Home Business ‘Close Accounts With SBI, PNB’, Orders Karnataka Govt; Lenders Try To Find ‘Resolution’ As Karnataka government asked its officials to close all its account with State Bank of India & the Punjab National Bank % also withdraw all deposits, lenders are in talks with state for further solution. The Karnataka government has ordered … Read more
Bengaluru: Karnataka government Thursday said it is actively engaging with public sector lenders, State Bank of India (SBI) and Punjab National Bank (PNB), to try and resolve long-pending disputes over public money lost to fraud. This came within 24 hours of the state ordering closure of its accounts in the two banks after it accused … 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
The Rs 6.76 lakh crore blockbuster rally in PSU bank stocks, which gave 7 multibaggers in last one year, is now staring at a turning point as the Sebi deadline to meet 25% minimum public shareholding (MPS) rule ends this August. Besides improvement in fundamentals such as sharp earnings growth and the turnaround in asset … Read more
MUMBAI – Private banks, which have always been the favourites of institutional investors, lost the spot to public sector banks who are touching the sky riding on retail bulls. So far in 2024, all public sector banks have given double-digit returns to investors. On the contrary, private sector banks have seen single to double-digit fall … 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
Mumbai: The gap in weightage between Indian and Chinese equities on the MSCI index is narrowing with several global investors preferring shares on Dalal Street over those in Shanghai. Since January 2021, India’s weight in the MSCI Standard Index has more than doubled from 8.9% to 18.2%, whereas China’s weight has declined from 40.1% to … Read more
Bank loan interest rates February 2024: Several banks have changed their loan interest rates in February 2024. Below is a compilation of banks that have updated their loan interest rates during this month.Latest Canara Bank lending rates According to an ET report, the bank has raised its MCLR (Marginal Cost of Lending Rate) by 5 … Read more
India on MSCI Global Standard index: India’s weightage on the MSCI Global Standard (Emerging Markets) index has hit a record high, reaching 18.2% in the latest February review by MSCI. This increase marks a significant nearly double rise since November 2020. This change will be effective after the market closes on February 29.According to a … Read more
MSCI announced an increase in India’s representation in its Global Standard index to a record 18.2% on Tuesday, anticipated to bring about $1.2 billion in inflows, as per analysts’ estimates.Following MSCI’s February evaluation, this adjustment is set to take effect post the market’s closure on February 29, a Reuters report said.Since November 2020, India’s position … Read more