IAG to sell 26% stake in SBI General Insurance

Public sector lender SBI said its joint venture partner IAG will sell entire 26 per cent stake in its subsidiary SBI General Insurance to Napean Opportunities and WP Honey Wheat lnvestment Ltd for an undisclosed amount. Continue Reading

NT compiles a list of major financial crimes that shocked India

Ever since Punjab and Maharashtra Cooperative Bank (PMC Bank) crisis unfolded, citizens across India are worried by the mounting financial stumbles that have plagued our nation as our economy continues to stumble downward. In this article, News Today compiles a list of major white-collar crimes that rocked our country. Continue Reading

Eight firms spike over Rs 77,000 crores in market valuation last week

Eight of the 10 most valued domestic companies together added Rs 77,222.53 crore in market valuation last week, propelled by sharp gains in HDFC twins and ITC. Continue Reading

SBI mulls NCLT route to recover loans from ailing Jet Airways

To recover its loans from Jet Airways, state-run lender SBI is mulling moving National Company Law Tribunal as it feels the airline is running out of funds for operations, even as shareholders of the debt-laden carrier have approved a debt rejig plan, officials said. Continue Reading

RBI rate hike a ‘win-win’ situation for markets, banks: SBI report

The Reserve Bank of India’s (RBI) decision to raise the repo rate by 25 basis points (bps) to 6.50 per cent is a ‘win-win’ situation for both markets and the banks as inflation is expected to rapidly decelerate to sub-five per cent in coming months, suggests the report from the Economic Research Department of State Bank of India (SBI). Continue Reading