Sensex sheds 144 points, bank stocks sink

February 14, 2018 17:04

Benchmark Sensex succumbed to fag-end profit-booking to end 144 points lower today after banking stocks tumbled on RBI's new norms for recognising stressed assets.

Punjab National Bank plunged 9.81 per cent after the state-owned lender said it has detected fraudulent transactions worth USD 1.77 billion (about Rs 11,335 crore).

In a bid to hasten the resolution of bad loans, the RBI has tightened rules to make banks identify and tackle any non-payment of loans rapidly. The Reserve Bank of India abolished half a dozen existing loan-restructuring mechanisms and instead provided for a strict 180-day timeline for banks to agree on a resolution plan in case of a default or else refer the account for bankruptcy. -- PTI

« Back to LIVE

TOP STORIES

Meet Baldev Kumar from Punjab, first outsider to contest J-K LS polls

The abrogation of Article 370 in August 2019 paved the way for outsiders to contest polls in the Union Territory.

IPL PIX: Rahul, de Kock power LSG to easy win over CSK

Openers KL Rahul and Quinton de Kock hit fifties as LSG trounced CSK by eight wickets.

Phase 1 sees nearly 63% polling amid stray incidents of violence

"The voting percentage is likely to go upwards when reports from all polling stations are obtained as polling is scheduled till 6 pm in many constituencies. Final figures will be known on Saturday after the scrutiny of form 17A," the EC...

Manipur records 68% polling marred by violence, firing, booth capturing

At Thamnapokpi under Moirang constituency in Bishnupur district, armed men fired several rounds in the air near a polling booth prompting voters to flee, police said on Friday, adding additional security personnel were rushed to the spot...

Air India to soon have new crew management system

Air India will soon have a new crew management system that will help strengthen rostering rules and enable faster recovery from scheduled disruptions. In a message to the staff on Friday, Air India CEO and MD Campbell Wilson said that...