On January 2, Syndicate Bank had said it would raise up to Rs 500 crore by issuing shares to its employees under the employee stock purchase scheme.
The company has negligible market share in the 24-player industry dominated by the national insurer LIC.
Top Indian companies have been reluctant to announce new projects over the past few years due to low capacity utilisation
The bank proposes to raise capital through issuance of shares worth up to Rs 600 crore in one or more tranches to its employees under Employee Share Purchase Scheme (ESPS), it said.
Midcap and smallcap indices gained 7.3 percent and 6.3 percent, respectively.
Goel takes over from R K Takkar who completed his three-year tenure on November 1, 2018.
"The board of directors of the bank... has approved raising of equity capital, in one or more tranches, for an amount not exceeding Rs 3,000 crore by way of preferential allotment of equity shares," it said in a regulatory filing.
Earlier this month, SBI said they have room to buy a total of Rs 45,000 crore, from Rs 20,000- Rs 30,000 crore more than the initial estimate of buying Rs 15,000 crore worth of portfolios
Slippages dropped to Rs 2,667 crore in September quarter against Rs 4,652 crore in June quarter, Union Bank said, adding write-offs increased to Rs 1,868 crore against Rs 1,426 crore QoQ.
The bank is demanding Modi – who owns a chain of jewellery shops from Hong Kong to New York -- pay more than USD 5.49 million plus interest, after both firms allegedly defaulted on repayments, the report said.
The case, which was being probed by the Mumbai Police, pertains to transfer of about Rs 1,200 crore from the Nostro account of the bank to various countries on July 20, 2016, they said.
RBI had issued a show cause notice to the bank on January 15, 2018 asking why a penalty not be imposed on Union Bank of India under the Act.
The total exposure of the bank in the power sector is about Rs 6,000 crore, the official said, adding that Rs 2,000 crore recovery is expected from resolution soon.
GTL Infra, after Chennai Network Infrastructure (CNIL) was merged with it, had a debt of Rs 13,318 crore, which stood at Rs 10,000 crore in April 2017.
Union Bank of India's provisions and contingencies fell sharply by 60.7 percent sequentially to Rs 2,229 crore, but increased 30.8 percent YoY in Q1.
"This partnership would bring synergy for strong capital base, future business growth and efficient corporate governance," the bank said in a statement today.
Provision for bad loans jumped nearly 275 percent to Rs 5,639 crore.
The market breadth was in favour of the declines with 526 stocks advancing while 1207 declined and 293 remained unchanged. On the other hand, in the BSE, 862 stocks advanced and 1751 declined and 186 remained unchanged.
The CBI has booked a Hyderabad-based construction and infrastructure company for allegedly defrauding a consortium of eight banks to the tune of over Rs 1,394 crore, officials said yesterday.
Ashwani Gujral of ashwanigujral.com recommends buying ICICI Bank, Axis Bank, Union Bank of India and Future Consumer.
The Nifty PSU banking index jumped 3.66 percent led by Bank of India which zoomed over 9 percent intraday on the back of recovery of Rs 7,000 crore from other banks. Punjab National Bank was up 4.3 percent while Andhra Bank zoomed over 5 percent.
The list includes international branches of Indian banks and some foreign banks.
Companies belonging to Modi and his uncle Mehul Choksi, who heads the Gitanjali group, have been accused by Punjab National Bank of defrauding the bank of over $2 billion. The bank alleges firms controlled by the duo colluded with rogue PNB staff to secure fraudulent guarantees that were used to raise credit from overseas branches of Indian banks.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy NCC and IndusInd Bank and can sell Reliance Communications.