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The proposal to seek fresh bids for IDBI Bank came after senior officials met to weigh options. ShowQuick Read Summary is AI-generated, newsroom-reviewed * The government plans to invite fresh bids for IDBI Bank's sale after low initial offers * Initial bids ranged between Rs 40,000-45,000 crore, below government expectations * Senior officials from DIPAM and DFS are reviewing options and next steps for bidding Did our AI summary help? Let us know. Switch To Beeps Mode The central gover ...Read More >
New Delhi: The government may ask for revised financial bids from two potential buyers of IDBI Bank as their original bid amounts were lower than the reserve price fixed for the strategic sale of the lender, sources said. "The IDBI Bank strategic sale is in the technical evaluation stage," a senior official told PTI. Also Read: Government likely to restart IDBI Bank privatisation process from scratch Amidst the West Asia crisis, the government is banking on disinvestment and asset monetisatio ...Read More >
New Delhi, Apr 7 (PTI) The government may ask for revised financial bids from two potential buyers of IDBI Bank as their original bid amounts were lower than the reserve price fixed for the strategic sale of the lender, sources said. "The IDBI Bank strategic sale is in the technical evaluation stage," a senior official told PTI. Amidst the West Asia crisis, the government is banking on disinvestment and asset monetisation to garner resources and create fiscal space for measures to shield the e ...Read More >
New Delhi, Apr 4 (PTI) LIC-controlled IDBI Bank on Saturday reported a 16 per cent increase in loan growth to Rs 2.53 lakh crore for the fourth quarter ended March 2026. Its total advances were Rs 2.18 lakh crore at the end of March 31, 2025, IDBI Bank said in a regulatory filing. The lender reported a 12 per cent rise in total deposits to Rs 3.46 lakh crore from Rs 3.1 lakh crore at the end of the fourth quarter of the preceding financial year. The total business of the bank increased 14 per ...Read More >
Anil Ambani and Reliance Communications are under renewed scrutiny as the CBI launches a fresh investigation into allegations of a Rs 3,750 crore fraud against the Life Insurance Corporation (LIC) involving Non Convertible Debentures. Photograph: Prashant Waydande/ReutersKey PointsThe CBI has filed a new case against Anil Ambani and Reliance Communications for allegedly defrauding LIC of Rs 3,750 crore.The case involves alleged conspiracy, cheating, misappropriation, and violations of the Preve ...Read More >
New Delhi: The Central Bureau of Investigation Wednesday registered a case against Reliance Communications Ltd (RCom), Anil Ambani, unknown public servants, and unknown others on allegations of causing wrongful loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India. The case has been registered based on a complaint received from Life Insurance Corporation of India Ltd. for offences of conspiracy, cheating, misappropriation, and offences under the Prevention of Corruption Act, accor ...Read More >
New Delhi: The Central Bureau of Investigation on Wednesday registered a case against Reliance Communications Ltd (RCom), Anil Ambani, unknown public servants, and unknown others on allegations of causing wrongful loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India. The case has been registered on the basis of a complaint received from Life Insurance Corporation of India Ltd. for offences of conspiracy, cheating, misappropriation, and offences under the Prevention of Corruption ...Read More >
New Delhi, Nov 20 (PTI) State-owned NHAI on Thursday said it is in the process of establishing Raajmarg Infra Investment Trust (RIIT) as a Public InvIT to unlock the monetization potential of National Highway assets. A Public Infrastructure Investment Trust (InvIT) is an investment vehicle that enables retail investors to directly invest in and earn income from a pool of operational infrastructure projects. Units of public InvITs are listed and traded on stock exchanges such as the National St ...Read More >
Private banks such as Yes Bank, RBL, DCB, Federal and City Union Bank can rally up to 48%, hint charts. Shares of private banks, mainly Yes Bank and RBL Bank have been in limelight after Japan-based Sumitomo Mitsui Banking Corporation and UAE-based Emirates NBD picked equity stake in these two Indian private banks. Sumitomo Mitsui became the largest shareholder in Yes Bank at 24.99 per cent following the additional stake purchase from SBI and a consortium of seven other shareholders. Over the ...Read More >
Mumbai: RBL Bank expects its proposed share purchase deal with Emirates NBD to conclude within the next 5-8 months, with the management indicating the full $3 billion (₹26,850 crore) infusion - the biggest foreign direct investment in commercial banking - is likely this FY itself. The bank proposes to simultaneously seek regulatory and federal approvals while it seeks shareholder nod for the majority takeover. "It should be somewhere in the 5-8-month range," R Subramaniakumar, MD & CEO, RBL Ba ...Read More >
