SBI awaits govt nod for Rs 20,000 cr rights issue : Bhatt

SBI chairman O P Bhatt today said the bank will not be able to raise Rs 20,000 crore from rights issue unless it receives government nod for the fund raising programme by the first week of February.



Comments

Post a Comment

Popular posts from this blog

Ethanol prices to be lower than interim price?

New Delhi: The party time seems suddenly over. Not only did food minister Sharad Pawar rule out implementing sugar sector decontrol anytime soon, but persistently nosediving prices over the last month have sharpened apprehensions within the sugar industry over Saturday's meeting oft the expert panel on ethanol headed by Plan panel member Dr Saumtira Chaudhury. The panel is authorised to come up with a long term formula for fixing the price of ethanol and to periodically review the formula but indications are that the price for ethanol will be lower than the interim price of Rs 27/litre fixed by the government. Current indications from officials are that ethanol price could be lower by upto Rs 2/litre comapred to the interim price. Panel head Dr Chaudhury is expected to circulate the final draft of his report to the stakeholders, including OMCs, the sugar, alcohol and chemcial industries, farmers groups and represent...
Keep reading

John Paulson earns $5 bn by betting on gold

John A. Paulson made $4 billion betting against newfangled mortgage investments. But he made even more betting on an old-fashioned investment: gold. Paulson, a hedge fund manager who sprang to fame when the housing market collapsed, personally made about $5 billion in 2010, according to two investors in his company. How? Paulson bought gold lots of it. His firm, Paulson & Co., owns securities that represent the rough equivalent of 96 metric tons of the metal. It is an outsize wager by almost any standard. Paulsons firm does not actually own all that gold. But if it did, it would be sitting atop more gold than the Australian government. Paulson himself would be holding more gold than Bulgaria. Paulson is known for betting big. His payday for last year exceeds the $4 billion he made for 2007. He be...
Keep reading

ICEX sees more physical market players for iron ore contract

MUMBAI: Indian Commodity Exchange (ICEX), which launched world's first iron ore futures (IOF) contract on Saturday, expects more physical market participants using its platform for effective risk management and hedging activities. The city-based ICEX has established strong connect with the physical market participants such as miners, manufacturers, importers and exporters and they have participated actively in trading, as well as taken lead to develop iron ore contract, officials said. "In coming days we shall see more physical market participants using ICEX platform for effective risk management and hedging activities. This is possible due to our contract meeting international standards and transparency in price discovery, which is reflective of the present trade in India," ICEX Chief Executive Officer Sanjay Chandel said. "We are sure the ...
Keep reading