Bandhan Bank raised Rs 1,342 crore from anchor investors, ahead of its initial share-sale. The anchor investor issue fetched Rs 1,341.91 crore after allotment of 3.57 crore shares to 65 anchor investors at a price of Rs 375 per share. Among the anchor investors are Abu Dhabi Investment Authority - Behave, Blackrock India Equities (Mauritius), HSBC Indian Equity Mother Fund, UTI - Mastershare Unit Scheme, BNP Paribas Arbitrage, Amansa Holdings and Tata Balanced Fund. ... Read More

The National Bank for Agriculture and Rural Development (NABARD) today announced area development plans worth Rs 1,918 crore for Punjab to supplement farmers income. We have prepared area development plans to the tune of Rs 1,918 crore only for Punjab, NABARD Chief General Manager -Punjab, Deepak Kumar said at the State Level Bankers Committee (SLBC) meeting here. ... Read More

NEW DELHI: The CBI has approached the Interpol to locate billionaire jewellery designer Nirav Modi and his family who had left the country in the first week of January, weeks before scam was reported to the agency, officials said. Officials said the CBI approached the Interpol with a request for issuing Diffusion Notice which was aimed at locating an individual. The Reserve Bank of India (RBI) will be ready to inject adequate amount of extra cash into banks if needed ahead of March-end to give flexibility to lenders to manage their liquidity mismatches that typically happen at quarter-end, i ... Read More

New Delhi- The ED on Friday carried out fresh searches against people allegedly linked to Karti Chidambaram, son of senior Congress leader P Chidambaram, in connection with the INX Media money laundering case, officials said. They said the raids were being conducted at three premises in Chennai under provisions of the Prevention of Money Laundering Act-PMLA, the anti-money laundering law. The searches were carried out against people allegedly linked to Karti Chidambaram, they added. The former Union ministers son was questioned for over 10 hours on Thursday in this case in Delhi by the Enfo ... Read More

The Sensex and Nifty extended gains for the second day amid Asian markets recovering from two-month lows. While the Sensex was trading 144 points higher at 34,446, the Nifty rose 52 points to 10,598 level. Midcaps and small cap indices led the recovery rising 100 points and 125 points, respectively. Among BSE sectoral indices, IT stocks led the gains with BSE IT index rising 206 points to 12,296 level. Banking stocks which fell during the last few sessions also saw gains with the bankex rising 160 points to 28,891 level. ... Read More

In what may turn out to be one of the biggest scams in the countrys corporate history, Delhi-based Punjab National Bank-PNB said on Wednesday it had been defrauded of about Rs 114 billion by jeweller Nirav Modi, his maternal uncle Mehul Chinubhai Choksi, and other relatives through a clutch of companies they own. The countrys second-largest public sector bank-PSB said two of its employees were involved in the scam, where the banks core banking system was bypassed to raise payment notes to overseas branches of other Indian banks, including Allahabad Bank, Axis Bank, and Union Bank of India, usi ... Read More