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The strike will be organised by the United Forum of Bank Unions (UFBU), an umbrella body of nine employee and officer unions.
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Tata Capital, the financial services arm of the country’s largest business house, is sticking to its 25-30% growth target for FY19 despite the turbulence in the non-banking financial companies’ sector (NBFC).
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"It is far below our expectation. We have urged upon them to improve their offer," said Rajen Nagar, president at All Indian Bank Employees Association.
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Gurumurthy, who joined the RBI in August, is now one of the country's most influential economic voices.
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UIDAI said the matter has been carefully examined, and the apex court has upheld the constitutionality of the Aadhaar programme, specifically Section 7 of the Aadhaar Act.
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Banks had however lent support to NBFCs by purchasing loan portfolio from them to help them tide over in liquidity crunch.
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Union Food Processing Minister Harsimrat Kaur Badal termed food processing as "golden sector" and said India has the potential to become world food factory.
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Yes Bank, Wipro, Kotak Mahindra Bank, Mahindra & Mahindra and Infosys were among the top gainers on the BSE index, rising as much as 5.92 per cent. On NSE, sub-indices Nifty Realty, Pharma and IT surged the most by gaining as much as 2.20 per cent.
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The bank's board on January 13, 2018 had approved a composite scheme of amalgamation of Capital First, Capital First Home Finance and Capital First Securities (collectively referred as amalgamating companies) with IDFC Bank.
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Shares of the private lender had tumbled 9.5 per cent (intra-day) on Thursday after Icra downgraded its long-term ratings. "The rating downgrade considers the series of resignations from the board of directors, which raises concerns on corporate governance at the bank," Icra said in a note on Wednesday.
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Forex traders said, increased selling of the American currency by exporters and banks and sustained foreign fund inflows also supported the domestic currency. At the interbank forex market, the rupee opened higher at 69.68 and rose further to quote at 69.64, showing a rise of 21 paise over its previous close.
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On the BSE platform, Yes Bank, Mahindra & Mahindra, ONGC, Wipro and Infosys were among the top gainers with their stocks rising as much as 4.83 per cent. On NSE, all the sub-indices were trading in green with Nifty PSU Bank leading the pack, gaining 1.02 per cent.
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Fresh credit to deposit ratio is at 122% as of November 9, compared with 90% a year ago, show the latest data from the Reserve Bank of India (RBI).
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NCLT took action following a petition filed by operational creditors to the company and appointed an interim resolution professional, prompting the financial creditors led by State Bank of India to swing into action.
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Monitoring committee will petition NCLT to seek more time to look for new takers, among other options.
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In addition to an increase in the MCLR, the spread over MCLRs for various categories of loans is also going up, resulting in an increase in the overall rates in the banking system.
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Seven Indian workers from infrastructure financing firm IL&FS, which rocked financial markets after it began missing debt payments in late August
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Exporters get the subsidy under the 'Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit'.
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While issuing the guidelines in May this year, the RBI had said the date of its implementation would be notified in a due course.
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The proposed transaction values SBI GI at over Rs 12,000 crore. The deal is subject to regulatory approvals, said SBI.
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The private sector lender will recommend the name of new chairman for approval by the RBI after the meetings of the Nomination and Remuneration Committee (N&RC) and the board of directors scheduled for December 13.
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The RBI has eased norms for NBFCs to sell or securitise their loan books, in a bid to ease stress in the sector.
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On the BSE index, Bajaj Auto, Kotak Mahindra Bank, Mahindra & Mahindra, Vedanta and IndusInd Bank were among the major gainers, rising as much as 4.33 per cent. On NSE, apart from Nifty IT, all other sub-indices finished in green, gaining as much as 1.92 per cent.
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The recent public row between the government and the RBI over policy matters unrelated to monetary policy has "somewhat diminished" the central bank's independence according to a third of the 46 respondents, though two-thirds saw no major impact.
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There were widespread opposition to the decision with political parties terming it a move to curb J&K's financial autonomy.
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According to a RBI July 6, 2017 circular, banks must have registered mobile number of their customers for SMS alerts for electronic banking transactions like internet and mobile banking.
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Yes Bank has had a tumultuous couple of months, with its stock nearly halving in value this year and a number of departures from its board, since the country's central bank cut short its chief executive officer's term in September.
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In response to complaints, HDFC Bank has issued an apology stating that following the launch of its new m-banking app, it has been experiencing extremely heavy traffic on its online channel.
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SBI has increased rates on all deposits over one year and these come into effect from Wednesday. Most of the bank’s deposits are in the above one-year category. Given that the benchmark rate for loans is determined by cost of funds, there is a strong likelihood that the bank will increase its marginal cost of lending rate in coming months.
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SpiceJet owes the airport operator Rs 117 crore in unpaid dues for landing, parking and other airport charges, according to media reports, against an existing bank guarantee of Rs 104 crore.
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Covenants suggest that the value of Yes Bank shares be at least Rs. 1,890 crores, according to transaction summary provided by Templeton.
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Currency in circulation has dipped Rs 11,365 crore since the Diwali week when it reached a peak of Rs 20.2 lakh crore to Rs 20.1 lakh crore as of November 23, according to the latest figures released by the RBI.
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The renewable assets of the group include operating wind power plants with an aggregate capacity of 873.5-mw, and under-construction wind power plants worth 104 mw capacity.
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The stock fell sharply by 11.71 per cent to end at Rs 161.70 on the BSE. During the day, it dived 12.55 per cent to Rs 160.15, its 52-week low. On the NSE, shares of the company plunged 11.30 per cent to close at Rs 162.
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The bank also set a target on consumer loans to grow by 50 per cent in financial year 2018-19 to Rs 5,000 crore, ICICI Bank, Executive Director, Anup Bagchi told reporters here.
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The private sector lender, which is grappling with governance as well as NPA issues, has seen resignations of three independent directors, including Chairman Ashok Chawla.
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The State Bank of India on Wednesday revised the interest rates for select retail Domestic Term Deposits. Rates have been revised for tenors "one year to less than two years" and "two years to less than 3 years."
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As per the news report, the problem is so intense that apart from the new Rs 2,000 and Rs 500 notes, new Rs 10 notes issued in 2018 are also becoming 'unusable'.
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An application by the State Bank of India that ET has reviewed said it was approaching the tribunal as the Dhoots did not respond to a guarantee invocation notice sent to them.
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NBFCs can take a leaf out of Darwin's theory that it’s not the strongest but the most adaptable that survives.
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it is not unusual for a central bank to transfer a part of its profits to fiscal accounts — if a government so desires, says James McCormak.
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The deal would help the insurance behemoth to enter the banking space and would provide business synergies despite the IDBI Bank's stressed balance sheet.
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The plan submitted to the NCLT also hinted at non-transparent and illegal transactions by the previous management in selling a group entity in June 2017.
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RBI will have to come with a plan to prevent banks accumulating bad loans rather than just penalizing them.
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In his new role, Khandelwal will guide Elysium to strengthen existing business lines and help taking informed strategic decisions to pursue new growth areas.
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The interest payment on both NCDs were due on November 26, the company said in a filing to the exchanges.
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The government earlier this year pumped Rs 11,336 crore in five PSBs -- PNB, Allahabad Bank, Indian Overseas Bank, Andhra Bank and Corporation Bank -- to improve their financial health.
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