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Bank recap prop on way

Jul 20, 2014 at 03:21 | Source: Calcutta Telegraph News

New Delhi, July 19: Finance minister Arun Jaitley today said state-run banks would require recapitalisation worth Rs 2.4 lakh crore and this would be a top priority for the government. Officials said the finance ministry would prepare a draft cabine...

SBI selective in rate cut

Jul 16, 2014 at 09:17 | Source: Calcutta Telegraph News

Mumbai, July 15: The State Bank of India today reduced the interest rate on select term deposits by up to 50 basis points. Sources in the country�s largest lender said there were no plans to slash the lending rates. The SBI�s move is expected to...

Insurance preference for FDI funds

Jul 14, 2014 at 05:37 | Source: Calcutta Telegraph News

Calcutta, July 13: The insurance industry is in favour of a more long-term capital infusion in the form of FDI following the government’s proposal to relax the composite cap on foreign investment in the sector in the budget. Finance minister A...

Foreign brokerages hail Jaitley's budget as growth, reforms-oriented

Jul 11, 2014 at 17:12 | Source: FirstPost

Mumbai: Analysts at foreign brokerages have lauded Finance Minster Arun Jaitley's maiden Budget saying the measures announced will boost growth as it has ushered in the much-needed reforms and has created a conducive investment climate.Japanese broke...

Piramal Enterprises close to buying majority stake in six road assets for $333M

Jul 08, 2014 at 12:00 | Source: VC Circle

The firm had signed a MoU with SBI Capital to co-operate on opportunities in acquiring controlling stakes in road projects. Piramal Enterprises is close to sealing half a dozen deals to buy majority stake in a clutch of road assets for around Rs 2,00...

Sensex breaches 26,000: These are the 5 stocks you should be watching on Budget day and after

Jul 07, 2014 at 15:25 | Source: FirstPost

Finance Minister Arun Jaitley's budget for 2014 is coming at a very opportune time. The economy, which was in tatters for the last three years, is on the cusp of a revival with many factors showing signs of improvement.Economists are of the opinion t...

Assam MLA's relative arrested in Meghalaya

Jul 04, 2014 at 04:30 | Source: FirstPost

Shillong, July 3 (IANS) A relative of an Assam legislator was arrested in Meghalaya for his involvement in the abduction of a State Bank of India official, police said here Thursday.Hanif Ali, the nephew of Independent MLA from Mankachar constituency...

Mahindra Mahindra appoints Anish Shah as President, Special Projects

Jul 03, 2014 at 21:12 | Source: Economic Times

MUMBAI: Auto-maker major Mahindra & Mahindra today said it has appointed Anish Shah as President - Group Special Projects with effect from August 1, 2014. Prior to joining Mahindra & Mahindra, Shah was the President and Chief Executive Officer of GE...

SBI closer to offering full digital services in India; launches 6 digital branches

Jul 02, 2014 at 12:40 | Source: VC Circle

VCCircle_SBI State Bank of India (SBI) has launched six digital branches across major metro cities in India including Mumbai, Delhi, Bangalore, Chennai and Ahmedabad. Branded as 'SBI InTouch', the branches are equipped with interactiv...

Budget 2014: FM Arun Jaitley may revise upwards fiscal deficit to 4.4%, says SBI Research

Jul 02, 2014 at 04:12 | Source: Economic Times

MUMBAI: Finance minister Arun Jaitley may revise upwards the fiscal deficit target for the current fiscal to 4.42 per cent up from 4.1 per cent projected in the interim budget, says a report by the Economic Research Department of State Bank of India ...

FM may revise upwards fiscal deficit to 4.4%: SBI Research

Jul 01, 2014 at 19:27 | Source: FirstPost

Mumbai: Finance minister Arun Jaitley may revise upwards the fiscal deficit target for the current fiscal to 4.42 percent up from 4.1 percent projected in the interim budget, says a report by the Economic Research Department of State Bank of India (S...

Lenders feel "trust deficit" in gems and jewellery sector

Jun 30, 2014 at 12:12 | Source: Economic Times

MUMBAI: Saddled with bad assets like the Rs 6,000 crore Winsome Diamonds account, lenders have come out strongly against shady practices in the gems and jewellery sector, stating that there exists a "trust deficit" that makes doing business with the...

Bank tip on gold use

Jun 29, 2014 at 09:42 | Source: Calcutta Telegraph News

Mumbai, June 28: Two of the country’s biggest state-run lenders — the State Bank of India and Bank of Baroda — today pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statuto...

Spotlight back on pharmaceuticals, IT stocks as rupee falters

Jun 28, 2014 at 12:37 | Source: Economic Times

MUMBAI: Investors have turned to defensive stocks such as technology and pharmaceuticals from cyclical and financial services as geopolitical tension in Iraq and a poor monsoon loom over India, threatening to undermine Prime Minister Narendra Modi's ...

SBI chairman to FM Jaitley: Budget should target job creation in MSME sector

Jun 27, 2014 at 10:50 | Source: FirstPost

Arundhati Bhattacharya, chairman and managing director, State Bank of India in an interview with CNBC-TV18 said economic growth benefits both private and public banks. Bhattacharya said job creation is one mean to ensure the economy starts moving an...

MFs look beyond overvalued large-cap stocks amid an improved outlook post elections

Jun 26, 2014 at 04:41 | Source: Economic Times

MUMBAI: With the Sensex trading at record levels, domestic fund managers are busy finding small-cap ideas that can give them handsome returns in the near term. During the past one month, leading fund houses, including HDFC, ICICI, DSP Blackrock and R...

Many large MFs reduce exposure to top 10 stocks

Jun 25, 2014 at 04:45 | Source: Economic Times

By: Rajesh N Naidu & Nikhil Walavalkar A sift through the portfolios of large mutual funds schemes shows that a majority of fund managers have reduced their holdings of the top ten stocks and diversified their portfolios this calendar year. Of the 4...

Mangalore Chem bids under Sebi scanner

Jun 25, 2014 at 03:57 | Source: Calcutta Telegraph News

Mumbai, June 24: The Securities and Exchange Board of India has sought clarifications from the two rival bidders for an additional stake in Vijay Mallya�s Mangalore Chemicals Fertilisers Ltd (MCFL). According to latest Sebi data, the clarification...

Weak FMCG front pulls Sensex down 74 points, ITC among biggest losers

Jun 23, 2014 at 17:23 | Source: FirstPost

Mumbai: Steep fall in the FMCG giant and among the top heavyweight, ITC, pulled the benchmark Sensex down by another 74 points to end at two-week low of 25,031.32, extending losses for the fourth session in a row.The market was already under selling ...

Freight fright for steel, cement

Jun 21, 2014 at 12:42 | Source: Calcutta Telegraph News

Mumbai, June 20: Prices of steel and cement are likely to go up following the hike in railway freight charges by 6.5 per cent, raising the possibility of a knock-on effect on inflation. Steel and cement are key to manufacturing; any increase in frei...

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