Nifty dropped by 60.75 pts to end at 10,741.10 in a volatile session as uncertainties around govt formation in Karnataka and growing geopolitical tensions in Korean peninsula hurt investor sentiment.
Making a case for more concrete steps to strengthen internal control system in PSU banks, S&P Global Ratings said the banking sector could witness a turn around in FY20.
The govt will pitch for a sovereign rating upgrade with Fitch, highlighting reform push in taxation and PSU banks and its plans to gradually lower govt debt.
The govt's plan to recapitalise PSBs is likely to focus on supporting lending growth, with large lenders being the main beneficiaries, Fitch said.
Moody's said that it signals improved access to the equity capital markets and will reduce PSBs' dependence on fund infusion from the govt.
With the latest inflow, total infusion in MF schemes reached Rs 3.8 lakh cr in the first 8 months (Apr-Nov) of the current fiscal, Amfi data showed.
The employees of Canara Bank requested the Centre not to consider cross merger of smaller public sector banks having high NPAs.
Aviva is raising its exposure to the PSU banks as it bets the govt’s $32 bn plan to rescue lenders burdened with record bad loans will boost their prospects.
The finance ministry may infuse about Rs 70,000 crore through recapitalisation bonds in the NPA-hit public sector banks in the next four months.
The govt has constituted a ministerial panel headed by Arun Jaitley that will oversee merger proposals of state-owned banks.
Bags EPC packages of Purvanchal Expressway in Uttar pradesh of Rs 1738 Cr
Approved buyback of 29 Lk shares amounting Rs 200.2 Cr
Tamil Nadu Pollution Control Board ordered disconnection of electricity
Disconnection is applicable for copper smelter unit-I at Thoothukudi district
Order requires closure of unit with immediate effect
Thoothukudi copper smelter unit has not been operating since Mar 27
Launched Silver Options, Total Traded Contract Value at Rs 34.36 Cr
Option Positions are physically settled & are European Style Options
Enters into merger talks with NSE For Universal Exchange Framework: Business Standard Reports
R Damani sells 0.8% Stake at Rs 1360.2/Sh
Deal Value at Rs 643 Cr