Money & Banking
SBI getting ready to acquire 5 associates banks and Mahila Bank
State Bank of India, the country's largest state-run lender on Tuesday said its board has discussed possibilities of acquiring its five associate banks, including assets and liabilities as well as the Bharatiya Mahila Bank (BMB), which was set up as first bank for women. 
 
"This discussion is purely exploratory at this stage and not certain. A proposal seeking an in-principle approval to start negotiations with associate banks will be submitted to the central government," SBI said in a release.
 
SBI's associate banks include State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore.
 
In addition to these five banks, SBI said its board members also discussed the possibility of acquiring BMB, the country's first bank targeted to women. SBI says it would explore this acquisition once the central government gives an in-principle approval to start negotiations with BMB.
 

User

COMMENTS

Ramesh Poapt

7 months ago

subsidiaries banks did well b4 few quarters. but since last 2 quarters,they are also going sicker.ex.SBM as at 31-3-16, haS GROSS npa OF 3600 CR VS RESERVE OF 46OO CR. GROSS/NET NPA INCREASING. sbm GOVT HOLDING IS 90%, sbbj,sbt HV APR 80% . sbi IS 1 RS. SHARES WHEREAS SUBSID.BANKS HV 10 RS F.V. IT WILL FACE CHALLENGES.
BUT FINALLY WIL GO THRU. VALUATION/SWAP CRUCIAL. I BOUGHT 3 SUBS. ON PRICE DIP.

Nifty, Sensex trendless – Tuesday closing report
The major indices of the Indian stock markets put in a minor rally in Tuesday’s trading and closed less than 0.50% over Monday’s close. The trends of the major indices in Tuesday’s trading are given in the table below:
 
 
Positive global indices, along with higher crude oil prices and expectations of better quarterly results, buoyed the Indian equity markets on Tuesday. Consequently, key indices made gains during the late-afternoon trading session, as healthy buying was witnessed in stocks of oil and gas, automobile, capital goods and banking sectors. However, investors were seen cautious, given the recent negative macro-economic data and poor quarterly results from state-owned banks. Key economic indicators show rising inflation trend that has reduced the chances of the Reserve Bank of India (RBI) further easing its key lending rates during the monetary policy review scheduled for June.  In addition, the risk-taking appetite of investors was subdued a day ahead of the US Federal Open Market Committee (FOMC) releasing its minutes. The US FOMC minutes assume significance as they can give vital cues on the future course of US interest rates. On the BSE, there were 1,303 advances and 1,300 declines at the close of Tuesday’s trading.
 
State-run Indian Oil Corp (IOC) on Tuesday raised transport fuel prices, with petrol becoming costlier by 83 paise a litre and diesel by Rs.1.26, both at Delhi and inclusive of local levies, with corresponding increase in other states. Indian Oil Corporation share prices closed at Rs407.45, down 0.48% on the BSE.
 
US stocks posted solid gains on Monday as investors cheered over a strong rebound in oil prices. The Dow Jones Industrial Average added 175.39 points, or 1.00%, to 17,710.71. The S&P 500 gained 20.05 points, or 0.98%, to 2,066.66. The Nasdaq Composite Index leapt 57.78 points, or 1.22%, to 4,775.46. Goldman Sachs saw US oil trading as high as $50 per barrel in the second half of 2016. On the economic front, the May 2016 Empire State Manufacturing Survey indicated that business activity declined for New York manufacturers.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

User

Kwid, Celerio, Eeco, Scorpio and Eon fail crash test
The latest Indian crash test results from Global NCAP released on Tuesday continue to disappoint with all five models rated as zero star. The Renault Kwid, Maruti Suzuki Celerio, Maruti Suzuki Eeco, Mahindra Scorpio and Hyundai Eon all showed low levels of adult occupant protection.
 
"The latest SaferCarsforIndia results show how important it is for cars to have a body shell that can remain stable in a crash. This is an absolutely crucial pre-requisite for occupant safety together with fitment at least of front air bags. It is very surprising that a manufacturer like Renault introduced the Kwid initially lacking this essential feature. Global NCAP strongly believes that no manufacturer anywhere in the world should be developing new models that are so clearly sub-standard. Car makers must ensure that their new models pass the UN’s minimum crash test regulations, and support use of an airbag," says David Ward, Secretary General of Global NCAP.
 
He said, the results highlight the importance of the Indian Government’s decision to mandate front and side impact crash tests from October 2017. "Legislative action is needed to ensure that the minimum levels of occupant protection recommended by the United Nations are guaranteed for Indian consumers. But manufacturers don’t have to wait for legislation and we urge them to act to eliminate all zero star cars from production as soon as possible," he added.
 
Here are the detailed crash test results
 
 
 
 
Global NCAP says it tested the standard version of the Kwid without airbags. The car scored zero stars in adult occupant protection and two stars in child occupant protection. The collapse of the structure in the passenger compartment and the lack of airbags explained the poor result.
 
Renault then asked Global NCAP to test updated versions of the Kwid in production. The car was tested with and without an airbag.
 
    
The new Kwid without an airbag scored zero stars in the adult occupant protection and two stars in child occupant protection. The new Kwid with the addition of driver airbag was also tested. This version also scored zero stars in the adult occupant protection and two stars in child occupant protection.
 
Renault has confirmed with Global NCAP that the company will implement further improvements to the KWID and Global NCAP will test these new evolutions in forthcoming crash tests. 
 
 
 
Mahindra Scorpio scored zero stars in the adult occupant protection and two stars in child occupant protection. The collapse of the structure combined with the lack of airbags explains the score for the adult occupants protection which means that there is high probability of life threatening injuries for at least one of the adult passengers.
 
 
 
The non-airbag Eeco scored zero stars in the adult occupant protection and one star in child occupant protection. The collapse of the structure in the passenger compartment and the lack of airbags explained the poor result in adult occupant protection. This model does not offer optional airbags. Considering the structural collapse airbags are not likely to help avoid life threatening injuries to the driver.
 
 
 
The Hyundai Eon is offered in the standard version without airbags. It scored zero stars in the adult occupant protection and two stars in child occupant protection. The unstable structure in the passenger compartment and the lack of airbags explained the poor result in adult occupant protection.
 
 
 
The non-airbag Maruti Suzuki Celerio scored zero stars in adult occupant protection and one star in child occupant protection. The lack of airbags explained the poor result in adult occupant protection.
 
The low score in child occupant protection is explained by the high values recorded in the three year old child dummy as well as its forward excursion beyond the accepted limits.

User

COMMENTS

ujjwal malik

7 months ago

I guess there is no safe car under priced below 10 lakhs in India. The only safety feature provided by Maruti etc in their cars is a framed photo of Lord Ganesha.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)