Mumbai, Oct 19 (PTI) RBL Bank expects Emirates NBD Bank's USD 3 billion fund infusion, the largest FDI in the financial services sector, to close by June next year, once the regulatory and government approvals are secured, a top official said on Sunday. RBL Bank will merge with NBD's wholly-owned subsidiary operating in India and become a "listed foreign bank subsidiary" post-deal, the management said. "Our aspiration is to grow multi-fold, and the capital will help. We are now a mid-sized sma ...Read More >
New Delhi, Oct 19 (PTI) The Congress on Sunday said foreign firms gradually being allowed to acquire Indian banks was "imprudent" as it poses substantial risks and recalled that the Jan Sangh had criticised then prime minister Indira Gandhi for not nationalising foreign banks in July 1969. Congress general secretary in-charge communications Jairam Ramesh's assertion came after Emirates NBD Bank, the second largest in the UAE, expressed interest in acquiring a majority 60 per cent stake in RBL B ...Read More >
New Delhi, September 28: In a major breakthrough against cyber-enabled financial fraud, the Delhi Police Crime Branch's Cyber Cell has arrested a key accused linked to a pan-India crypto investment racket that defrauded a victim of nearly Rs 34 lakh, police officials said on Sunday. Officials said the accused, Naresh Kumar of Haryana's Karnal, was apprehended for acting as a professional "account provider" to organised cyber fraud syndicates operating under the name Coin-Ex Crypto Trading. Digi ...Read More >
New Delhi, Aug 6 (PTI) In a stellar debut, shares of National Securities Depository Ltd (NSDL) closed the first day of trade at a premium of 17 per cent against the issue price of Rs 800 on Wednesday. The stock started trading at Rs 880 apiece, a jump of 10 per cent from the issue price on the BSE. In the intraday session, it rallied by 18 per cent to hit a high of Rs 943.85. Later, NSDL shares ended at Rs 936, up 17 per cent. At the end of the trading session, the company's market valuation s ...Read More >
NEW DELHI, Aug 1 (Reuters) - India has completed due diligence for the stake sale of IDBI Bank (IDBI.NS), opens new tab and plans to invite financial bids between October and December, the country's divestment secretary said on Friday. A successful bidder will be announced by the end of March 2026, said Arunish Chawla, Department of Investment and Public Asset Management Secretary. Banking sector deals in India, especially those involving foreign entities, are rare. A full takeover of troubled ...Read More >
NEW DELHI: With due diligence for the sale of govt stake in IDBI Bank completed, Centre is all set to invite financial bids during the Dec quarter as it expects to shortlist the final bidder by the end of the financial year, a top official said Friday."The data room process is complete for all interested parties and formal consultations with all qualified interested parties have been completed. We are hoping to complete the selection of the winning bidder by the end of the financial year," said ...Read More >
Chennai, August 1: Actor, music director and producer G V Prakash Kumar, who has won the National Award for Best Music Direction (Songs) for the Tamil, Telugu bilingual film Vaathi, has called the honour "a blessing for the second time". Taking to his X timeline soon after the 71st National Awards were announced, G V Prakash expressed his gratitude to the jury and the selection committee of the National Awards and the entire team of Vaathi. G V Prakash wrote, "A blessing for the second time. I' ...Read More >
New Delhi: The government is preparing to invite financial bids in the third quarter (October-December) of FY26 for a strategic stake sale of IDBI Bank, as potential buyers have completed due diligence, Department of Investment and Public Asset Management (DIPAM) secretary Arunish Chawla said on Friday. "All data room protocols have been finalized for interested bidders," Chawla told reporters, indicating that the divestment process is now ready to move into its final stages. "We hope to invit ...Read More >
NEW DELHI, Aug 1 (Reuters) - India has completed due diligence for the stake sale of IDBI Bank (IDBI.NS), opens new tab and plans to invite financial bids between October and December, the country's divestment secretary said on Friday. A successful bidder will be announced by the end of March 2026, said Arunish Chawla, Department of Investment and Public Asset Management Secretary. Banking sector deals in India, especially those involving foreign entities, are rare. A full takeover of troubled ...Read More >
New Delhi: Reliance Infrastructure Ltd on Friday said appellate tribunal NCLAT has stayed the insolvency proceedings against the company following a repayment of ₹92.68 crore towards tariff as per an energy purchase agreement. Reliance Infrastructure in its latest regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) has stayed an NCLT order over an appeal filed by it. The Mumbai bench of the the National Company Law Tribunal (NCLT) on May 30 this year directed initia ...Read More >
