Key benchmark indices regained positive zone soon after opening lower amid initial volatility. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 82.19 points or 0.16% at 50,446.15. The Nifty 50 index was up 8.75 points or 0.06% at 14,919.20.
The S&P BSE Mid-Cap index was up 0.25%. The S&P BSE Small-Cap index was up 0.49%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1126 shares rose and 721 shares fell. A total of 67 shares were unchanged.
Stocks in news:
State Bank of India (SBI) rose 0.3% The Reserve Bank of India (RBl) has, vide its letter dated 16th March,2021, imposed a monetary penalty of Rs 2 crore on the bank for contravention of provisions of Section 10 (1 ) (b) (ii) of the Banking Regulation Act, 1949 and specific directions of RBI issued to the bank on payment of remuneration to employees in the form of commission. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 4
State Bank of India (SBI) said that the Reserve Bank of India (RBl) has, vide its letter dated 16th March,2021, imposed a monetary penalty of Rs 2 crore on the bank for contravention of provisions of Section 10 (1 ) (b) (ii) of the Banking Regulation Act, 1949 and specific directions of RBI issued to the bank on payment of remuneration to employees in the form of commission. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sections 46 (4) (i) and 51 (1 ) of the Act.
Private equity firm Carlyle has reportedly launched a block deal to sell around 4% stake in the SBI Cards & Payment Services and raise around $513 million. The offer price range is Rs 981.80 per share to Rs 1,022.10 per share.
Read more about Punjab National Bank eases for fifth straight session on Business Standard. Punjab National Bank is quoting at Rs 40.05, down 1.84% on the day as on 13:19 IST on the NSE. The stock jumped 13.46% in last one year as compared to a 66.58% rally in NIFTY and a 57.57% spurt in the Nifty Bank index.
Bank strike: Centre privatising profit, nationalising loss , says Rahul Gandhi
The Congress leader accused the government of privatising profit and nationalising loss
PTI | March 16, 2021 | Updated 13:09 IST
Congress leader Rahul Gandhi
Taking a dig at the government, Congress leader Rahul Gandhi on Tuesday alleged that selling public sector banks to cronies will compromise the country s financial security.
He also accused the government of privatising profit and nationalising loss . Government of India (GOI) is privatising profit and nationalising loss. Selling PSBs to Modicronies gravely compromises India s financial security, Gandhi tweeted.
The Congress leader also expressed solidarity with the protesting bank employees, who are on a two-day strike against alleged privatisation of public sector banks.
Despite the pandemic, the Allahabad Bank merger with Indian Bank concluded the final technical amalgamation (software integration) last month. What were the key synergies and cost benefits they obtained due to amalgamation? How many branches were rationalised and how many people were repositioned? What next for the amalgamated entity? Any fundraising on the cards?
In this podcast, we give you an insight on post-merger details and how easy or difficult it was to conclude the amalgamation Dear Reader,
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