The BSE Sensex rose 0.57 percent on Friday to its highest close in six weeks, as appetite was bolstered by strong results from software services exporter Wipro (WIPR.NS) and the country's No. 3 private lender Axis Bank (AXBK.NS).
The very honest Saha contacted the local State Bank of India office to notify them of their apparent error.
Indian lenders may have to downgrade their loans to loss-making state-run Air India after they deferred a long-pending debt restructuring proposal, seeking a revision and making it tougher for the carrier to raise funds, three sources said.
State Bank of India, the country's largest lender, expects the government to inject capital any time, although it is yet to get a formal commitment on the amount, a senior official said on Friday.
Lenders to cash-strapped Kingfisher Airlines, which has been grounding planes and cutting routes to stay aloft, are awaiting a report on the airline's viability before they approve a $133 million loan, banking sources said on Monday.
India gold prices are likely to fall more than 3.5 percent from its peak after a 16 percent rally last quarter as investors resort to year-end profit-taking while tepid wedding demand weighed, a Reuters poll of banks and brokerages found.
India gold prices are likely to fall more than 3.5 percent from its peak after a 16 percent rally last quarter as investors resort to year-end profit-taking while tepid wedding demand weighed.
The board of cash-strapped Kingfisher Airlines will consider on Monday a proposal to cut its about $1.3 billion debt by more than half.
The Bharatiya Janata Party is opposed to any move by the government to bail out debt-ridden Kingfisher Airlines that cancelled flights to minimize losses.
Moody's Investor Service on Wednesday downgraded its outlook for India's banking system to negative from stable.
State Bank of India, the country's top lender, beat estimates with a 12.4 percent rise in quarterly net profit but a rise in non-performing assets disappointed investors.
A bank officers' body has served a notice to State Bank of India for a two-day nationwide strike, which could hit customer service at its branches on Tuesday and Wednesday, the bank said in a notice in the Economic Times newspaper.
Kingfisher Airlines on Wednesday sought further cushion from banks to ease its debt burden, but denied it was seeking another debt restructuring.
State Bank of India, the country's biggest lender, expects its average funding cost for savings bank accounts to rise 100-125 basis points.
The BSE Sensex rose as much as 1.9 percent on Monday, with index heavyweight Reliance Industries and banking stocks leading the gains, as investors grew optimistic about renewed efforts by European leaders to limit the region's debt crisis.
The BSE Sensex fell more than 1.5 percent on Tuesday, dragged down by IT stocks after Tata Consultancy Services reported lower-than-expected quarterly earnings and said the outlook for pricing was tough.
The BSE Sensex pulled higher on Friday after a sluggish start as investors awaited monthly inflation, which would set the tone for the RBI's monetary stance.
State Bank Of India does not expect overseas borrowing costs to rise significantly but sees medium-term note borrowing costs rising 1-2 basis points, its chairman said on Wednesday, a day after Moody's cut its rating and sent its shares skidding.
Debt-strapped Kingfisher Airlines plans to exit its low-cost business in the next four months and focus on the premium model, Chairman Vijay Mallya said, breaking with rival carriers which are mostly betting on the budget space.
Unearthing treasures has long been an obsession of archaeologists -- and one treasure hunt has led Indian officials to unearth treasures worth $23 billion from underground chambers in the centuries-old Sree Padmanabhaswamy temple in Kerala.
Government officials in India have unearthed treasure worth more than $23 billion from secret underground chambers in the centuries-old Sree Padmanabhaswamy temple located in Thiruvananthapuram, the capital city of the South Indian state of Kerala.
State Bank of India, the country's largest lender, is expected to launch the first tranche of its 100 billion rupees ($2.2 billion) retail bond issue on Monday, according to a term sheet obtained by Reuters and a source with direct knowledge of the matter.
