Home Business Bank Fees: Here’s What You PAY For Not Maintaining Minimum Balance The term Average Minimum Balance or AMB signifies the smallest amount you need to keep in your savings account to avoid being charged with non-maintenance fees. Published: August 17, 2024 6:19 PM IST By Joy Pillai Bank Fees: Here’s What You PAY … Read more
Ace investor late Rakesh Jhunjhunwala, often referred to as the Big Bull of Indian stock markets, passed away 2 years ago on this day and as investors remember him today on his second death anniversary, his investment philosophy will continue to inspire them. Jhunjhunwala died at the age of 62 in 2022 because of kidney … Read more
BENGALURU: Eleven years after a 43-year-old woman was murdered and her husband wrongly arrested for the crime before being released for lack of evidence, three men, including a former manager of Canara Bank, have been arrested for gang-raping and killing her.Prime accused and former bank manager Narasimha Murthy (65), his associates Deepak C (38) and … Read more
The government-backed National Asset Reconstruction Company (NARCL) is declared the winning bidder for a majority debt of Wind World (India) following an uncontested Swiss challenge auction held by lenders on Monday, said people with knowledge of the matter. NARCL gave a binding offer of Rs 670 crore to acquire Rs 3763 crore debt from lenders, … Read more
Indian market is likely to consolidate on Wednesday tracking mixed global cues. The Nifty future closed negative with losses of 0.28% at 22436 levels on Tuesday. India VIX was down by 3.64% from 14.92 to 14.38 levels. “In the last few months, we have witnessed India VIX trading in a band between 14 and 17, … Read more
Home Business RBI Imposes Rs 2 Crore Fine On SBI, Rs 32 Lakh On Canara Bank In the case of SBI, the RBI said that a statutory inspection was conducted about its financial position as of March 31, 2022. RBI Fines SBI RBI slapped penalties on SBI, Canara Bank, City Union Bank, and Ocean Capital … Read more
MUMBAI: RBI has penalised three major lenders – SBI, Canara Bank, and City Union Bank – for violating RBI norms. These fines come after an inspection of their books as of March 2022.SBI has been fined Rs 2 crore for holding shares exceeding 30% of certain companies’ paid-up share capital, violating RBI regulations, and for … Read more
NEW DELHI: The Reserve Bank of India (RBI) has imposed a monetary penalty on the State Bank of India (SBI) Rs 2 crore under the relevant section of the Banking Regulation Act. According to a statement, this action was taken due to shortcomings in regulatory compliance and does not signify a judgment on the legality … Read more
Certain PSU stocks, such as BEL, NCC, NBCC, and IRCTC, appear attractive at current levels, says Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. “However, other PSU stocks may require a correction of 5-10% for an ideal buying opportunity. Investors are advised to consider adding more of the mentioned stocks during any dips,” … Read more
Several asset reconstruction companies including global fund JC Flowers ARC and Varde Partners-backed Aditya Birla ARC are participating in the Swiss auctions that lenders have initiated for three road projects – Pink City Expressway, Haridwar Highways Project, and Rohtak Hissar Tollway – and Metenere, a manufacturer of recycled non-ferrous products. Kotak Mahindra Bank-sponsored Phoenix ARC, … Read more