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PSB merger: Insurance companies to see stake changes over next one year 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 little-known story of once-private Syndicate Bank, which started with a 25-paise deposit Syndicate Bank is an important milestone in India's evolution because it shows that when entrepreneurs are allowed to become wealth generators, everyone benefits.
As curtains fall on six PSU banks, old-timers walk down the memory lane with a mix of nostalgia and grief As six Indian public sector banks (PSBs), some of which have been in existence for over a century, ceased to exist on April 1 after their amalgamation with bigger PSBs, old timers are looking back at the halcyon days of these institutions wistfully.
Stocks in the news: Stocks in the news: SBI, IDBI Bank, Tata Power, Graphite, Lupin, Godawari Power, Sun Pharma Sun Pharma | SBI | Abott India | HeidelbergCement India | Sobha and aviation stocks are in the news today.
Coronavirus pandemic | PSB-merger interrupted, advisories against large gatherings: Report The banks have either put on hold or held online sessions for some planned gatherings, such as employee training and customer interface programmes.
Stocks in the news: Yes Bank, M&M, JSW Steel, Syndicate Bank, Pidilite, Lupin Mahindra & Mahindra | JSW Steel | Yes Bank | Pidilite | Lupin and Syndicate Bank are among the stocks that are in the news today.
Trade Setup for Friday: Top 15 things to know before Opening Bell The key support level for Nifty is placed at 11,212.57, followed by 11,156.13. If the index moves up, key resistance levels to watch out for are 11,357.47 and 11,445.93.
Dept of Economic Affairs working on regulatory clearances needed for cos to list abroad For tapping foreign investors, Indian firms take the American Depository Receipt (ADR) or the GDR route.
Syndicate Bank Q3 profit zooms to Rs 435 cr Total income during the quarter increased to Rs 6,316.57 crore from Rs 6,077.62 crore in the same period of 2018-19, Syndicate Bank said in a regulatory filing.
Cabinet may approve merger of 10 state-run banks into 4 today The government had announced the proposal to merge the state-run lenders on August 30, 2019.
IRDAI issues guidelines to protect interest of policyholders of merged banks IRDAI said the guidelines have been issued in order to protect the interests of the group insurance policyholders of the merged banks.
Syndicate Bank surpasses Rs 5 lakh crore business mark The bank achieved this milestone on the back of every business unit contributing in its full capacity which included retail, MSME and priority sector, the lender said in a statement.
RBI imposes Rs 1 cr fine on LVB, Rs 75 lakh on Syndicate Bank for violating norms In a similarly worded release, it said a monetary penalty of Rs 75 lakh has been imposed on Syndicate Bank for non-compliance with the directions issued by RBI on frauds classification and reporting; innovative housing loan products wherein upfront disbursal of loans is done.
Stocks in the news: Cipla, Reliance Capital, Glenmark Pharma, Lakshmi Vilas Bank, Voltas Reliance Capital | Kajaria Ceramics | Glenmark Pharma | Lakshmi Vilas Bank | Syndicate Bank and Voltas are among stocks which are in news today.
Stocks in the news: Reliance Capital, Kajaria Ceramics, Glenmark Pharma, Lakshmi Vilas Bank, Syndicate Bank, Voltas Reliance Capital | Kajaria Ceramics | Glenmark Pharma | Lakshmi Vilas Bank | Syndicate Bank and Voltas are among stocks which are in news today.
Trade Setup for Monday: Top 15 things to know before Opening Bell Foreign institutional investors (FIIs) sold shares worth Rs 213.6 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 458.68 crore in the Indian equity market on September 27.
Syndicate Bank gains 4% on 'positive' rating from S&P The share touched its 52-week high Rs 46.60 and 52-week low Rs 29.10 on 02 April, 2019 and 23 August, 2019, respectively.
Banking wrap: RBI issues draft norms for SFB licensing; govt asks lenders to use NCLT as last resort Weekly wrap: RBI's new loan pricing norm may put banks in a fix, NBFCs' outlook remains grim and a checklist for customers of merging PSBs
Explained: Here's a checklist to track if your bank is getting merged Punjab National Bank, Union Bank of India, Canara Bank and Indian Bank are the anchor banks and customers of these banks will not be affected.
Stocks in the news: Bajaj Finance, Tech Mahindra, TCS, Ashok Leyland, Datamatics Global Orient Green Power Company | Bajaj Finance | Prabhat Dairy | Sundram Fasteners | TCS and Datamatics Global are stocks, which are in news today.
Bank mergers: Here is how the insurance JVs and policy holders will be impacted In cases where one bank promotes two insurers in same category post merger, the companies will either have to be merged or sold
After big bang PSU banks merger, what should investors do and which stocks to buy? Abhimanyu Sofat of IIFL Securities said merger of relatively better run Indian Bank with Allahabad Bank is disappointing.
Govt asks state-run bank heads to reform boards The department has directed banks to form risk management committees, and to combine their remuneration and nomination committees
Stocks in the news: Tata Motors, Maruti Suzuki, SPML Infra, PNB, Canara Bank Karnataka Bank | PNB | Divis Lab | JSW Steel | M&M and Coffee Day Enterprises are the stocks, which are in news today.
Policy Play | Will the PSU bank merger achieve its desired objective? The banks being merged have been losing deposit and credit market share and any improvement in the near term is unlikely
Bank mergers: The implications and what brought it about Merging weaker banks with stronger ones will erect a
protective ring for depositors and shareholders.
FM Nirmala Sitharaman's big announcement: Here's how bank boards will be empowered Sitharaman had also announced the merger of 10 public sector banks to form four new entities.
Canara Bank merger with Syndicate Bank to create 4th largest PSB The number of public sector banks will be 12, down from 27 in 2017 after this announcement.
PSU banks rally amid mega merger buzz; Syndicate, Allahabad, OBC gain 4-9% The Nifty PSU Bank index recovered 3.7 percent from day's low after this merger news and gained a percent at the time of publishing this article.
Asset quality woes may dampen investor appetite for public sector banks While Yes Bank fund raising may have helped in restoring confidence in the banking sector to some extent, the story may vary for other lenders, especially state-run banks.
Syndicate Bank expects Rs 4,000 cr from NPA recovery in FY20 The bank has recovered about Rs 800 crore in the first quarter and the target for the current fiscal is Rs 4,000 crore, Mahapatra said.
More PSU banks likely to cut rate in few days The reduction in the interest rate will help spur consumption as this will bring down EMIs for home, auto and corporate loans.
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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