Business

SBI Life Public Float Likely In Next 18-24 Months

Mumbai: SBI Chairman Arundhati Bhattacharya today said the bank is planning an initial public offering (IPO) of its life insurance JV, SBI Life, in the next 18-24 months. Last month, SBI had said it would offload up to 5 per cent stake in its life insurance joint venture. “We have already said we want to divest a small portion through ... Read More »

SBI Net Dips 99.6% To Rs 20.7 Crore On Mounting Bad Loans

Mumbai: A massive pile up of bad loans at its subsidiaries pulled down by 99.6 per cent the consolidated net profit of nation’s largest lender SBI to Rs 20.7 crore for the September quarter, while its standalone provisioning rose 3-fold. The bank had reported net profit of Rs 4,991.70 crore in the same quarter of last financial year, 2015-16. The ... Read More »

RBI Says Enough Cash Available As Crowds Throng Banks

  Mumbai: The Reserve Bank of India (RBI) on Sunday urged savers to not hoard money as public anger mounted over the government’s shock decision to withdraw large denomination notes in an attempt to expose undeclared wealth. Thousands of people were again standing outside banks across the country trying to change Rs. 500 and Rs. 1,000 bills the government abolished ... Read More »

No Need To Be Anxious, Enough Cash Available: RBI

Mumbai: The Reserve Bank of India on Sunday said enough cash is available at banks and people need not be anxious and make repeated trips to branches and ATMs to hoard money. “The Reserve Bank assures members of the public that enough cash in small denominations is also available at the Reserve Bank and banks.” “The Reserve Bank urges that ... Read More »

Demonetisation To Impact Small Firms, Rural Demand: Tata Steel

  New Delhi: The government’s move to demonetise currency will impact the secondary steel sector as most of the business conducted by these mini mills and rolling factories is cash-based, which in turn would help the large producers, Tata Steel said. Counted among the top 10 steel makers globally, the Mumbai-based firm said that demonetising will also temporarily impact steel ... Read More »

Cooperate With Government To Clean Up System, Says Ramdev on Demonitisation

New Delhi: Lauding the demonetisation of high denomination notes, yoga guru Ramdev on Sunday said the Narendra Modi government has dealt a severe blow to corruption, black money and terrorism and urged people to cooperate with the Centre in this endeavour to clean up the system. “By demonetising Rs 500 and Rs 1,000 denomination notes, Prime Minister Narendra Modi ‘ji’ ... Read More »

Axis Bank Sees Reduction In Lending Rates Post-Demonetisation

Mumbai: Axis Bank expects a dip in lending rates because of the surge in deposits which lenders are experiencing in the aftermath of the government’s move to scrap Rs 500 and Rs 1,000 notes. “The deposits are into savings or current accounts which are low cost ones. An increase in them should bring down our cost of funds,” Rajiv Anand, ... Read More »

Furnish Daily Data On Cash Withdrawals: RBI To Banks

The RBI has asked banks to submit the data in a specific format. Mumbai: The Reserve Bank of India (RBI) asked banks to submit daily amounts of cash withdrawn from over the counter as well as through automated teller machines to help it gather accurate data on the circulation of currency. In a circular on Sunday, it asked banks to ... Read More »

SBI’s ‘Demonetisation Deposits’ Swell To Rs 75,945 Crore

SBI has seen Rs. 75,945 crore in deposits since the demonetisation of currency notes on November 8. Chennai: India’s largest lender State Bank of India (SBI) has seen Rs. 75,945 crore in deposits since the demonetisation of high-denomination currency notes on November 8, said a senior official on Sunday. “The cumulative deposits (of invalid Rs. 500 and Rs. 1,000 notes) ... Read More »

Benefits of Using Placement Agencies for Job Search | JobsSite.ca Why use Placement Agency for finding an ideal IT job

Over the recent years, computer and Information Technology jobs have been experiencing a rising trend. You’re keen on pursuing a career in IT. You’re an IT graduate and now you’re looking forward to getting your first career break. A quick glance in the job market and you’ll come across hundreds and thousands of IT graduates looking for career growth in ... Read More »