TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The Market open positive note on monday after losing more than 6 percent in previous

week. The Nifty climbed 97.65 points or 1.40 percent to 7078.After a tumultuous ride last week, the market

gained strength with support from metals, auto, capital goods and oil & gas sectors mostly. Posting its

biggest rally of gain in a month, Global markets are currently in an oversold territory due to concerns

regarding commodity prices, muted emerging markets economic growth, and slowdown in China, The

China central bank fixed the yuan sharply stronger, easing fears of depreciation, Oil briefly rallied in the

overnight session after Saudi Arabia, Russia, and Venezuela lead an effort to freeze output at January

levels, dashing hopes of a cut in production. Due to sluggish demand and concerns over the global

economic outlook. However Chinese markets will remain volatile for next 3-4 months. It is a sea of red

across Dalal Street from Tuesday as investors gear up for Union Budget .The crucial levels for Nifty is

6700 down side and 7200 is Up side the weekly Resistance for Nifty is 7269-7409 and the weekly Support

is 7129-6989.

BANK NIFTY : - The Bank Nifty open in Positive trend on Monday trading session at 15206 up by 44

points or 0.6 per cent. The Bank Nifty is currently trading at 14425 up by 442 point or 3.17 per cent. Bank

shares have remained a pain point for the stock market over the past one year – set by NPA issues and weak

credit demand –State-run banks like SBI, Bank of Baroda, Central Bank of India, apprise PM Narendra

Modi of rising bad loans, capital requirements of state-run banks and the impact of bad loans on their

profitability were discussed. We are expecting the positive movement for Bank Nifty in upcoming weeks.

The Support for Bank Nifty Is 14320-13800 and Resistance is 14600-15020.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

7409 7269 7199 7129 6989

WEEKLY R2 R1 PP S1 S2

7927 7399 7135 6871 6343

MONTHLY R2 R1 PP S1 S2

9419 7959 7229 6499 5039

BANK NIFTY

DAILY R2 R1 PP S1 S2

14329 14313 14305 14297 14281

WEEKLY R2 R1 PP S1 S2

16275 14937 14268 13599 12261

MONTHLY R2 R1 PP S1 S2

19833 16329 14577 12825 9321

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7311 7532 7767 8011

BANK NIFTY 14816 15655 14490 17276

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7286 7675 8297

BANK NIFTY 14650 16770 19185

PATTERN FORMATION ( NIFTY AND BANK NIFTY )

Depiction of Chart On the On the Above given weekly chart of Nifty Applied Bollinger Band along with Parabolic SAR. And the

Bollinger Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level it has given the Gap up

opening which is indicating the Bull movement for the Nifty the crucial Support for Nifty is 7200-7000 and the Resistance for Nifty is

7250-7280, if the Nifty is able to break the level of 7250 we may witness the level of 7350 for next week.

BANK NIFTY MACD

Details of Chart On the Above given weekly chart of Bank Nifty applied Bollinger Band along with Parabolic SAR. and the Bollinger

Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level it has reverse on Bull side on the

other hand on the creating dot Upside which is the clear signal towards the Bull Market For The Bank Nifty , however the Bank Nifty

crucial Support is 14200 and the Resistance is 14500. if the Bank nifty is crossing the 14300 level we may witness the 14500-14800

Levels.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1288 1280 1264 1256 1240

ALBK EQ 46 45 43 42 40

AMBUJACEM EQ 196 195 195 194 194

ASIAN PAINT EQ 867 859 844 844 836

AXISBANK EQ 399 396 393 390 387

BAJAJ-AUTO EQ 2493 2474 2440 2421 2387

BANKBARODA EQ 144 141 139 136 134

BANKINDIA EQ 92 89 86 83 80

BHEL EQ 109 105 102 98 95

BHARTIARTL EQ 333 329 323 319 313

CIPLA EQ 536 530 524 518 512

COALINDIA EQ 320 316 313 309 306

DLF EQ 91 90 87 86 83

DRREDDY EQ 3133 3102 3073 3042 3013

GAIL EQ 333 329 321 317 309

GRASIM EQ 3469 3449 3430 3410 3391

HCLTECH EQ 875 865 846 836 817

HDFC EQ 1076 1067 1057 1048 1038

HDFCBANK EQ 998 993 983 978 968

HEROMOTOCO EQ 2770 2735 2669 2634 2568

HINDALCO EQ 71 70 69 68 66

HINDUNILVR EQ 842 834 824 816 805

ICICIBANK EQ 204 202 198 196 192

ITC EQ 309 307 304 302 299

INDUSIND

BANK

EQ 854 848 841 835 828

INFY EQ 1147 1140 1126 1119 1105

JINDALSTEL EQ 62 60 57 55 53

KOTAKBANK EQ 645 638 631 624 617

LT EQ 1187 1170 1150 1133 1113

M&M EQ 1274 1252 1227 1205 1180

MRF EQ 33971 33755 33382 33166 32793

MARUTI EQ 3676 3631 3596 3551 3516

ONGC EQ 216 213 210 207 204

ORIENTBANK EQ 87 85 83 81 79

RCOM EQ 52 51 50 49 49

RELCAPITAL EQ 345 341 335 331 325

RELIANCE EQ 959 951 944 936 929

RELINFRA EQ 428 423 417 412 406

RPOWER EQ 46 45 45 44 43

SBIN EQ 170 167 162 159 154

SSLT( VEDL) EQ 77 76 74 73 72

SUNPHARMA EQ 877 870 864 857 851

TATAMOTORS EQ 325 322 316 313 307

TATAPOWER EQ 61 60 59 58 57

TATASTEEL EQ 259 256 251 248 243

UNIONBANK EQ 122 119 116 113 110

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NSE FUTURE :

