Free Press Journal
  • IDBI Bank Q1 loss widens to Rs 2,410 cr

    New Delhi : State-owned IDBI Bank on Tuesday reported widening of loss to Rs 2,409.89 crore for the first quarter ended June 30, hurt by higher provisioning for bad loans.

  • IDBI gets government nod for LIC stake deal

    Mumbai : IDBI Bank on Wednesday said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

  • LIC-IDBI Bank deal may conclude by September

    New Delhi: After getting a go-ahead from the insurance regulator, LIC is preparing itself to complete the 51 per cent acquisition of debt-ridden IDBI Bank by the end of September, sources said.

  • LIC to come with an open offer to IDBI shareholders

    New Delhi : Insurance behemoth LIC will make an open offer to minority shareholders of IDBI Bank in which it proposes to acquire up to 51 per cent equity, source said. The state-owned life insurer will approach market regulator Sebi after getting approval from its board for acquiring stake in the state-owned bank.

  • Govt open to discuss RBI’s power over regulating PSBs: Goyal

    Mumbai : Finance minister Piyush Goyal on Tuesday said the government is open to discuss the issues that the Reserve Bank of India (RBI) had raised recently over the lack of powers in regulating state-run lenders.

  • B Sriram steps down as SBI MD

    New Delhi : SBI managing director B Sriram has resigned from the country’s largest lender after his appointment as chief executive of IDBI Bank, sources said.

  • LIC likely to enter banking space with IDBI stake deal

    New Delhi : Insurance behemoth LIC is looking to enter the banking space by acquiring majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender’s stressed balance sheet, sources said.

  • Boards to take call on IDBI-LIC deal: Govt

    Mumbai : The government on Monday sounded evasive about the media reports that it was planning to ask LIC to take a controlling stake in the crippled IDBI Bank, saying the boards of the respective entities will take a call on the matter.

  • State banks log Rs 87K-cr loss in FY18

    New Delhi : The cumulative loss of public sector banks crossed Rs 87,357 crore in the 2017-18 fiscal year, with scam-tainted Punjab National Bank (PNB) topping the chart with a hit of nearly Rs 12,283 crore followed by IDBI Bank.

  • Lok Ranjan to continue on ICICI Bank board

    New Delhi : The finance ministry on Friday said senior bureaucrat Lok Ranjan will continue to serve on the board of ICICI Bank as independent director despite his transfer to the personnel ministry.

  • UK, Vijay Mallya, London, Fugitive tycoon, British Assets, family's lavish residences, Vijay Mallya on his assets

    Vijay Mallya loses UK case, Banks can now recover Rs 10,000 crore

    London: Absconding tycoon Vijay Mallya has lost a major lawsuit in UK. It was filed by Indian banks which are seeking to collect more than $1.55 billion in claims, reports CNN IBN. Significantly, the judge also refused to overturn a worldwide order freezing Mallya’s assets and upheld a Karnataka debt tribunal’s ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly Rs 10,404 crore from the

  • Jaypee group promoters submit Rs 10K-cr plan to revive Infratech

    New Delhi : Jaypee group promoter Manoj Gaur on Monday made a Rs 10,000 crore offer to pay off bank loans and complete the stuck housing projects as part of plans to bring Jaypee Infratech out of bankruptcy, sources said.