucial for meeting the fiscal deficit target.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
Simple tips to prepare for bank interviews from M B Sivaramakrishnan, a HR professional and author of the book Guide to Bank Interviews.
The rupee declined by 18 paise to 55.44 against the dollar in early trade on Friday, snapping four sessions of gains, at the Interbank Foreign Exchange on fresh demand for the American currency.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
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