ALSO READDeposit-heavy banks to gain most from SBI's savings rate cut to 3.5% SBI net profit down 38% on higher provisioning SBI's New Year gift: base rate cut by 30 bps, home loan fee waiver extended SBI waives off up to 100% processing fee on car, gold, personal loans SBI cuts interest rate on savings bank deposits. Will other banks follow?
Ruias plan to pay interest, penalty of Rs 35 bn to retain Essar Steel
The Ruias are considering bidding for Essar Steel, with the Lok Sabha passing amendments to the Insolvency and Bankruptcy Code. To make their bad loan accounts operational, the promoters of Essar Steel must pay banks overdue interest, including penalty, of Rs 30-35 billion, sources said. (Click here to read more)
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