The credit agency said the government was seeking to avoid a default that would disrupt markets and prevent other Indian lenders from raising capital from debt investors, but warned that was raising expectations the state would continue to bail out lenders in similar situations
Read MoreThe Bank had received approval for the capital raise from its Board of Directors on July 7, 2017 followed by approval from its shareholders at its AGM held on August 4, 2017
Read MoreThe state run banks continue to languish when their private counterparts continue to thrive.
Read MoreLed by an over 41 per cent surge in inflows from small towns or the B15 cities, assets under management (AUM) of the mutual fund industry rose 30.35 per cent to Rs 19.97 trillion in July, says a report.
Read MoreTotal income of the bank during the reported quarter was marginally up at Rs 2,852.61 crore as against Rs 2,819.37 crore year ago, the bank said in a regulatory filing
Read MoreWith the new tax reform in place, representatives from cooperative banks discuss the steps to adapt to GST
Read MorePromoted by Allcargo chairman Shashikiran Shetty, Gnanesh Gala of Navneet Education and city-based realty expert Virendra Gala, BlackSoil was launched last August and it invests Rs 15-25 crore in a firm for 6 months to 3 years
Read MoreMD and CEO of Allahabad Bank, Usha Ananthasubramaniam said that operating profit of the bank increased 21 per cent at Rs 1170 crore as compared to Rs 967.44 crore during the previous similar quarter
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