ZEEL FUTURE : ZEEL FUTURE OPEN AT 377.15 AND MADE HIGH OF 387 MOVES IN BULLISH

TREND WE CAN EXPECT BULLISH TREND IN IT. MADE LONG POSITION ABOVE 390 TGT 430

SL 383.

VOLTAS FUTURE : VOLTAS FUTURE MOVES IN BULLISH TREND TODAY. WE CAN MADE

LONG POSITION IN IT ABOVE 242 TGT 260 SL 235.

ALBK FUTURE : ALBK OPEN AT 42.60 MADE HIGH OF 44.65 MOVES IN BULLISH TREND ON

DAILY CHART OF IT ALSO SUGGEST BULLISH TREND. WE CAN MADE LONG POSITION IN

ALBK ABOVE 45 TGT 60 SL 40.

NMDC FUTURE : NMDC MOVES IN BULLISH TREND TODAY ON DAILY CHART OF IT ALSO

SUGGEST BULLISH TREND WE CAN EXPECT FURTHER UPSIDE MOVEMENT IN ABOVE 92

TGT 100 SL 85.

BEL FUTURE : BEL FUTURE MOVES IN BEARISH TREND TODAY WE CAN MADE SHORT

POSITION IN BEL FUTURE BELOW 1120 TGT 1000 SL 1135.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 UNITED LTD. 4.90 3.81 -22.24 %

2 SHIPPING CORPN. 74.00 58.10 -21.49 %

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3 BHEL 128.05 101.90 -20.42 %

4 ALOK INDUSTRIES 4.85 3.86 -20.41 %

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6 PI INDUSTRIES 650.05 557.00 -14.31 %

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7 DELTA CORP LTD 65.30 56.40 -13.63 %

8 ADANI

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72.65 63.00 -13.28 %

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9 ORIENTAL BANK

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95.80 83.70 -12.63 %

10 VOLTAS LTD 269.20 237.05 -11.94 %

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11 WELSPUN CORP 95.50 84.15 -11.88 %

12 PAGE INDUSTRIES 11584 10215 -11.82 %

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13 B F UTILITIES LTD 484.60 429.75 -11.32 %

14 ADITYA BIRLA

NUVO

833 740 -11.10 %

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0 15 MMTC LTD 38.80 34.90 -10.05 %

SR.NO SCRIPT NAME PREV

CLOSE CMP % CHANGE

1 BANK OF BARODA 117.45 139.65 +18.90 %

2 CAIRN INDIA LTD. 117.75 130.70 +11.00 % 1. C

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3 VEDANTA LTD 67.40 74.50 +10.53 %

4 NMDC LTD 83.95 92.55 +10.24 % 6. N

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5 TATA MOTORS LTD. 291.85 317.05 +8.63 %

6 IDEA CELLULAR 100.10 108.50 +8.39 % I

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7 ADANI POWER LTD 25.80 27.80 +7.75 %

8 TATA STEEL 235.65 253.45 +7.55 % T

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10 APOLLO TYRES 149.50 160.60 +7.42 % A

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12 CYIENT LTD. 395.30 422.20 +6.80 % C

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14 PIDILITE INDS. 587.20 625.20 +6.47 % P

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NSE CASH :

PRAJIND NSE CASH : A HIGHER LOWS FORMATION CAN BE SEEN ON DAILY CHARTS OF

PRAJIND WHICH SHOWES SOME STRENGTH IN TECHINICAL STRECTURE. A SHORT RALLY

CAN BE SEEN ABOVE THE LEVEL OF 82.LONG POSITION CAN BE MADE ABOVE 82 FOR TGT

OF 90 AND SL OF 79.

ARSSINFRA CASH : LONG POSITION CAN BE MADE IN ARSSINFRA ABOVE 32 FOR TGT

OF 35 AND SL OF 30.75.

COX&KINGS CASH : LONG POSITION CAN BE MADE ABOVE 164 FOR TGT 177 AND SL 158

RESPECTIVELY.

