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Sensex, Nifty slump for second week as Yes Bank woes drag financial stocks down

Markets

06 March, 2020

Sensex, Nifty slump for second week as Yes Bank woes drag financial stocks down

Indian stocks slumped on Friday with banks and non-bank companies dropping after the Reserve Bank of India’s decision to impose ......

Kotak stressed assets fund pulls Jindal Stainless out of debt rejig

Manufacturing

02 March, 2020

Kotak stressed assets fund pulls Jindal Stainless out of debt rejig

The distressed assets fund of Kotak Investment Advisors announced its debut deal with a Rs 500 crore ($69 million) investment ......

Grapevine: China Mobile in talks for India cloud network; Allahabad Bank to part-exit JV

General

10 January, 2020

Grapevine: China Mobile in talks for India cloud network; Allahabad Bank to part-exit JV

China Mobile, the Asian nation's largest mobile operator, has held early-stage talks with telecom service providers Bharti Airtel Ltd and ......

Why India's $86-bn bank rescue effort isn't enough to ease the distress

Finance

02 August, 2019

Why India's $86-bn bank rescue effort isn't enough to ease the distress

It may not be quite a bottomless pit but the Indian government’s repeated injections of funds into the nation’s state-owned ......

Allahabad Bank reports SEL Manufacturing's $100 mn fraud

Finance

18 July, 2019

Allahabad Bank reports SEL Manufacturing's $100 mn fraud

Allahabad Bank Ltd on Wednesday reported a 6.89 billion rupees ($100.1 million) fraud related to textile company SEL Manufacturing Ltd ......

Punjab & Sind Bank reports fraud in Bhushan Power account

Finance

17 July, 2019

Punjab & Sind Bank reports fraud in Bhushan Power account

India’s Punjab & Sind Bank (PSB) said on Wednesday it has reported a 2.38 billion rupee ($34.58 million) fraud to ......

Allahabad Bank reports $259 mn alleged fraud by Bhushan Power & Steel

Finance

15 July, 2019

Allahabad Bank reports $259 mn alleged fraud by Bhushan Power & Steel

India's Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker ......

PNB may take control of two-three smaller state-run banks

Finance

21 May, 2019

PNB may take control of two-three smaller state-run banks

India's Punjab National Bank could take control of two or three small state-run banks, that could include Oriental Bank Of ......

RBI lifts lending curbs on Allahabad Bank, two other lenders

Finance

27 February, 2019

RBI lifts lending curbs on Allahabad Bank, two other lenders

The Reserve Bank of India (RBI) lifted regulatory constraints on three banks on Tuesday after they received a capital injection ......

Government to inject $3.4 bn into state-run banks

General

19 July, 2016

Government to inject $3.4 bn into state-run banks

The government said on Tuesday it is infusing Rs 22,915 crore ($3.4 billion) in 13 state-run banks in the current ......