Asked about the advantages of the rate offering -- which is even higher than the benchmark yield -- Shome said it introduces the bank to newer customers and the relationship so established can be utilised for selling other products.
However, credit or loan growth will continue to moderate and banks will set aside higher provisions towards bad loans during the quarter. These factors could dent profitability for some banks.
AB Fashion, Voltas and Welspun India are among a few stocks that investors are focusing on Monday.
The scramble for bonds came after some traders on Friday shorted the 6.97 percent bond due in 2026 and needed to secure the bonds on Monday to settle their trades.
The private bank allotted 3.27 crore shares at a price of Rs 1,500 per share.
Last week, in order to facilitate government receipt and payment functions, the RBI had advised all agency Banks -- public sector and three top private banks -- to keep all their branches dealing with government business open on all days in the current financial year and on April 1, 2017 (including Saturday, Sunday and all holidays), i.e. from March 25 and April 1.
A finance department spokesman today said Finance Minister Rajesh Agarwal has already started deliberations with senior officials of his department for fulfilling this promise at the earliest.
With another strong US jobs report in the books, the Fed is widely expected to raise overnight interest rates on Wednesday, and is now seen delivering three rate hikes in 2017.
In a u-turn to Thursday‘s decision, e-wallet company Paytm rolled back its 2 percent charge on credit card transactions used for recharging the wallet.
Research firm feels that power stress has not turned into an NPA yet, but it is well factored into non-NPA stress books of its covered corporate banks.
Attacking Prime Minister Narendra Modi for his cashless push to the economy post-demonetisation, AICC chief spokesperson Randeep Surjewala said the true mask of Digital India is coming off as government is not intervening to stop banks from imposing heavy charges on use of ATMs and debit and credit cards.
Takehiro Sato and Takahide Kiuchi have been thorns in Kuroda's side since he launched his radical monetary experiment in 2013, consistently warning of the demerits of the BOJ's huge asset purchases and dissenting to many proposals to ramp up stimulus.
"When we found out that 86 percent of the currency had been demonetized, â€¦ the sheer size of the task was intimidating. On top of that, remember we had no arrangements ahead of time," Arundhati Bhattacharya, chairwoman of the State Bank of India (SBI), told CNBC's "Managing Asia."
For India's cash-reliant economy, Prime Minister Narendra Modi's decision in November to outlaw old 500 and 1,000 rupee banknotes came as a big shock.
The high court said that Kejriwal's plea, which also sought the bank statements of Jaitley's family members and companies in which he or they had over 10 percent shareholding, was a "fishing or roving enquiry" and did not have any merit.
The agency said, the attached assets worth over Rs 79.76 crore of Devas Multimedia Private Limited, Bengaluru, are in the "form of upfront capacity reservation fee available with ISRO as well as in the form of mutual fund and bank deposits."
The Manila-based bank's report covering 45 countries says despite dramatic growth in infrastructure development that has spurred an economic rise, reduced poverty and improved people's lives, a substantial infrastructure gap remains.
After its associate banks are merged into the State Bank of India (SBI), about 200,000 jobs could be cut, said CH Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA).
RBS, which has not made an annual profit since 2007, booked 6.96 billion pounds (USD8.74 billion) of losses for 2016, against a 1.98 billion pound loss in the same period a year earlier.
Srikanth Vadlamani of Moody's Investors Service says broader credit growth will be lower in Q4 than before demonetisation levels.
UK Financial Investments, which manages the government's stake in the lender, said in a statement it has reduced its stake in the bank to 3.567 percent.
The initiative is expected to help rural areas embrace cashless transactions. The loans are cashless since they are deposited directly to the loanee's bank account.
Banks in India have record stressed loans of USD 133 billion, or 12.34 percent of their total loans, as of last September, and economists say dealing with them has become imperative given the load is constraining lending and delaying much needed private investment.