Stock market under selling pressure, Nifty below 23,700
HDFC Bank, State Bank of India, Canara Bank and Punjab National Bank were among the major laggards, declining up to 3 per cent.
HDFC Bank, State Bank of India, Canara Bank and Punjab National Bank were among the major laggards, declining up to 3 per cent.
This initiative follows the Railway Board’s directive, aimed at improving employee welfare and financial convenience.
It may be recalled that in June, the State Bank of India (SBI) also had classified the loan account of the Anil Ambani-led Reliance Communications as "fraudulent".
In a customer-friendly move, the Canara Bank on Sunday officially scrapped the penalty for not maintaining a minimum balance in savings accounts starting June 1.
The bank’s net interest income (NII) during the first quarter increased 6 per cent to Rs 9,166 crore from Rs 8,666 crore in the same period last year.
Earlier this week, the bank had set the floor price for the issue at Rs 103.50 apiece.
During the last hour of trading, the banks stock witnessed huge buying and jumped 16.38 per cent to close at Rs 136.80 on BSE.
All four banks have acquired 6.67 per cent stake each (representing 50,000 equity shares) in firm for a cash consideration of Rs 5 lakh.
Under the globally accepted Basel-III capital regulations, banks need to improve and strengthen their capital planning processes.
The overnight and one-month lending rates have been cut by 20 basis points (bps) to 7 per cent each.
