Jaitley said inflation has been under control for long and is likely to remain so on the back of good monsoon and unlikely spike in oil prices.
The deadly terror attacks, which crippled Mumbai on Thursday also, will not be able to dent the confidence of India's banking and financial system, which, bankers feel, will bounce back to normal soon.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
Several PSU lenders, including Canara Bank, Bank of India and Bank of Baroda, Syndicate Bank, have already slashed their benchmark prime lending rates by 0.75 per cent after Finance Minister P Chidambaram met state-owned banks' heads to discuss the possibility of rate cuts.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
On the sectoral map, consumer durables stayed in the lead by surging 2.39 per cent, followed by realty index, oil and gas and infra.
This year, at least eight public sector banks are set to scrap their existing Bancassurance tie-ups with insurers. They are: Bank of India, Union Bank, Karnataka Bank, Allahabad Bank, Indian Overseas Bank, Bank of Maharashtra and Federal Bank.
There were more than three losers against every gainer on BSE
Home, auto and other retail loans from SBI and Union Bank of India will cost more, with the two public sector banks on Thursday announcing an identical 0.5 hike in their benchmark prime lending rates to protect margins.
Nifty PSU bank index dropped nearly 2%
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
The government will soon finalise a reshuffle of top management teams in the country's leading 11 public sector banks (PSBs), 10 of which are listed on the stock exchanges. They include the country's third largest bank, Canara Bank, and fifth largest bank, Bank of Baroda.
Manish Khera, chief executive officer, Fino, tells Shriya Bubna that the smart card technology platform of Fino can help banks cut operational costs by one-third and MFIs, but connectivity remains an issue.
BoI, Union Bank follow, earnings to be impacted.
Customers will not be charged for ATM withdrawals from April 1, Reserve Bank of India deputy governor V Leeladhar announced in Mumbai on Monday.
The mergers will not involve any cash but only share swaps
The RBI Deputy Governor, V Leeladhar has joined the board of National Bank for Agriculture and Rural Development.
After nearly three quarters of generosity , banks are now facing pressure to reduce deposit rates.
The Indian financial system is driven more by the domestic factors and "Fed rate cut is one of the triggers to review rates ", said Union Bank Bank of India chairman M V Nair.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
For tapping high growth units in special economic zones, a host of Indian banks had established offshore banking units in 2003-04 in these duty free enclaves
'If the new rate is lower than your current rate, ask your bank to shift you to it.' 'This can be done by paying a fee of Rs 5,000 to Rs 6,000.'
UBS has already recruited 180 people in the city.
Global rating agency Fitch has upgraded its support ratings for several Indian banks, including ICICI Bank, HDFC, Punjab National Bank, Canara Bank, Bank of India and IDBI among others.
Some of the public banks showed improvement; much more still needs to be done
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
Investor Rakesh Jhunjhunwala and his family's net worth in listed companies surges in the recent bull run.
The government will raise at least Rs 2,250 crore (Rs 22.5billion) for selling its residual stake in the country's top carmaker Maruti Udyog Ltd to banks and financial institutions, as it has fixed a floor price of Rs 760 a share.
According to sources close to the developments, major PSU banks -- State Bank of India, Bank of Baroda, Bank of India, and Union Bank of India -- were likely to review the deposit rates for a possible upward move.
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
Raghuram Rajan on Tuesday said the central bank cannot ask them to lower the rates.
There are certain key points that one must know when while applying for education loans
Banks have as much as Rs 3,652 crore (Rs 36.52 billion) of unclaimed deposits lying with them, with the State Bank of India (SBI) alone accounting for about 15 per cent of the amount, the government informed Parliament on Friday.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Six nationalised banks, including Canara Bank and Bank of Baroda, on Wednesday signed an agreement with Indian Railways for setting up more than 700 ATMs at railway stations across the country.
Indian banks are the 2nd-fastest-growing ones.
21 banks have launched United Payments Interface application.
ICICI Bank, Union Bank of India, Central Bank of India and Dena Bank have all hiked interest rates on NRE and FCNR fixed deposits from January 1.
The state-owned carrier Indian has finally made its way into the e-ticketing club.
The Union Bank of India has revised downwards the interest rates applicable to its dollar-denominated FCNR (B) and NRE (Rupee) term deposits.
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