Latest Updates Around The World
Employees cannot remain silent spectators of a policy decision that undermines public banking and national interests, the United Forum of IDBI Officers and Employees said. | Photo credit: ADNAN ABIDI The United Forum of IDBI Officers and Employees has announced a national hunger strike and day-long demonstrations across the country on March 9 to, among […]
Government officials have repeatedly indicated that the disinvestment process will be completed in FY26 | Photo credit: ADNAN ABIDI The Department of Investment and Public Asset Management (DIPAM) on Friday said it has received financial bids for the strategic sale of IDBI Bank. This has increased the expectation that the sale of the shares will […]
M Nagaraju, Secretary, Ministry of Financial Services The finance ministry is considering increasing foreign direct investment (FDI) in public sector banks from the current 20 percent to 49 percent, a move that could bring them on par with private banks. The Union government’s shareholdings in 12 public sector banks (PSBs) have not declined since 2020. […]
Markets traded on a downward trend on Friday to end lower, pressured by mixed global cues and caution over the Union budget. With all eyes on the Union Budget, analysts expect increased volatility during the special trading session on Sunday and suggest a hedged approach be preferred.In today’s trading, shares of Meesho, Bajaj Auto, Adani […]
The forum said many young and aspiring graduates and postgraduate students had quit their government and PSB jobs in early 2004 to join IDBI Bank. | Photo credit: ADNAN ABIDI The IDBI Bank SC, ST and OBC Employees Forum has requested the President of India, the Center and the management of the bank to protect […]
IDBI Bank on Saturday reported a 1.4% rise in December standalone net profit at Rs 1,935 crore, compared to Rs 1,908 crore reported in the year-ago period. However, profit after tax fell 47% on a sequential basis, compared to Rs 3,627 crore in the second quarter of FY26.The lender earned an interest income of Rs […]
The Indian market closed sharply higher on Friday, the second trading session of the new year, with the Nifty 50 hitting a new record high as a broad rally took place. Strong business updates boosted earnings expectations and improved investor sentiment across sectors.The Nifty 50 climbed as much as 193.45 points during the session to […]
Life Insurance Corporation of India (LIC) has invested the maximum amount of Rs 88,404 crore in Tata Group, followed by an infusion of Rs 80,843 crore in HDFC Bank and Rs 60,065.56 crore in Reliance Group, Parliament was informed on Tuesday.Adani Group attracted an investment of Rs 47,633.78 crore while SBI attracted Rs 46,621.76 crore […]
The Cabinet Committee on Economic Affairs in May 2021 gave ‘in principle’ approval for the strategic disinvestment and transfer of management control in IDBI Bank | Photo credit: ADNAN ABIDI As the strategic sale of IDBI Bank enters its final phase, the government is expected to include sale proceeds of over ₹32,000 crore in the […]
Markets regulator Sebi has given in-principle approval to the registration of ‘Raajmarg Infra Investment Trust’ (RIIT) as an Infrastructure Investment Trust (InvIT) and will get the final nod after it meets specific requirements in the next six months, an official statement said on Friday.As part of the process to secure final registration, RIIT will have […]
