Indian Bank plans an initial public offer in July 2004 to raise capital for funding its expansions, its chairman Ranjana Kumar said on Tuesday.
The financial position of India's public sector banks (PSBs) has deteriorated sharply over the past financial year.
Taking advantage of the robust financial health of public-sector banks, the government has asked them to pay interim dividends, as part of efforts to contain fiscal deficit within 5.6 per cent of the GDP.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
SBI Life Insurance is in the process of seeking permission from foreign regulators to sell its products to Non-Resident Indians through the overseas branches of the State Bank of India.
Following the footsteps of its peers, the Kolkata-based UCO Bank has priced its Rs 240 crore initial public offer at an attractive Rs 12 a share to woo retail investors.
The government on Wednesday pulled up some of the PSU banks for not meeting the agriculture loan targets, but praised for a hefty 37 per cent rise in the operating profits aggregating at over Rs 21,000 crore (Rs 210 billion).
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
Customers using e-commerce websites are young and techno-savvy.
'The effect will be seen two-three quarters down the line.'
He advised banks to facilitate appropriate credit expansion.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
The conciliation talks between UFBU and Indian Banks Association held in Mumbai moved a step ahead positively after the IBA offered a 9.5 per cent hike on pay slip cost and hold another round of talks on January 27, UFBU national Convenor M V Murali told PTI in Tirupati over phone.
Twitter is a great medium for political leaders to communicate with their supporters and engage with their opponents. Provided the tweets are coherent and sensible. So why is the Delhi chief minister tweeting illogical stuff about the PM, asks Sudhir Bisht.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
Among the states due for election next year are AP, Haryana and Odisha, which have a fair share of agri credit. If these states individually announced debt relief, the combined waiver would be at least around Rs 600 bn to Rs 700 bn. Clearly, this will be a frightening challenge for Indian banks.
State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Cyber crime wing has been receiving 4-5 complaints every day involving impersonation
NPA problem to continue for next 2-3 quarters: banks to FinMin
His statement assumes significance in the light of scams in the state-owned banks.
Large moves in equity and in currency are expected during March settlement.
'I would want people to have food on their tables and their wages to rise.' 'Will that happen or not is the question that we need to ask and answer.'
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
Jaitley also asked banks to take steps to ensure smooth credit flow to projects.
Despite all of the PM's many strengths, it is increasingly clear that he does not necessarily have a coherent and clear worldview on matters of macro policy.
In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
The agency said that over the next two years new NPL formation rates would witness a gradual decline.
Nearly 700 of the 1,500 employees, who still claim to be on the payroll of the defunct airline, are women.
The government is open to providing more capital than that announced in the Budget.
In a time of crisis like this, a government needs its people and politics united. A nation of India's size and diversity can't fight a stronger rival with fraying social cohesion, observes Shekhar Gupta.
Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
Risk sentiment received a boost after eight core sectors grew to a five-month high of 4.9 per cent in August
Rajan said the process of dialogue with the government did not reach a stage where he could have agreed to stay on
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
The petition has also made the Ministry of Finance and the bank as parties in the case.
There would be no retrenchment of employees and that their services conditions would also not be affected post merger.
The Reserve Bank on Friday said the economy would grow by 5 to 5.5 per cent in the current fiscal, pinning its hopes on good farm output and improved exports.
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