NAINITAL BANK
Uttarakhand: Surge in Ganga water level amid heavy rains, administration on alert
As the water level of the river reached the Triveni Ghat Aarti Sthal, the State Disaster Response Force (SDRF) issued an alert for travellers and warned them to avoid staying at the ghats at night.
A week of hits and misses in fintech; and other top tech, startup stories
Hi, this is Pratik Bhakta in Bengaluru. It’s been a busy news week for us here at ETtech covering some of the most important stories in the fintech space. We had a string of big exclusives, wrapping it up here just in case you missed reading them.
Premji Invest in talks to pick up big stake in Bank of Baroda’s Nainital Bank
Premji Invest in talks to acquire majority stake in Nainital Bank at around Rs 800 crore. Public sector lender Bank of Baroda, which owns around 98% of Nainital Bank, is expected to divest its entire shareholding
Premji Invest eyes Nainital Bank stake; Ranjan Pai may back Rupeek
Happy Friday! Azim Premji’s family office is eyeing a majority stake in Bank of Baroda-owned Nainital Bank. This and more in today’s packed edition of ETtech Morning Dispatch.
FD interest rate up to 9.5%: Banks offering highest FD interest rates for senior citizen investors
Best senior citizen FDs: Seniors can increase the growth of their savings at a higher rate with senior citizen FD rates without having to take on more risks. Here are banks offering best rate for senior citizens fixed deposit interest rates.
Up to 9% interest rate: Corporate FDs vs bank fixed deposits; Which offers higher interest rate?
What is a corporate FD: Similar to bank fixed deposits, corporate FDs provide interest earnings and offer flexibility in choosing the investment amount and duration. Fixed Deposits serve as a popular choice for long-term investments, particularly for older investors aiming for a secure retirement. The tenure period plays a crucial role in determining when investors will receive returns before maturity. In corporate fixed deposits, the tenure typically ranges from six months to 5 years, offering a shorter duration compared to bank fixed deposits.
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Travel demand hits a peak as Delhiites head out for fresh air
“The last few days were terrible,” said a 39-year-old banking professional who is making the most of the school closure to head out with her businessman husband and 8-year-old daughter to Goa. “We were planning to go somewhere within driving distance but all the nice places were sold out. Last-minute Goa hotel bookings were expensive but it’s worth it,” she said, requesting not to be identified.
Bank of Baroda seeks buyers for its NZ subsidiary
Bank of Baroda (BoB) is looking for buyers for its New Zealand subsidiary, Bank of Baroda (New Zealand) Ltd (BoB NZL). The bank has requested interest from potential investors and investment banks to help find a buyer. BoB NZL, established in 2008, is the first Indian bank in New Zealand and has two branches in Auckland and Wellington.
From Openings to Salaries: India's Dynamic Digital Marketing Scene
India's digital marketing industry is experiencing significant growth, offering great opportunities for businesses. With a large population and a high number of mobile and social media users, India's digital marketing sector has expanded rapidly. The country's digital transformation, driven by initiatives like the Digital India program, has led to impressive internet penetration. This growth has created avenues for businesses to effectively engage with their target audiences. The digital marketing market in India is projected to reach a valuation of $160 billion by 2025, indicating continued growth and increased career prospects in the industry.
Delhi HC refuses to interfere with Bank of Baroda's decision inviting EoI for sale of NBL stake
The judge, in an order passed on May 2, said divestment is a policy decision involving complex economic factors, and courts have consistently refrained from interfering with economic decisions.
Delhi High Court refuses to interfere with Bank of Baroda’s plan to sell majority stake in Nainital Bank
The Delhi High Court has refused to interfere with state-owned Bank of Baroda’s (BoB) plan to sell its majority stake in Nainital Bank. The court stated the decision of divestment based on economic expediencies is a policy decision involving complex eco-factors that could not be overturned by the courts.
Nithin Kamath to Rachana Ranade to Dhruv Rathee: 10 ordinary people who have redefined financial success
On the 12th anniversary of ET Wealth, meet 10 people from ordinary walks of life who have redefined financial success.
