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Consumers rejoice: Banks to reduce your loan rates by April thanks to RBI rate cut

Mar 05, 2015 at 09:38 | Source: FirstPost

The second surprise rate cut from Reserve Bank of India (RBI) governor, Raghuram Rajan this year is likely to prod commercial bankers to slash their lending rates to end-consumers, by April. Some banks may begin cutting rates in March itself.Not many...

SBI's up to $2.4 billion share sale likely by end April - sources

Mar 05, 2015 at 02:30 | Source: FirstPost

MUMBAI (Reuters) - State Bank of India (SBI), the country's biggest lender by assets, plans to raise between 110 billion rupees and 150 billion rupees ($1.8-$2.4 billion) via share sale by next month end, two sources directly involved in the process ...

Sensex crosses 30,000, Nifty at life high as markets cheer RBI rate cut

Mar 04, 2015 at 12:16 | Source: FirstPost

The RBI'ssurprise interest rate cut this morning sent the market soaring with the Sensex breaching the 30,000 point mark for the first time in its history.The Nifty was also a life timehigh as markets cheered the RBI's decision to cut monetary rates,...

Sensex crosses 30,0000 points, Nifty at life-time high as markets cheer RBI rate cut

Mar 04, 2015 at 09:27 | Source: FirstPost

The RBI'ssurprise interest rate cut this morning sent the market soaring with the Sensex breaching the 30,000 point mark for the first time in its history.The Nifty was also a life timehigh as markets cheered the RBI's decision to cut monetary rates,...

Banks Board Bureau to be set up in four months: Finmin

Mar 03, 2015 at 19:29 | Source: FirstPost

New Delhi: The government will soon set up an autonomous Banks Board Bureau (BBB), a super authority for public sector utility lenders to recommend board level appointments and advise on strategies for raising funds as well as mergers and acquisition...

Arundhati Bhattacharya among Forbes Asia's 50 `power businesswomen'

Feb 27, 2015 at 18:04 | Source: FirstPost

Forbes Asia has named Arundhati Bhattacharya, Chairman, State Bank of India, in its annual 50 power businesswomen list. The much coveted list appeared in the magazine's March 2015 special issue.Arundhati Bhattacharya is referred to as 'the first lady...

SBI taking over Kingfisher House shows public banks are finally taking on influential defaulters

Feb 25, 2015 at 11:20 | Source: FirstPost

The rising pile of sticky assets on their balance sheets havebegun to push Indias state-run bankers to go for the kill on wily and crony promoters.This became evident when the country's largest lender, State Bank of India (SBI) on Tuesday took contro...

Private sector to cut capex by 4%, govt will have to create a war chest to revive economy

Feb 25, 2015 at 09:58 | Source: FirstPost

It is becoming clearer that the government will have to create a war chest to increase its spending to boost the slow-riding investment cycle. And, for this, the government will have to relax its fiscal deficit target.Giving credence to the argument ...

SBI seizing Kingfisher house shows Public banks are finally taking on influential defaulters

Feb 25, 2015 at 08:19 | Source: FirstPost

The rising pile of sticky assets on their balance sheets havebegun to push Indias state-run bankers to go for the kill on wily and crony promoters.This became evident when the country's largest lender, State Bank of India (SBI) on Tuesday took contro...

SBI seizing Kingfisher House shows public banks are finally taking on influential defaulters

Feb 25, 2015 at 08:19 | Source: FirstPost

The rising pile of sticky assets on their balance sheets havebegun to push Indias state-run bankers to go for the kill on wily and crony promoters.This became evident when the country's largest lender, State Bank of India (SBI) on Tuesday took contro...

Sensex rises for the 7th day, gains 142 points as metal stocks shine in trade

Feb 19, 2015 at 17:23 | Source: FirstPost

Mumbai: The benchmark Sensex rose 142 points, extending its winning run to the seventh day, buoyed by gains in HDFC, Infosys and L&T as well as fag-end buying in metal shares after some firms won mines in coal block auction.Growing expectations o...

Mine auction rules to be finalised by May, says Minister Tomar

Feb 19, 2015 at 16:20 | Source: FirstPost

New Delhi: The rules and regulations for the auction of major minerals like iron ore and manganese ore will be finalised by May this year, Mines and Steel Minister Narendra Singh Tomar said."The rules and papers for mines auction will be readied...

EPFO to appoint fund managers tomorrow, may raise pension age to 60

Feb 18, 2015 at 19:16 | Source: FirstPost

New Delhi: Retirement fund body EPFO is likely to appoint fund managers tomorrow for a three year term from 1 April and raise age limit for vesting of pension by two years to 60.Both the proposals will be taken up for discussion and approval by the E...

Exclusive: SBI set to take possession of Mallyas Kingfisher House in Mumbai

Feb 18, 2015 at 09:58 | Source: FirstPost

State Bank of India (SBI), the countrys largest lender by assets, is set to take possession of Kingfisher House, one of the prime real estate properties of the group, intensifying its battle against Vijay Mallyas Kingfisher Airlines to recover its lo...

NTPC to invest $10 bn for building renewable projects over next 5 years

Feb 17, 2015 at 12:55 | Source: FirstPost

New Delhi: Country's largest power producer NTPC will invest close to $10 billion for executing green energy projects in the next five years as part of government's plans to provide thrust to clean electricity generation.The public sector company has...

SBI commits Rs 75,000 cr for financing clean energy generation

Feb 15, 2015 at 20:48 | Source: FirstPost

New Delhi: Country's largest lender State Bank of India today committed Rs 75,000 crore for generation of 15,000 MW of renewable energy in the next five years. "SBI has committed to provide Rs 75,000 crore over a period of five years for the ren...

PM Modi seeks innovation in renewable energy sector to make it affordable

Feb 15, 2015 at 20:43 | Source: FirstPost

New Delhi: To bridge the energy deficit, Prime Minister Narendra Modi today made a strong pitch for making renewable sources like solar and wind power affordable, even as he asserted that this green energy push was not to impress the world.He also sa...

Land, finance key to India renewables drive - First Solar CEO

Feb 15, 2015 at 17:30 | Source: FirstPost

NEW DELHI (Reuters) - India will struggle to hit its "hugely ambitious" renewable energy target if it fails to make more land available for plants and ensure utilities have the means to buy in clean energy, the head of U.S.-based First Sola...

Sensex gains 1 pct; SBI surges on stable asset quality

Feb 14, 2015 at 02:15 | Source: FirstPost

MUMBAI (Reuters) - The BSE Sensex and Nifty rose for a fourth consecutive day on Friday, as State Bank of India surged after bad loans rose only slightly in the previous quarter, with sentiment also underpinned by stable consumer inflation data and s...

Rising trend: Sensex above 29K, Nifty regains 8,800 mark on SBI earnings

Feb 13, 2015 at 19:42 | Source: FirstPost

Mumbai: Domestic markets rose for the fourth straight session with the benchmark Sensex today closing above 29,000-mark for the first time since 3 February while the Nifty reclaimed 8,800-level as bluechips led by banking rallied after robust SBI ear...

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