The government has invited applications for transaction advisor and legal advisor for the strategic sale of government’s stake in Hindustan Petroleum Corporation Limited.
Government is looking at merging some of the 21 public sector banks to create 10-12 banks in the medium term. As part of a three-tier structure, it plans to build at least 3-4 banks of the size of SBI.
Both tax consultancy firms BMR and Deloitte refused to comment on the proposed merger.
Axis Bank’s gross bad loans have jumped the steepest in the industry by over 350 percent in the last five quarters.
In case you missed it, here's all that happened in the banking sector in the week gone by.
Snapdeal's largest investor, SoftBank has been proactively mediating the sale for the past few months.
Flipkart was reported to be looking to buy Snapdeal for a much lower valuation of USD 400, than USD 1 billion that has so far been touted.
In an interview to CNBC-TV18, Prayesh Jain, AVP-Research at IIFL spoke about Reliance Industries at length.
In an interview to CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank spoke briefly about the finance ministry report on bank mergers.
Airtel further stated that Telenor and Airtel have filed on Thursday the joint company application before the New Delhi Bench of National Company Law Tribunal (NCLT) for the approval of the proposed scheme of merger.
A preliminary inquiry was registered to probe the merger of Indian Airlines and Air India, leading to a loss of crores of Rupees.
With more employees joining its fold after the merger with its subsidiaries, State Bank of India (SBI), country’s largest bank, has planned to reduce hiring in this financial year.
From interest rate reduction on home loans to being charged for ATM withdrawal for wallet and no-frills account users to capital raising and merger talk of banks and some smaller public sector bank results where bad loans continued to grow, all happened in the second week of May.
In an interview to CNBC-TV18, Rakesh Arora, Managing Partner at Go India Advisors said that ACC-Ambuja Cements merger is positive for shareholders.
Bahl on Sunday confirmed in an email to employees that the investors of the company are driving the decision on the way forward, indicating that the founders had little control over immediate developments
At the side-lines of CNBC-TV18 Global Natural Resources Conclave in Delhi, Varinder Bansal caught up with DK Sarraf, CMD of Oil and Natural Gas Corporation (ONGC) and began by asking him about investment and merger plans.
Veteran banker and NDB President K V Kamath has described the merger of SBI's associate banks with the parent a "good first step", saying there is scope for further consolidation as large banks are needed to cater to the growing economy.
State Bank of India (SBI) will enter the list of top '50 Global Banks' with an asset size of Rs 41 lakh crore after the merger with the associate banks and Bharatiya Mahila Bank.
In an interview to CNBC-TV18, Dinesh Khara, MD- Subsidiaries at State Bank of India (SBI) spoke about the merger and operational plans henceforth.
"SBI has sought three-month time from RBI for merger. It should be done by that timeframe," SBI Managing Director (national banking group) Rajnish Kumar said here.
Cairn India and Vedanta Ltd have received all regulatory approvals for their merger, except the Reserve Bank of India's nod for issue of preference shares, the two companies said today.
Snapdeal's investor Softbank is keen to have the struggling e-tailer merge with Flipkart in a move that will result in a significant consolidation benefitting an industry struggling with losses and tough competition.
Maintain 15 percent revenue growth guidance for FY17, says Rajeev Gupta, ED-Finance & CFO at KEI Industries