New Delhi, Jul 18 (PTI) The central drugs laboratories have found 55 samples manufactured by various firms in June to be "not of standard quality", health ministry officials said on Friday. Further, state drugs testing laboratories have identified 130 drugs samples as 'not of standard quality', they said. Also Read | Chhattisgarh: 6 Bodies of Naxals Recovered in Ongoing Encounter With Security Forces in Narayanpur. According to routine regulatory surveillance activity, the list of 'not of sta ...Read More >
New Delhi: Reliance Infrastructure Ltd on Friday said appellate tribunal NCLAT has stayed the insolvency proceedings against the company following a repayment of ₹92.68 crore towards tariff as per an energy purchase agreement. Reliance Infrastructure in its latest regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) has stayed an NCLT order over an appeal filed by it. The Mumbai bench of the the National Company Law Tribunal (NCLT) on May 30 this year directed initiat ...Read More >
Bengaluru, Jul 18 (PTI) A man was arrested for allegedly using abusive language and derogatory comments against Karnataka and Kannada-speaking people, police said on Friday. The incident occurred on July 17 at around 9.30 am, when Ranjith Mathew, a delivery partner, called a customer, identified as Mithun Sarkar, to confirm the address to deliver a T-shirt ordered by him through an online platform, they said. Also Read | Ladki Bahin Yojana July 2025 Installment Date: When Will Maharashtra Wome ...Read More >
New Delhi, Jul 18 (PTI) Reliance Infrastructure Ltd on Friday said appellate tribunal NCLAT has stayed the insolvency proceedings against the company following a repayment of Rs 92.68 crore towards tariff as per an energy purchase agreement. Reliance Infrastructure in its latest regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) has stayed an NCLT order over an appeal filed by it. Also Read | Ladki Bahin Yojana July 2025 Installment Date: When Will Maharashtra Wome ...Read More >
Gurugram, July 12 (SocialNews.XYZ) The ED's Gurugram Zonal Office attached properties worth Rs 681.54 crore and Rs 588.57 crore in the Gurugram zone in two separate money laundering cases linked to Ramprastha Promoters and Developers and Amtek Auto, an official said on Saturday. In the first case, the Enforcement Directorate (ED) attached immovable properties of Ramprastha Promoters for cheating homebuyers. Investigation revealed that RPDPL collected Rs 1,100 crore from more than 2,000 homebuye ...Read More >
Ranchi, Jul 10 (PTI) Union Home Minister Amit Shah will chair the Eastern Zonal Council meeting here on Thursday in which around 70 representatives from the four eastern states - Jharkhand, Bihar, Odisha and West Bengal - will participate, officials said. Shah arrived in Jharkhand's capital Ranchi around 10 pm on Wednesday to chair the meeting for which security has been beefed up in the city. Also Read | Sudden Death in Maharashtra: Pune Police Constable Suffers Heart Attack, Dies on Duty. U ...Read More >
Ahmedabad: Banking operations in Gujarat came to a grinding halt on Wednesday as over 20,000 employees from nationalized and select private sector banks joined the all-India strike called by Central Trade Unions. The coordinated protest disrupted cash transactions, cheque clearances and customer servicing across 3,678 branches, affecting transactions worth an estimated Rs 15,000 crore, leaving traders, businesses and industrialists held up for important work.The strike drew participation from pu ...Read More >
Stocktwits - Indian equity markets took a breather, snapping a four-day winning streak, with the Nifty index ending above the 25,500 level. The Sensex fell 452 points to close at 83,606, while the Nifty 50 fell 120 points to finish at 25,517. Broader markets outperformed with the Nifty Midcap index gaining for the seventh straight session. The Midcap and Smallcap indices rose by over 0.5%. The retail investor sentiment surrounding the Nifty 50 remained 'bullish' on Stocktwits. Nifty sentimen ...Read More >
Hyderabad: International Asteroid Day (IAD) is observed on June 30 every year to raise public awareness of asteroids and the importance of defending Earth against potential threats from the asteroid belts. This day has been sanctioned by the United Nations. Asteroids are small, rocky objects that orbit the sun. Even though these rocky remnants are the leftovers from the formation of our solar system that occurred about 4.6 billion years ago, they still orbit around the sun like planets. There a ...Read More >
Mumbai, June 30 (SocialNews.XYZ) Shares of IDBI Bank rose by 4 per cent to Rs 105 apiece on Monday after reports suggested that the government is preparing to invite financial bids for the lender. This move signals fresh momentum in the much-delayed disinvestment process of the bank. However, the share price consolidated later and was trading at Rs 104.26, up by Rs 2.94 or 2.90 per cent on the National Stock Exchange (NSE) around 1:50 p.m. The bank was yet to comment on the reports. Accordin ...Read More >
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