Total income of Punjab National Bank stood at Rs 10,955.73 crore during the Jan-March quarter, up 27.6 per cent.

With the reduction in rates, ICICI Bank's base rate stands at 9.75 per cent while it is 10.50 per cent in case of PNB.

The stock index, which had gained nearly 300 points in last three trading sessions, advanced further by 111.32 points on Thursday.

The BSE benchmark Sensex on Tuesday recovered nearly 43 points, snapping 3-session losing streak, as investors picked up bluechips available at lower levels after recent declines.

SBI, the country's biggest lender, gained 3.76 per cent while ICICI Bank was up 3.13 per cent on the BSE.

Promoters get a free hand to play around with investors' money because there are many regulatory gaps in monitoring IPO proceeds.

The capital infusion would raise government's stake in the bank. At present, the Government of India holds 58 per cent stake in PNB.

The Securities and Exchange Board of India plans to refer cases of irregularities in initial public offerings by some companies to the Enforcement Directorate and the income tax department.

Cracking whip against seven firms for not complying with the disclosure norms in their IPO prospectus, Sebi bars the companies, their directors, merchant bankers and other related entities from participating in the securities market till further order.

Brisk buying of gold coins and jewellery by consumers on the auspicious day of Dhanteras pushed up prices of the yellow metal in Delhi.

The 30-scrip BSE barometer, which had gained 466 points in the last three trading sessions, fell 188.48 points to 16,745.35 as stocks of capital goods and banking sectors suffered notable losses.

Banking stocks bore the brunt of a steep hike in key rates: SBI, the country's largest bank, plunged 2.86 per cent, largest private lender ICICI Bank fell 3.13 per cent, HDFC Bank 1.44 per cent, Yes Bank 3.98 per cent and PNB 2.70 per cent.

Interest rate sensitive realty, bank and auto stocks plunge on the BSE after the RBI hiked short-term lending and borrowing rates sharply by 50 basis points.

The banking sector may not be the hot spot to be in right now, but watch out for cues on when to get in.

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Total income rose 31.2 per cent to Rs 8,586 crore in the latest quarter compared to Rs 6,460.7 crore in the same period last year.

An average of one rupee was added to the stock market wealth of each public investor in every minute of trade during the last fiscal - a period that saw the total market wealth grow by over Rs 6.73 lakh crore.

The bank has decided to revise interest rates on single domestic term depsoit for Rs 1 crore to Rs 10 crore from December 1, it informed the Bombay Stock Exchange.

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