The country's largest lender State Bank of India on Thursday said it is not in a position to acquire more banks at the moment as it needs 2-3 years to see gains from the consolidation effected last year.

Rana Kapoor, who co-founded the bank with Ashok Kapoor in 2004, established the private bank's credentials and led it to rise above expectations. Its shares have seen a 25-fold rise in the past 13 years and have generated compound annual growth return of around 28 per cent.

In FY 2012, the bank had, by allegedly flouting its own lending norms, extended a Rs 3,250 crore loan to the Videocon group, which has since turned dud for the bank.

The government's latest measures to support the rupee announced last week were particularly underwhelming for market participants who have since increased bearish positioning on the currency.

India's largest law firm, Cyril Amarchand Mangaldas (CAM), is being scrutinized by CBI sleuths after they seized documents related to the $2 billion fraud at state-run Punjab National Bank (PNB) from CAM's premises in February

These three state-run banks would work on strict timeline and necessary regulatory process is expected to be over by the end of 2018-19, sources said.

Sebi Chairman Ajay Tyagi said that ICICI Bank has sought to settle the issues related to Chanda Kochhar through consent mechanism.

The merger of Dena Bank and Vijaya Bank with Bank of Baroda will create new challenges for the amalgamated bank.

India stands out on the global stage for fund raising through IPOs. The future looks promising too.

Gender diversity is missing in large areas of the financial services industry. There is no easy way out.

Lessons from the failure of some of India's biggest business names.

All sectoral indices ended in the green, led by realty, power, consumer durables and metals. Brokers said sentiment was bullish on continuous recovery in the rupee amid reports that the government may announce steps to prop up the domestic unit.

Benchmark Sensex rose around 373 points to reclaim the 38,000-mark as better-than-expected macro data and further recovery in the rupee triggered widespread buying. The NSE Nifty too breached the 11,500-level with a rise of 145 points. All sectoral indices ended in the green, led by realty, power, consumer durables and metals.Brokers said sentiment was bullish on continuous recovery in the rupee amid reports that the government may announce steps to prop up the Indian currency.The...

There are hundreds of private and government banks in India, but how much do they have in assets? Watch BusinessToday.In video on the 10 largest banks in India by assets and market capitalisation.

Kochhar, who has been away from office following an enquiry initiated under the retired Supreme Court judge BN Srikrishna late May but continues to hold onto her position as the managing director & chief executive, was absent from the AGM.

India pips Japan in GDP based on purchasing power parity; Raghuram Rajan blames 'over optimistic bankers' for bad loans, NPA mess; GAIL India aims to add 5,500 km gas pipeline in 3 years; and Deepak Kochhar summoned by Corporate Affairs Ministry in ICICI Bank-Videocon loan case. Watch this episode of Business Wrap.

Interpol issues red-corner notice against Nirav Modi's sister Purvi ModiAfter the Interpol issued a red-corner notice (RCN) against a close aide of diamantaire fugitive Nirav Modi, Mihir Bhansali, it has issued another notice against Purvi Modi, who is a Belgian national and the sister of Nirav Modi. The RCN has been issued on the request of the Enforcement Directorate to the Interpol, as the ED seeks to interrogate her on the alleged charges of 'money laundering'.After Bharat Ban...

Indian IT services companies could see improvement in margins by as much as 100 basis points in their second quarter results due to the depreciating rupee.

As global tech giants slug it out to take a bigger piece of India's booming digital payments pie, Facebook-owned messaging service is reportedly scouting for talent to lead its payments team.

NuPower Renewables and NuPower Wind Farms are among the six companies whose books are being inspected by the ministry.