Pune, April 24 (IANS) Finance Minister Nirmala Sitharaman on Friday confirmed that the government plans to continue with the disinvestment process of IDBI Bank.The comments dispelled the uncertainty hanging over the privatisation of IDBI Bank, as the offers received in the earlier bidding round were below the reserve price fixed by the government. Consequently, the proposed transaction had to be called off last month.Under the original plan, the government was to sell a 30.48 per cent stake in I…
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New Delhi, April 22 (IANS) A high‑level government committee on banking for the Viksit Bharat initiative is likely to review the 26 per cent cap on voting rights for private shareholders in Indian banks under the Banking Regulation Act, 1949, a report said on Wednesday.The panel, which has yet to be formally constituted, is expected to review the rule, as the voting restriction has been cited as a hurdle in the privatisation of IDBI Bank, after prospective investors sought greater control alig…
New Delhi, Feb 2 (IANS) Finance Minister Nirmala Sitharaman on Monday said that the government is set to introduce the Insolvency and Bankruptcy Code (IBC) Amendment Bill in the second half of the Budget session, beginning March 9.Addressing a press briefing, a day after presenting the historic reform-oriented Budget 2026-27, she said that the pace and direction of disinvestment should set the tone for revenue generation in the coming years.”Going forward, there will be a lot more divestment. Sp…
New Delhi, Feb 2 (IANS) Union Budget 2026‑27 marked a “pragmatic approach” with “no fireworks,” laying the groundwork for a stable medium‑term growth environment, without focusing on immediate catalysts for equity markets, a report has said.Global Brokerage Jefferies India in the report lauded the renewed emphasis on capital expenditure, particularly in defence, which was enabled by slower fiscal consolidation.The brokerage also welcomed support for data centres and electronics compo…
New Delhi, Jan 21 (IANS) Over 4.53 crore accounts have been opened to empower the future of girls, under the Sukanya Samriddhi Yojana (SSY) in the last 11 years, the government said on Wednesday.Launched in January 2015 under the Beti Bachao, Beti Padhao campaign, the scheme was designed as a bridge between financial security and social transformation.By encouraging families to plan early for their daughters’ education and well-being, SSY has helped instill a sense of confidence, inclusion, an…
Bhopal, Jan 19 (IANS) In a significant development in one of India’s longstanding high-profile bank fraud investigations, the Enforcement Directorate (ED)’s Bhopal Zonal Office has facilitated the restitution of properties valued at Rs 180.87 crore to affected banks. This follows an order passed by the Special Court (PMLA) at Indore on January 17, 2026, the central probe agency said in a statement. Of the total, properties with a fair market value of Rs 106.5 crore (comprising three attached pro…
Mumbai, Jan 17 (IANS) IDBI Bank on Saturday reported a 46.6 per cent quarter-on-quarter (QoQ) decline in its standalone net profit for the December quarter of the current financial year (Q3 FY26).The bank posted a profit of Rs 1,935.45 crore for the quarter ended December 31, as compared to Rs 3,627.36 crore in the July–September quarter (Q2) of FY26.However, on year-on-year basis, the bank’s profit was up by 1.42 per cent from Rs 1,908.27 crore in the same period last financial year (Q3 FY2…
New Delhi, Dec 24 (IANS) The National Highways Authority of India (NHAI) on Wednesday said it has received approval from the Securities and Exchange Board of India (SEBI) for Raajmarg Infra Investment Trust (RIIT) as a Public Infrastructure Investment Trust (InvIT).According to Ministry of Road Transport and Highways, the Public InvIT aims to unlock monetisation potential of the National Highway assets while creating a high-quality, long-term investment instrument primarily targeting retail and …
New Delhi, Dec 24 (IANS) The number of deals in the banking, financial services and insurance (BFSI) space rose threefold in CY 25, a report said on Wednesday.The report from financial services firm Equirus Capital said that the year saw 30 deals compared to 10 deals in 2024, with banks and non‑bank financial companies accounting for mergers, acquisitions and strategic deals worth Rs 42,939 crore.Other BFSI segments recorded deals worth Rs 43,014 crore, it added.The firm highlighted that NBFCs…