Banking shares under pressure; Yes Bank dips 7%
.jpg)
Banking shares are under pressure falling by up to 7% on the National Stock Exchange (NSE) in noon deal trade.
Yes Bank, Oriental Bank of Commerce, Union Bank of India, Punjab National Bank, Allahabad Bank, Bank of India and Bank of Baroda are down between 5%-7% on the NSE.
Canara Bank, Bank of India, IDI Bank, Andhra Bank, Syndicate Bank, State Bank of India, Axis Bank, Indusind Bank, ICICI Bank and Kotak Mahindra Bank are down in the range of 4% to 5%.
At 03:08 PM, Bank Nifty was down 2.4% or 446 points at 18,257 compared to 1.5% fall in the CNX Nifty. In past three trading sessions, the banking index has fallen 3% against 1.3% decline in the benchmark index.
After granting in-principle approval to eleven applicants for payments banks, Reserve Bank of India (RBI) governor Raghuram Rajan today said licences for small finance banks will be announced next month.
Payments banks can accept deposits of up to Rs 1 lakh and can offer current and savings account deposits. They can also issue debit cards and offer internet banking. But they are not allowed to lend or issue credit cards.
Other Latest News
.webp)
The BJP will benefit from the anti-incumbency against the Biju Janata Dal government, which is in power for an unbroken 24 years in Odisha, and a strong Modi wave to dethrone Naveen Patnaik from the helm of the state, senior saffron party leader Vijaypal Singh Tomar claimed.
In an interview with PTI, Tomar said, "There is anti-incumbency and people in Odisha have decided to change the BJD government this time. Similarly, there is a strong Modi wave across India, which has also been strongly felt in this state."
.webp)
A senior TDP leader has said the priority of the party is to "rebuild" Andhra Pradesh and take the state out of the debt trap by getting rid of the YSR Congress Party (YSRCP) government.
Telugu Desam Party (TDP) National Coordinator (Election) and ex-Rajya Sabha MP Kanakamedal Ravindra Kumar said Andhra Pradesh has suffered more losses during the Jagan Mohan Reddy government than during the creation of the two Telugu states in 2014 when resources were shared with Telangana.
.webp)
The Supreme Court on Friday issued a notice to the Election Commission of India (ECI) regarding a plea seeking to frame rules in case ‘None of the Above' (Nota) option gets the majority in elections.
Motivational speaker Shiv Khera has petitioned that the ECI treat Nota as a "fictional candidate" and to establish guidelines for conducting re-elections in constituencies where Nota garners a majority.
.webp)
The just-concluded follow-on public offer (FPO) of Vodafone Idea Limited (VIL) has not only brought relief to the struggling telecom operator but also to the three investment banks that managed the Rs 18,000 crore share sale. According to the final prospectus filed by the Mumbai-based firm, it has paid Rs 287 crore, 1.6 per cent of the issue size, as book running lead manager (BRLM) fees.
This, according to PRIME Database, is the second-highest BRLM fee paid for a domestic FPO or an initial public offering (IPO).
.webp)
India’s largest non-banking financial company Shriram Finance on Friday reported a 57 per cent year-on-year (Y-o-Y) jump in its consolidated net profit for the fourth quarter of 2023-24.
In Q4 of FY24, the consolidated net profit of Shriram Finance stood at Rs 2,021.28 crore as against Rs 1,288.18 crore recorded in the same period of the previous year, due to rise in income and improved asset quality.
.webp)
.webp)
.webp)
.webp)
.webp)
