It is the right time to consider a holding company for Indian public sector banks to manage the country's fraud-hit and cash-strapped financial industry, Mundra said.
SBI Chairman Rajnish Kumar said he expects PNB to clear the bank's USD 212 million (Rs 1,360 crore) dues in the Nirav Modi case.
Recently, SBI reported an unexpected dip into the red. It’s a poor start to the tenure of new Chairman Rajnish Kumar, but he has a good idea of where the bank is headed.
India Inc welcomed the Reserve Bank of India decision to keep its key lending rate unchanged at 6 per cent, stating that it was "on expected lines".
Rajnish Kumar said the telecom deal involving acquisition of wireless assets of RCom by RJio is a "good and welcome development" that fully protects lenders' interest.
RCOM announced it was selling its wireless assets to Reliance Jio, SBI Chairman Rajnish Kumar termed it a good development and would hopefully set an example.
SBI will unveil the country's first integrated lifestyle and banking digital platform on Friday to be launched here by Finance Minister Arun Jaitley.
Kumar has welcomed the first sovereign ratings upgrade by Moody's in 13 years as a positive measure that will make foreign funds cheaper.
Rajnish Kumar said that there is limited space for further easing of the lending rate.
The State Bank of India (SBI) has deployed Microsoft Office 365 to improve communication and collaboration among its workforce.
Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively
To add platform capabilities in the insurance segment which contributes 15% of total business
The Acquisition is expected to close within the next 3 months
Sells Essar Steel loan to Deutsche Bank
Has sold its $385 mn Foreign currency loan extended to Essar Steel
Bank has taken a 38% haircut
Rs 1600 cr is expected earnings to the bank from the deal
Economic Times Reports
To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn
The co is also in discussions to sell its residential and commercial projects in Chennai
To convene shareholder’s meet on 23rd March in regard to the proposed divestment
Gets Order Worth Rs 230 Cr From NTPC
To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators
Will help NTPC commission the 3x 660MW plant started 12years
Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI
The completion period for the project is 30 months