STATE BANK OF INDIA

Shares crash in India's on-the-brink Yes Bank

India's central bank moves to rescue major lender

A rat was responsible for chewing through thousands of dollars in an ATM inside a bank in Tinsukia, India.

Vijay Mallya, once known as the “King of Good Times,” mainly because of his lavish lifestyle, owes an estimated $1.3 billion to several banks in the country.

A court ruled Monday that lenders had a first right on the compensation due to be paid to Vijay Mallya by London's Diageo.

The BSE Sensex and Nifty fell over 3 percent, posting their biggest daily loss since the rupee crisis in 2013.

India's 175 million Muslims are unable to use Islamic banks because of laws requiring banks to charge interest, which is forbidden in Islam.

State-owned banks headed by women control 45 percent of all of India's public sector bank deposits and 50 percent of all loans.

About 70,000 bank branches – including The State Bank of India, the nation’s largest public sector bank – will be idle.

Bank employees in India began a two-day strike on Wednesday to protest against proposed reforms that would ease mergers and allow more private capital, including foreign investment, in the banking sector.

Finance minister urged state-run banks to increase lending for consumer durables on Saturday, saying this would help boost the manufacturing sector which has been caught up in the slowdown of the economy.

India's struggling private air carrier Kingfisher Airlines Saturday reported a 147 percent increase in its loss to 6.51 billion rupees for the quarter ending June 30, compared with a loss of 2.64 billion in the same period a year ago.

ICICI Bank(ICBK.NS), India's top private lender, posted on Friday a 36.3 percent jump in quarterly profit, its strongest growth in more than a year, helped by robust loan growth, high fee income and better asset quality.

Asian markets rose Thursday as investors were encouraged by healthy earnings reports from the U.S. companies which alleviated concerns of faltering business conditions.

The State Bank of India (SBI), the prime lender to the debt-stricken Indian private air carrier Kingfisher Airlines, said Tuesday that a full recovery of its loans might not happen immediately. The ailing airliner owes $1.4 billion in loans to 17 plus lenders, who have asked the company to infuse fresh capital.

A consortium of lenders of the cash-strapped Kingfisher Airlines Thursday asked the Indian private carrier to sell its properties in Goa and Mumbai and to come up with concrete steps to improve its operations.

India's BSE Sensex soared more than 430 points or 2.59 percent to a two-month high of 17448.48 Friday on positive global and domestic cues. The 30-share benchmark index opened at 17134.61 and reached a high of 17448.48 before closing down at 17429.98.

Asian stock markets rallied Friday as sentiment was buoyed after leaders at the European Union summit in Brussels agreed on important plans to tackle the region's debt crisis.

Fitch Ratings Wednesday revised its outlook on 11 India-based financial institutions to negative from stable while affirming the rating. Fitch revised the outlook on the Indian Railway Finance Corporation Limited's (IRFC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to negative from stable and affirmed the ratings at 'BBB-'.

Indian markets fell Monday after the Reserve Bank of India (RBI) announced that the key rates would remain unchanged.

Asian markets rose Friday as investor confidence was boosted by expectation for stimulus measures from policymakers globally.