At a time when retrenchment has almost become synonymous with financial companies, state-run Union Bank of India is looking to hire 5,000 people at different levels to support its branch expansion plans.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
State Bank of India, the country's largest bank, said on Thursday its March quarter net profit rose 20 per cent year-on-year on a surge in retail lending in a buoyant economy, but its shares fell as the numbers were below expectations.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
In eight cases, the banks would violate the minimum public shareholding norms if their promoter, the Government of India, infused capital as announced.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
As per the Israeli Air Force, the fighter jets attacked a number of terrorist targets of the terrorist organization Hamas throughout the Gaza Strip. Among other things, the planes attacked a military compound and a weapons warehouse.
The NDB will have an initial authorised capital of $100 billion.
'India's move has grossly violated China's territorial sovereignty, seriously violated relevant agreements, protocols and important consensus reached between the two countries'
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
Bankers have hailed the Prime Minister's call to end "financial untouchability" and opened millions of accounts on the inaugural day itself.
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Reliance, Birla Group, Airtel eye small finance banks.
Bad debt rules are steps in right direction.
United Bank of India has denied having defaulted to the tune of Rs 800 crore. It also dismissed any merger talk.
UCO Bank will not allow Kingfisher Airlines to be represented by lawyers in the wilful default case hearing.
The Central Vigilance Committee has sought loan data from United Bank
With the euphoria over the National Democratic Alliance's victory in the stock market continuing, the rupee is likely to touch 57 to the dollar soon.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
Licence winners are expected to be announced by the first quarter of 2014.
At the bank's current market price, the stake on offer is worth about Rs 5,700 crore
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
In the week ending July 26 foreign exchange reserves had recorded a rise of $960.2 million to $ 280.16 billion
Two straight years of less than 5 percent economic expansion have led to a surge in bad loans for Indian lenders.
For the first time in its history, state-run carrier Air-India will sell its six Airbus A310-300 aircraft to a European bank and lease them back to its fleet for operations, in a sale-and-lease back deal.
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In the global market, the dollar was quoted lower in the early trade with investors looking ahead to the following day's European Central Bank policy decision.
If India grows at 8 per cent, the Indian banks will grow much faster.
A railway official said a train has been booked for the Dussehra rally from Nanded city in central Maharashtra.
The country's merchandise deficit narrowed to $9.2 billion in November, but exports growth eased to 5.9 percent from 13.5 percent in October, government data showed.
Mid-cap and small-cap stocks on the BSE were on the buyers' radar on Tuesday as investors booked profits in large-cap shares and the benchmark Sensex fell 264.57 points from a record close.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
BSE Sensex on Monday closed nearly 34 points higher at 26,350.17 with gains in realty, power, FMCG and oil & gas stocks amid sustained buying by domestic institutional investors.
In the offshore non-deliverable forwards, the one-month contract was at 62.26/36, while the three-month was at 62.83/93.
Qin's first in-person meeting with Jaishankar on Thursday came on the sidelines of the G20 foreign ministers conclave in New Delhi amid the over 34-month-long border row in eastern Ladakh.
Rich flow of funds has made Dharmaj one of the richest and most literate villages not only in the state but across the country
In the World Bank's rankings on the "Ease of Doing Business" India stands at 139 out of 189 economies surveyed in 2014; its position has in fact dropped from 131 last year.
The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
