The government aims to garner Rs 90,000 crore from the listing of LIC and stake dilution in IDBI Bank out of total the disinvestment target of Rs 2.10 lakh crore during the current fiscal.
The voting on the NBCC bid began at noon on May 31 and is expected to continue for ten days until June 10.
The NBCC bid is likely to be discussed at the May 9 meeting, sources told Moneycontrol.
It is interesting to note that RBI’s capital has remained unchanged, but its reserves have changed significantly over the years
"Last fiscal, the growth was 15 percent. We are expecting a growth between 12 percent and 18 percent this fiscal," CEO and whole-time director of IDBI Federal Life, Vighnesh Shahane, told PTI.
A bench of Chief Justice Rajendra Menon and Justice V K Rao said the single judge had considered all aspects before denying any relief to the All India IDBI Officers Association, which had opposed the Life Insurance Corporation (LIC) move on the ground that change in shareholding could take away IDBI's public sector bank status.
Additional Solicitor General Tushar Mehta, appearing for LIC, had also said it has applied for a banking licence.
A filing with the BSE stated that another lender of the company IFCI Limited, had also filed the similar application in November 2017.
LIC will own 51 percent in IDBI Bank after the deal and will be the bank's largest shareholder
If money parked in the account is in excess of the EMI amount, it is treated as pre-payment towards the loan. This effectively brings down the liability, and interest is charged only on the balance.
"Both IDBI Bank and LIC are independent organisations. We have left all the decisions to bank boards and we are not going to micromanage them," a senior finance ministry official told reporters on the sidelines of the two-day annual summit of the Asian Infrastructure Investment Bank.
B Sriram Managing Director of SBI appointed as the MD and CEO of IDBI Bank for a temporary period of three months. The previous CEO of IDBI Mahesh Kumar Jain was recently named Deputy Governor of the Reserve Bank of India (RBI).
The bank had reported a net profit of Rs 55.52 crore for the July-September period of last fiscal, 2016-17.
The visiting officials of the two central probe agencies will also submit the charge-sheet filed by the Enforcement Directorate in the case last month in Mumbai, said a senior official in the Mallya probe team.
The court last week also allowed the agency's request for issuance of Letter Rogatory to the UK to assist it in the probe.
ED has filed its first chargesheet against Vijay Mallya and 8 others, including IDBI Bank officials for alleged money laundering in the IDBI-KFA bank loan case.
In a meeting with the banking regulator on Tuesday, top bank heads suggested that RBI must permit sustainable loans even below 50 percent under the S4A (Scheme for sustainable structuring of stressed assets).
One such company is Bharati Shipyard, where lenders plan to use the bankruptcy code and file a case with National Companies Law Tribunal (NCLT), according to sources. They may appoint E&Y as resolution professional.
Rating agency Icra on Friday downgraded various debt instruments of IDBI Bank owing to a significant erosion of it's common equity tier I (CET 1), following weak financial performance of the bank in the quarter ended December.
Government sources have told CNBC-TV18 that the government is rework its consolidation strategy and will not merge weak PSBs with bigger public banks.
The company has received a letter of appointment from NHAI for the contract which stretches from Fetri village to Dhargaon (Package II) with a total length of 28.05 km, MEP said in a statement issued here.
Reserve Bank of India (RBI) has tightened the rules for bank's lending to large corporate entities. The rule is applicable from April 1, 2019.
Dr.Reddy's Redibike, as the programme would be known, opens with a fleet of 400 "robust and easy to ride" cycles that are available at 10 stations, the company said in a statement.
Benchmark indices remained rangebound in noon trade with the Nifty hovering around 8675 level as investors awaited September quarter earnings.
The Enforcement Directorate is expected to initiate a fresh action of attachment of assets against liquor baronï¿½Vijay Mallyaï¿½who today skipped appearance before a PMLA court here in connection with a money laundering probe against him in an alleged bank loan fraud case.