UltraTech Cement, Bank of Baroda: UltraTech Cement Ltd shares rose 1%, while those of Bank of Baroda were up 1.7% ahead of the announcement of earnings for the third quarter ended December (Q3) later in the day. Indian Bank, JSW Steel and Prestige Estates Projects are among the other major companies that will release their quarterly numbers today. … [Read more...] about Yes Bank, Indiabulls Housing Finance, Info Edge, Biocon Among Key Stocks in Focus Today
Stake in banking
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time. … [Read more...] about SBI Says its Operations May be Impacted Due to Bank Unions’ Two-day Strike
YES Bank’s stock has surged 9% on Friday intra-day trade after State Bank of India chairman Rajnish Kumar said the troubled lender won’t be allowed to fail.The head of India’s biggest lender said he’s certain “some solutions will emerge” to steady YES Bank, which has been on a prolonged quest to raise new capital.“YES Bank is a significant player in the market with an almost $40 billion balance sheet,” SBI Chairman Rajnish Kumar said in Davos. “I have a feeling that it will not be allowed to fail,” he added.He said it won’t be good for India’s economy as a whole if YES Bank were to fail. “Because a bank of that size, if it is allowed to fail, there’s a problem,” he said. “And I am sure that some solutions will emerge.” Interestingly, last month Kumar said it was “out of the question that SBI will do anything for YES Bank.”The fresh statement has fuelled a talk that the … [Read more...] about Will SBI or LIC save YES Bank from its Lehman moment?
NEW DELHI: Shares of banks were in the green in Friday's morning trade. Shares of YES Bank (up 4.64 per cent), Bank of Baroda (up 1.32 per cent), Federal Bank (up 1.27 per cent), Axis Bank (up 1.17 per cent) and ICICI Bank (up 1.06 per cent) were among the top gainers in the index. IDFC Bank (up 1.03 per cent), State Bank of India (up 0.96 per cent), Punjab National Bank (up 0.81 per cent) and IndusInd Bank (up 0.76 per cent) too were trading with gains. While RBL Bank (down 0.5 per cent) was along in the red. The Nifty Bank index was trading 0.72 per cent up at 31,227.25 around 10:27 am. Benchmark NSE Nifty50 index was up 52.45 points at 12,232.8, while the BSE Sensex was up 159.05 points at 41,545.45. Among the 50 stocks in the Nifty index, 42 were trading in the green, while 8 were in the red. Shares of YES Bank, Vodafone Idea, Indian Oil, Indiabulls Housing, PFC, SBI, Bank of Baroda, Tata Motors, Adani Gas and ICICI Bank were among the most traded shares on the NSE. … [Read more...] about Stock market update: Bank stocks surge; YES Bank jumps 5%
Banks have told the National Payments Corporation of India (NPCI) that in the absence of fees from merchants, lenders can’t reimburse companies such as PhonePe and Google Pay that process and accept digital transactions on their behalf. At the centre of this demand is New Delhi’s decision to remove the Merchant Discount Rates (MDR) for all digital transactions made through UPI and RuPay instruments, a federal move that has annual cost implication of ₹2,000 crore for the lenders. In a letter to NPCI, the Indian Banks Association (IBA) has said fees from merchants making digital transactions were necessary to help sustain the expansion of digital modes of transaction. “The IBA managing committee has decided that in respect to zero MDR…zero interchange is acceptable to the banking industry, and NPCI should be requested to consider zero interchange, zero switching fee, and zero fee for the payment service providers (PSPs) while implementing the government … [Read more...] about Without merchant fees, banks say they can’t reimburse payment companies