Feb 1, 2020
New Delhi: Finance Minister Nirmala Sitharaman said on Saturday the government would sell its entire stake in IDBI Bank to private players.
After the announcement, shares of IDBI Bank surged over 12 per cent to Rs 38.25, gain of 4.20 per share. It was trading at Rs 38.30 per share at 2.17 p.m. on Saturday.
The government, a promoter, holds around 46.5 per cent stake in IDBI Bank, and is classified as a private bank following LIC’s acquisition.
In September, Life Insurance Corporation (LIC) of India and the Government together infused Rs 9,300 crore as equity capital into the bank.
State-owned LIC, which is the promoter of the debt-ridden lender with 51 per cent stake, will pump in an additional Rs 4,743 crore to improve the bank’s capital position. IANS
About 85 pc of world’s cryptocurrencies are not even worth a cent: Report
New Delhi: About 85 per cent of the world’s cryptocurrencies are worth less than one cent, according to a report on Monday. The total number of cryptocurrencies has been floating...
India’s white-collar jobs see 6 pc growth in September, IT sector bounces back
New Delhi: India’s white-collar hiring activity saw a strong 6 per cent growth (year-on-year) growth in September, driven by a resurgence in IT (18 per cent) and FMCG (23 per...
Per capita income in India to increase by at least $2,000 in 5 years: FM Sitharaman
New Delhi: Fuelled by overall economic growth, per capita income in the country is likely to increase by at least $2,000 over the next five years, according to Finance Minister...
Indian mutual fund industry set to cross 50 mn unique investors
Mumbai: The mutual fund industry in the country saw assets under management (AUM) surging to Rs 66.7 lakh crore in 2024 and is set to cross the 50-million unique investor...
Rupee among least volatile currencies globally: Shaktikanta Das
New Delhi: The rupee has emerged as one of the least volatile currencies worldwide, remaining "very stable against the US dollar" and the volatility index, the Reserve Bank of India...
Lok Sabha approves Rs 48.21 lakh crore Union Budget 2024-25
New Delhi: The Lok Sabha on Tuesday approved the Rs 48.21 lakh crore Union Budget for 2024-25 aimed at giving a major push to job creation with a focus on...
Asian markets tank over US recession fears, Indian indices fare better
New Delhi: A disappointing job scenario in the US coupled with the fear of a reverse Yen carry trade, following an interest rate hike in Japan, led Asian markets to...
RBI leaves repo rate unchanged to ensure price stability with growth
Mumbai: The RBI on Thursday kept the key policy repo rate unchanged at 6.5 per cent for a ninth consecutive meeting as it continued to maintain a balance between accelerating...
Going global: UAE merchants accept Rupee via UPI to attract Indian customers
New Delhi: The government of India has been promoting UPI as a global payment platform. Now merchants in the United Arab Emirates (UAE) are accepting payments via UPI in Rupees...
Musk’s Twitter takeover trial set to begin in October
San Francisco: In an early win for microblogging site Twitter, a US court has ordered that the platform's lawsuit against tech billionaire Elon Musk -- for trying to back out...
Tesla sold 75% of its Bitcoin, Musk says Dogecoin still with him
New Delhi: Tesla has sold 75 per cent of its Bitcoins, adding $936 million in cash to its balance sheet in the second quarter (Q2) this year, as it deals...
Meta commits additional $150 mn to its Oversight Board
San Francisco: Tech giant Meta has made a commitment that provides for ongoing financial support for the Oversight Board, and as part of that commitment, it will make a $150...
