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.

Air India is just about managing to stay afloat on the Rs 30,000 crore bailout package extended by the previous UPA regime in 2012 for a decade.

Out of the 10 appointments, 5 are from the country's biggest lender, State Bank of India.

The rupee opened higher at 72.71 against its record closing low of 72.98 Tuesday and touched a session high of 72.34 in day trade as crude oil prices eased globally.

While the Bank of Baroda stock was trading 2.07% higher at 115.80 on the BSE, the Dena Bank stock fell 1.31% to trade at 18.85 level against the previous close of 19.10 level. On Tuesday, the Bank of Baroda stock closed 17.04% or 23 points lower on the NSE. On the BSE, the stock closed 16.03% or 21 points lower at 113 level.

On Tuesday, the rupee closed at its all time low of 72.98, falling 47 paise against the US currency due to surging crude oil prices and escalating trade war worries. Earlier in the day, the Indian currency hit a historic low of 72.99 in late afternoon deals.

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.

The BJP-led NDA government probably had the right intention when they knocked on the doors of Ravi Venkatesan, former chairman of Microsoft India and P S Jayakumar, an ex-citibanker turned entrepreneur, for helping them in conducting an experiment of sorts with Bank of Baroda.

Dena Bank was on RBI's Prompt Corrective Action (PCA) list and other two banks have the strength to subsume a weaker bank, Finance Minister Arun Jaitley said on Monday. 

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

The merged entity or amalgamated bank would be India's third largest.

If govt allows, I can sell petrol, diesel for Rs 35-40 per litre, says Baba RamdevAs petrol and diesel prices continue to break records every day, yoga guru Baba Ramdev has said if the government allows, he can sell petrol and diesel for just Rs 35-40 per litre. He also called for bringing petrol and diesel under the lowest slab of the uniform Goods and Services Tax (GST), and not the 28 per cent rate, as people's \"pockets are being emptied\". Raising questions over the governmen...

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.

This would be first charge sheet in the case pertaining to loans of over Rs 6,000 crore given to Kingfisher by a consortium of 17 banks led by State Bank of India which alone had an exposure of Rs 1,600 crore.

Rajnish Kumar further stated that SBI takes action with all alacrity and with very strong, proactive measures.

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.

While the government has refused to cut the high excise duty, some states like Rajasthan, Andhra Pradesh and West Bengal have cut VAT to pass on some relief to consumers.

In his letter to the parliamentary committee, the celebrated economist Rajan listed out the key reform areas to prevent recurrence of the kind of bad loan that the system is currently grappling with.

30s come pre-installed with all the worry of the future. Is buying that dress a good idea now, when you can save those extra bucks for your contingency fund? Should you buy that expensive phone, when you can put more than half of it in your retirement fund and still manage to buy an equally good phone?