The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
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With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
'The critics were writing so well about me, I was shocked!' 'My phone didn't stop ringing!' 'This is the biggest tribute for a senior actor.' 'Now, I can pack up.'
The Indian rupee slumped to a record low near 69 to the dollar on Wednesday on growing worries that foreign investors will continue to sell out of a country facing stiff economic challenges and volatile global markets.
Many from this small lender have made it to other bank boards over the past 5 years
With the first salary date after demonetisation around the corner, will India's labourers be able to take their hard-earned wages home?
Could this reluctance be tied to the family's projection of themselves as the last bastion of the aam-aadmi's interests? Do they fear that a full disclosure of their not-inconsiderable assets would go against their carefully-cultivated pro-poor image, wonders Saisuresh Sivaswamy.
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
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