The government has approved capital infusion in five public sector lenders, namely PNB, Allahabad Bank, Andhra Bank, Indian Overseas Bank and Corporation Bank.
LIC gets IRDAI nod for IDBI Bank buy: NPA-ridden lender gets a policy cover and the insurer, a risky bet
LIC is using the insurance premium it collected from customers to bailout IDBI Bank, and should the experiment go wrong, it will have to answer the customer first.
Eurozone finance ministers on Wednesday agreed to extend further bailout loans to Greece as well as debt relief, in what they called a "major breakthrough".
Greek lawmakers have backed a deeply contentious bailout package, clearing the first hurdle towards securing a rescue hours before fresh talks between eurozone ministers but leaving the radical left government in Athens weakened.
Tsipras said there was no alternative to the package, which he acknowledged would cause hardship, but he stood by the decision
Greece has a tentative rescue deal, but relief that it is not falling out of the euro is unlikely to last long: its economy has taken a huge hit.
The White House hailed a bailout deal between the eurozone and Greece on Monday as "a credible step" on the long path to economic growth and debt sustainability in the hard-up country.
Greece on Sunday faced a final EU summit to clinch a deal that would stop Athens crashing out of the euro after divided eurozone ministers halted "very difficult" talks on a new bailout overnight.
The measures received nitial green light from European Union and International Monetary Fund before a crucial meeting of the 19 euro zone finance ministers in Brussels
Greece has submitted to its eurozone creditors a new bailout plan proposing a pensions overhaul and tax hikes in return for debt relief and a three-year rescue loan, a government source said early Friday.
Greece and the entire eurozone are in limbo as the country votes in a crucial referendum on bailout conditions on Sunday.
In a historic, rushed referendum that looks too close to call, Greece is voting whether to accept worsening austerity or back the government's rejection.
Greece has defaulted on the payment of 1.6 billion euros that it had to make to the International Monetary Fund (IMF) by the end of the day yesterday (i.e. June 30, 2015) This is the first instance of a developed country defaulting on a payment that it owed to the IMF.
Greece leaders pushing new terms for a possible third bailout
Anxious pensioners swarmed closed bank branches on Tuesday and long lines snaked outside ATMs as Greeks endured the first day of serious controls on their daily economic lives ahead of a 5 July referendum.
Banks and ATM machines were shut throughout Greece on Monday, the first day of capital controls announced by the government in a dramatic twist in the country's five-year financial saga.
An official at the European Union's executive branch said on Tuesday that the list of reform measures Greece has sent to its creditors in order to get final approval for a 4-month bailout extension "is sufficiently comprehensive to be a valid starting point."
The IMF and conflict-torn Ukraine have reached a preliminary deal on a new financial rescue plan worth $17.5 billion that could be a "turning point" for Kiev
After a long spell of losses, Air India had recorded a net profit of Rs 14.6 crore in December last on account of a healthy growth in both passengers and cargo revenues.
In the recent years, banks have been risk-averse to lend to the aviation sector on account of its high-risk nature, especially after the Kingfisher loan default