Stocks in the news: Yes Bank, Ultratech, Axis Bank, Paytm, Bank of Baroda and HDFC twins
Yes Bank said private equity majors Carlyle Group and Advent have picked up 9.99 per cent stake in the bank. The two private equity funds together would pump in about Rs 8,896 crore in the lender.
BoB proposes to sell its majority stake in Nainital Bank
BoB currently holds 98.57 per cent of the total equity share capital of NBL. Details about the process of transaction are given in the PIM, which will be published on Wednesday for inviting EOI from bidders, it said.
PM Modi likely to launch 75 digital banks on August 15
"All 75 districts have been finalised and allocated to respective banks to set up the infrastructure and train manpower for these specialised units," said an executive aware of the developments.
Investment options or cryptocurrency, tie-wearing uncles are leading the advice-doling department (of tricks)
Nowhere is this bigger than cryptocurrencies, advertised by Bollywood stars and comedians, both custodians of wise financial planning. Various celebrities have been marketing bitcoin as 'safe and assured,' which just proves, actors will read out any script without understanding a word, as long as they are paid in real coin.
Centre inks two loan pacts of Rs 2,074 crore with Asian Development Bank
The government and the ADB signed a USD 150 million (around Rs 1,132 crore) loan agreement to provide access to inclusive, resilient, and sustainable housing for the urban poor in the state of Tamil Nadu. Separately, a USD 125 million (around Rs 942 crore) loan was inked to improve access to safe and affordable drinking water supply and citywide inclusive sanitation services in Dehradun and Nainital cities in Uttarakhand, the release said.
RBI imposes Rs 56 lakh penalty on The Nainital Bank
There was a divergence between bank's reported NPAs and NPAs assessed during the inspection on account of failure to classify certain borrower accounts as NPA. There was also a failure to disclose material divergences relating to asset classification and provisioning identified by the RBI, despite exceeding the defined threshold, in the Notes to Accounts, the RBI said in a statement.
BSP's outreach to Brahmins vote-bank politics: Uttar Pradesh BJP president
Interacting with people at Valmiki Basti in Indranagar here, he also accused the two parties of handing over the state to criminals during their rule.
Live in a golf-themed holiday home in the hills of Nainital
Sunny Lake Green is a project by the Shikhar Group, one of the fastest growing names in real estate.
FIR against journalists can't be revived by interim order, SC tells Uttarakhand government
The accusation pertained to alleged money transfer to the accounts of relatives of Rawat in 2016 to support the appointment of a person as head of 'Gau Seva Ayog' of Jharkhand when Rawat was the in-charge of BJP unit there.
A soil-free success: Aquaponic agriculture on the rise
Aquaponic and hydroponic methods of agriculture are gaining popularity at a time when traditional farming is becoming non-remunerative, water increasingly scarce and soil less fertile.
Bank of Baroda reports Q4 loss of Rs 3,102 crore as provisions spike
Provisions for bad loans jumped to Rs 7,052 crore from Rs 2,425 crore last year.
BoB may sell stakes in units
“Bank of Baroda’s decision is in line with the larger strategy to shed non-core assets"
Nainital Bank is said to be put up for sale by Bank of Baroda
Bank of Baroda joins government-run rivals including State Bank of India and Punjab National Bank in efforts to raise funds by selling non-core assets.
Turn off the work mode! Visit Nainital’s beautiful lakes and gardens
Amongst the many lakes, Bhimtal is one of the most serene places to visit near Nainital.
Employees of HMT are refused loans at banks
Most of the workers, recruited in the late ’80s, were under-graduates but they had many an asset: a secure government job, a good pay-scale.
Over 3.70 lakh complaints against banks in five years
The data received shows that 3,70,543 complaints have been received by 15 banking ombudsman during 2009-10 to 2013-14.
CIC members reveal asset details online
In a complete turnaround of its earlier stand, members of Central Information Commission have made the details of their assets public on Wednesday.
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