SBI chief Bhattacharya earned Rs 2.37 cr less than ICICI Bank chief in FY17

Financial News SBI, one of the world’s 50 largest banks, pays only a small fraction to its top management as compared to private sector players like ICICI Bank and HDFC Bank. Former RBI governor Raghuram Rajan had flagged the low remuneration issue last August saying it makes difficult for state-owned banks to “attract top talent,… Continue reading SBI chief Bhattacharya earned Rs 2.37 cr less than ICICI Bank chief in FY17

Tap equity market: Govt tells 5 PSU banks

Financial News The central government has asked five state-owned banks to raise capital from the markets to meet their requirements for the fiscal year 2017-18. The Department of Financial Services has asked the relatively strong public sector banks (PSBs) — Canara Bank, Bank of Baroda (BoB), Indian Bank, Vijaya Bank, and Syndicate Bank — with… Continue reading Tap equity market: Govt tells 5 PSU banks

This Baahubali is like Clash of Clans, but with a desi twist

Financial News Ardent Baahubali fans might already have got the answer to arguably the most ubiquitous question of the past year – “Kattappa ne Baahubali ko kyon maara?’ – but that hardly seems to have tempered the excitement around the mythical story of Mahishmati. After the movie made its millions, now ‘Baahubali The Game’ is… Continue reading This Baahubali is like Clash of Clans, but with a desi twist

Axis Bank plans to raise Rs 35,000 cr to fund expansion

Private sector Axis Bank has planned a capital raise of up to Rs 35,000 crore in about a year’s time in line with its growth projection in domestic as well as overseas operations. In its annual report for 2016-17, Axis Bank said it may need to raise additional funds in one or more tranches from… Continue reading Axis Bank plans to raise Rs 35,000 cr to fund expansion

NPA resolution: PMO takes stock of progress

The Prime Minister’s Office today held a stock taking meeting with senior officials of the ministries of finance and corporate affairs to review the progress in resolution of NPAs in the light of recent action taken by the Reserve Bank on stressed assets. Prime Minister’s additional secretary P K Mishra had a review meeting on… Continue reading NPA resolution: PMO takes stock of progress

Bank of Maharashtra shares down nearly 4% on RBI’s PAC action

Shares of Bank of Maharashtra (BoM) on Monday fell nearly 4 per cent as the Reserve Bank of India (RBI) has initiated Prompt Corrective Action (PAC) against the company in view of a high level of bad loans and negative return on assets. The stock went down by 3.40 per cent to close at Rs… Continue reading Bank of Maharashtra shares down nearly 4% on RBI’s PAC action

Reliance Jio active subscriber additions slowing down? Airtel wins in April

Financial News : Reliance Jio has begun to witness a slowdown in active subscriber additions. For the first time since September, when Jio stormed into the market, Bharti Airtel has added more active subscribers than Jio. As per reports by Goldman Sachs and ICICI Securities, Jio added 0.4 million active subscribers in April as compared… Continue reading Reliance Jio active subscriber additions slowing down? Airtel wins in April