In an update on the outcome of the board meeting held on July 10 about 'Capital Raising Plan for 2020-21', Canara Bank said the board has approved raising equity share capital amounting up to Rs 5,000 crore through various means.
Pune-headquartered Bank of Maharashtra (BoM) has reduced one-year MCLR to 7.50 percent from 7.70 percent.
The Golden Crossover setup is believed to be one of the most reliable tool & popular among traders community.
Dolat Capital recommended Reduce rating on Canara Bank with a target price of Rs 108 in its research report dated June 25, 2020.
Net interest income of Canara Bank declined 5.2 percent year-on-year to Rs 3,318.52 crore in Q4FY20.
Lower net interest income, pre-provision operating profit and elevated provisions affected the bank's performance.
According to ICICI Direct, The banking space has taken the lead in the recent up move of the market while stocks from consumption and technology have taken a back seat.
People are pledging their household gold to raise cash
The Canara Credit Support is extended as a quick and hassle-free loan to overcome temporary liquidity mismatches for payment of statutory dues, salary/wages/electricity bill, rent etc., the bank said in a statement.
Merged PSU bank stakes in insurance companies have to be reduced to below 10 percent to avoid violation of rules. IRDAI laws say that one bank cannot be a promoter in multiple insurance companies.
The public sector lender has reduced interest rate by 35 basis points under one year tenor, 30 basis points under six months tenor, 20 basis points under three months tenor and 15 basis points under overnight and one month tenors.
The Reserve Bank of India (RBI) on March 27 said all financial institutions can provide a three-month deferment on payments of instalments for all term loans that were outstanding as on March 1
The unsecured rated listed subordinated non-convertible fully paid up taxable redeemable bonds bearing coupon of 7.18 percent were given to 20 allottees on March 11, 2020, the bank said.
"RA Sankara Narayanan, Managing Director & CEO of the Bank has retired from the services of the Bank on 31st January 2020, on his attaining the age of superannuation," Canara Bank said in a filing to BSE.
Its total income stood at Rs 14,001.63 crore during the quarter ended December 2019, up from Rs 13,513.35 crore in the year-ago period, Canara Bank said in a stock exchange filing.
Chadha, who was the deputy managing director at SBI, will take step into the shoes of PS Jayakumar, whose term ended in October 2019.
The divestment process was under progress since September last year.
The central government has proposed to infuse capital worth Rs 6,571 crore in the lender against allotment of equity on preferential basis in favour of it.
After breaking out from the bullish cup and handle pattern by surpassing 11,700 resistance, the Nifty50 moved higher gradually. The upside target for Nifty is seen at 12,300 for the short-term.
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 11 points loss at 12,001 levels
The Supreme Court said distribution of bid amount of Rs 42,000 crore will take place as per October 23 plan.
The selection was done by the BBB based on an interview held on November 12.
Asset quality of the bank improved a bit with gross non-performing assets (NPA) as a percentage of gross advances falling 9bps QoQ to 8.68 percent.