The weak opening of the European markets and a sharp deprecation in the rupee against the dollar weighed on stock prices
Moody's revises outlook for ICICI Bank and Axis Bank to negative
Largest private sector lender HDFC Bank said it would encourage customers with adequate funds to continue repayments to avoid the extra interest charges and tenor extension of the loan
HDFC Bank has urged people to use cheque drop boxes to help reduce crowding in branches
Valuation of Reliance Industries Ltd (RIL) eroded by Rs 54,961.45 crore to Rs 6,46,732.07 crore and that of HDFC dropped by Rs 54,479.15 crore to Rs 3,03,722.13 crore.
The sudden economic stop caused by Covid-19 containment measures will lead to a global recession this year, bringing intense credit pressure, said S&P Global Ratings
According to the reconstruction scheme, 75 per cent of the total investment by the bank would be locked in for three years, ICICI Bank said
In two days, investors have lost Rs 9,74,176.71 crore wealth. At close of trade on Tuesday, the market capitalisation of BSE-listed companies was at Rs 1,19,52,066.11 crore.
In the last one month, the Nifty Bank has tumbled 24.7 per cent as compared to Nifty's 23.64 per cent fall. Here are key levels for frontline banking counters.
Peers investing indicates other investors' reluctance; banks must conserve capital first before bailing out the private lender
SBI Card, the second largest largest credit card issuer in the country, got listed at 13 per cent discount at Rs 658 on the BSE, against the issue price of Rs 755.
Reliance Industries, HDFC Bank, and ICICI Bank have been the biggest drag on the index performance, given their high weightage
SBI is investing Rs 7,250 crore in the ailing lender. LIC, HDFC, ICICI, Axis and Kotak Mahindra and other investors have also come forward to invest in it
The Union Cabinet on Friday approved a reconstruction plan proposed by the RBI for bailing out fund-starved Yes Bank.
The YES Bank reconstruction plan will include an equity investment of at least Rs 11,350 crore from various entities, including multiple private lenders.
Hours after the Cabinet approved restructuring scheme for YES Bank, private lenders ICICI Bank, HDFC, Kotak Mahindra Bank and Axis Bank came to the cash-strapped bank's rescue
The ICICI Bank in a regulatory filing said that the board has approved an equity investment of up to Rs 1000 crore in equity shares of YES Bank Limited
"This investment is likely to result in ICICI Bank Ltd holding in excess of 5 per cent shareholding in Yes Bank," the lender said in a regulatory filing.
The Sensex fell nearly 2,000 points, as foreign investors liquidated their investments for safe haven assets such as US bonds. As prices of bonds rise, yields fall.
While PhonePe declined to comment on the banks it is in talks with, sources said PhonePe is engaged in dialogue with State Bank of India, HDFC Bank, Axis Bank and RBL Bank.