Yes Bank said it has received approval from the Capital Raising Committee of the Board of Directors of the Bank for raising funds by a way of FPO.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
The sale of the NPA account is to happen through e-auction on January 30, as per the bid invite.
The State Bank of India on Wednesday became the first Indian bank to begin full-fledged operation in China.
Unperturbed by election uncertainty, investors poured record sums into equity mutual fund (MF) schemes in May, driving India closer to a $5 trillion market capitalisation. The Rs 34,697 crore net inflows into actively managed equity funds last month surpassed the previous high of Rs 28,463 crore recorded in March 2022. In April 2024, equity schemes had garnered nearly Rs 19,000 crore.
ICICI Bank is offering the salaried having an account with it, credit from Rs 500,000 going up to Rs 1 crore against property owned by them
Benchmark equity indices Sensex and Nifty rebounded on Wednesday, propelled by bargain hunting in index majors Reliance Industries, ITC and SBI amid a largely firm trend in global equities. In a highly volatile trade, the 30-share BSE Sensex rebounded 89.64 points or 0.12 per cent to settle at 72,101.69. During the day, it jumped 390.62 points or 0.54 per cent to 72,402.67.
'Those betting against PSUs will likely be punished in this upswing.'
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
The country's largest lender, State Bank of India, has chalked out strategies to grow aggressively in overseas markets, especially Singapore, in this fiscal, a top SBI official said.
A teaser loan is one where the lender offers a slightly lower rate in the initial years and then charges higher rates in later years.
SBI Life Insurance has launched SBI Life Shubh Nivesh, a traditional savings plan with an option of whole life cover.
'SBT's merger with SBI could lead to closure of several branches and hurt employment opportunities.'
The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.
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.
In a landmark judgment that delivered a big blow to the government, the Supreme Court on Thursday annulled the electoral bonds scheme, saying it violates the constitutional right to freedom of speech and expression as well as the right to information.
At its 58th annual convocation to be held on March 22, Bhattacharya will be conferred the prestigious Sir Jehangir Ghandy Medal for industrial and social peace.
In the Sensex pack, NTPC, Tata Steel, SBI and IndusInd Bank were among the major laggards. In contrast, Wipro, HCL Tech, Mahindra & Mahindra and Nestle were among the nine stocks that defied the trend.
At all India level, per capita income will decline by 5.4 per cent in FY21 to Rs 1.43 lakh, the report said.
This includes a premium of Rs 2,181.69 on a share with a face value of Rs 10 each.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
SBI's gross NPA figures have shown a decline for three consecutive quarters.
The bank said that it has retained interest rate on savings bank deposit at 3 per cent for customers with balances above Rs 100,000. Customers with SB balance up to Rs 100,000 will continue to get the rate of interest at 3.50 per cent despite cut in the repo rate by the RBI earlier this month.
The country's gross domestic product (GDP) is expected to grow at around 18.5 per cent with an upward bias in the first quarter of the current financial year, according to SBI research report Ecowrap. This estimate is lower than the Reserve Bank of India's GDP growth projection of 21.4 per cent for the April-June quarter. "Based on our 'Nowcasting' model, the forecasted GDP growth for Q1 FY22 would be around 18.5 per cent (with upward bias)," the report said. Higher growth in Q1 FY22 is mainly on account of a low base.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
State Bank of India partnered GE Capital in 1998 for its credit card business.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
'Investors should do proper analysis before putting in their money in NFOs as most new launches are in the high-risk thematic space.'
The new rates, effective Wednesday, is the third reduction by SBI in this financial year having cut the rates by 5 bps each in April and May, while its home loan rates has come down by 20 bps during this period.
The apparent reason for this bold step is SBI's concern over rising defaults on loans for such farm equipment. The additional trigger for this may have also been the SBI top management's assessment that defaults on farm equipment loans will only rise in the wake of the central government's announcement of the Rs 60,000 crore (Rs 600 billion) farm loan waiver scheme.
Four days ahead of RBI's monetary policy review, SBI Chairman Pratip Chaudhuri says a cut of one percentage point in CRR will allow the bank to lower lending rates 20 basis points.
With a new management in place, State Bank of India (SBI), the country's largest lender, is planning to focus on non-performing assets.
Outgoing State Bank of India chairman Om Prakash Bhatt continued his defiance of the central bank on the teaser loan front saying 'the Reserve Bank never understood our special home loan product'.
Days after JP Morgan announced the inclusion of government bonds in its emerging market (EM) bond index, a host of banks and other financial institutions (FIs) are set to tap the debt market. They plan to raise Rs 18,000 crore by issuing non-convertible debentures (NCDs) and bonds. National Bank for Agriculture and Rural Development (Nabard) plans to raise up to Rs 3,000 crore via five-year social impact bonds on Tuesday, the first of its kind in India.
Wipro was the biggest gainer in the Sensex chart, rising 4.79 per cent, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.
Justice Shalini Phansalkar Joshi, who presides over the special court set up for cases related to the 1992 securities scam, said in her judgment last week that there was no hesitation in holding that that the prosecution had failed to prove the case beyond reasonable doubt.
