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As On 23-Nov-2017
SENSEX
33,588.08
26.53 (0.08%)
NIFTY
10,348.75
6.45 (0.06%)
EQUITY
    No Companies Visited

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  • Govt to bring down stake in IDBI Bank below 51%

    Union Finance Minister Arun Jaitley said in his Budget speech that the government has started the process of transformation of IDBI Bank and will look at bringing down government's stake in the bank below 51%.

    Currently, government's stake in the bank is more than 80%.

    This is the first official announcement on such a move, even as discussion was on to dilute stake in the bank. IDBI Bank could be test case for the government before it moves to reduce stake in other banks as capital infusion is becoming challenging for the government considering its tight fiscal stance.

    On recapitalisation, Jaitley said government will infuse Rs 25,000 crore in public sector banks, while the government stands to infuse more if need be. The figure is part of the planned recapitalisation that the government announced last year, under its Indradhanush programme.

    Under the plan, the government will infuse Rs 70,000 crore in phases and has already infused Rs 19,950 crore to 13 public sector banks. Hence, there is nothing much new in the racapitalisation front except the government assurance that it stands "solidly behind banks"

    Back to news list
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Flash News 23-Nov-2017
  •  ( 17:07) Sensex rises 26.53 points or 0.08% to settle at 33,588.08  
  •  ( 15:47) Market closes near flat line  
  •  ( 14:37) TCS says Eastern Communications implements TCS HOBS  
  •  ( 13:49) European stocks drop  
  •  ( 12:35) Arrow Greentech secures product patent in US  
  •  ( 12:35) Healthcare Global to issue preferential shares  
  •  ( 12:35) Biocon launches cancer drug KRABEVA in India  
  •  ( 10:15) Winter session of Parliament likely from 15th Dec: Reports  
  •  ( 08:54) Asian stocks mixed  
  •  ( 08:54) Most US stocks end lower, Nasdaq hits record  
  •  ( 08:53) Govt constitutes task force for drafting new direct tax law  
Show News
23 November 2017 00:00
407.20
(-1.71 %)
1161.25
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544.25
(0.78 %)
3261.85
(-1.52 %)
496.05
(-0.53 %)
617.30
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270.90
(-0.51 %)
2311.65
(-2.10 %)
1703.25
(-0.88 %)
1846.70
(-0.39 %)
3679.10
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1269.15
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319.10
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991.40
(2.60 %)
258.15
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1020.95
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1216.30
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827.65
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1419.80
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8481.85
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180.00
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181.45
(0.39 %)
209.20
(1.04 %)
945.15
(1.60 %)
334.90
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544.75
(1.78 %)
426.10
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242.85
(-0.37 %)
711.25
(-0.05 %)
2682.75
(-0.02 %)
293.40
(-0.25 %)
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