RUSHIL CASH : LONG POSITION CAN BE MADE IN RUSHIL ABOVE 272 FOR TGT AND SL OF

296 AND 263 RESPECTIVELY .

FORTIS CASH : FORTIS GAINED ABOUT 12% ON FRYDAY. LONG POSITION CAN BE MADE

ABOVE 182 FOR TGT AN SL OF 199 AND 176 RE

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

PM calls Rajya Sabha, Lok Sabha leaders to discuss Budget session - Prime Minister

Narendra Modi has called for a meeting of leaders from major political parties to seek

their cooperation for the smooth running of Parliament during the Budget session

beginning next week. The Budget Session of the Parliament will begin on February 23.

The first session will continue till March 16 the second session will take place from April

25 to May 13.

New crude import policy for spot purchases soon: Oil Minister - Union Minister for

Petroleum & Natural Gas, Dharmendra Pradhan on Monday said that his ministry will

soon move a cabinet note on crude import policy that will do away with tendering and

allow spot purchases. Under the tendering route, the country normally pays higher prices

and suffers delays while a system of spot purchases will ensure better delivery at lower

prices.

Draghi says ECB won't hesitate to act in March - The European Central Bank will not

hesitate to act to boost its stimulus in March if it believes that recent financial-market

turmoil or lower oil prices could weigh further on consumer prices, ECB President Mario

Draghi said on Monday.“The ECB is ready to do its part,” Draghi told the European

lawmakers in Brussels. Last month, Draghi had stated that the central bank would review

and possibly reconsider stimulus to drive up stubbornly low inflation.

Raghuram Rajan says not in favour of undervaluing exchange rate - The Reserve

Bank of India and the government don’t favour undervaluation of the exchange rate, RBI

Governor Raghuraman Rajan reportedly said. “There are those who argue that in

countries such as China, Japan and Korea business enterprises grew via an undervalued

exchange rate,” Rajan was quoted as saying at the India MSME Summit-2016. The

exchange rate will not be a source of either comparative advantage or disadvantage,

Rajan said. Rajan reportedly said that RBI wants the exchange rate to be reasonably

predictable and reasonably stable.

ASSOCHAM Reaction: WPI for January 2016 - Apex industry body ASSOCHAM

today said that fall in continuous fall in India’s wholesale prices is in line with industry’s

expectation due to multiple factors like decline in prices of crude oil and other

commodities, global weak demand, negative sentiments resulting from global economies

such as China and Japan, continuous decline in exports and others.

FIPB approves 10 FDI proposals worth Rs. 607 crore - FIPB on Monday approved 10

FDI proposals worth Rs. 607 crore, says report. FIPB also approved Glenmark Pharma,

Cipla, DEN Networks' FDI proposals.

While FIPB defered 8 & rejected 5 FDI Proposals.

Non-tax receipts top Rs 2 lakh crore: Finance Ministry - Government has collected

over Rs 2 lakh crore as non-tax receipts in the current fiscal, with biggest pie coming

from the dividends paid by state-owned firms and the Reserve Bank. It had budgeted over

Rs 2.21 lakh crore for 2015-16 from non-tax receipts, which include dividends, profits

and interests receipts. "Annual collection of non tax receipts is over Rs 2 lakh crore.

Biggest share flows from dividends paid by Public Sector Undertakings, RBI," a finance

minister said.

WPI inflation to inch up to 2% by March 2016, says CARE – Headline deflation

witnessed a significant moderation for the fifth consecutive month. WPI was recorded at

negative 0.90% for Jan’16 compared with -0.73% in the previous month and -

0.95%recorded in the corresponding period of the previous fiscal However, the persistent

rise in prices of primary articles for five consecutive months has been the main

component building the inflationary pressure.

Chinese companies and banks face rising risks as economy rebalances: S&P -

China's growth is steadying and rebalancing, thus shifting the focus to consumption. At

the same time, rising credit costs and weakening profitability in China's banking sector

are tightening liquidity for weak corporate borrowers. Can consumption stay strong and

how will this affect China's central and regional governments, financial institutions, and

its various industries.

Can FM afford the much-needed rural focus in budget - One thing almost every

economist analysts agree in their projections for the Union Budget is that the Finance

Minister should turn his focus on the rural sector this time around after two years of failed

monsoon, which along with a slowdown in the government's flagship scheme MNREGA

and slower rise in minimum support prices for agro-commodities left the rural economy

in the shambles, drying up demand for consumer durables and bikes and cars, which has

in turn hit toplines of a vast part of India Inc.

FIIs sell shares worth Rs. 1,123 crore; 2016 net selling reaches US$ 2.1 billion - In

the wake of rising uncertainty over the health of world economy, the foreign investors

continued their net selling in Indian equities on Tuesday, which dragged the equity

market. According to the Central Depository Services India Ltd data, the Foreign

Portfolio Investors were net sellers to the tune of Rs. 1,123.05 Crore in equities on

Tuesday. FPIs were net sellers of Rs. 526.82 crore in debt segment. This made their total

net selling in Indian securities market to Rs. 1,649.87 crore in a single day.

Moody's sees India's GDP growth at 7.5% in 2016-17 - Moody's reportedly said it

expects that the government will cut spending to maintain deficit in line with 3.5% of

GDP. Moody's forecast stable GDP growth for India at around 7.5% in 2016-2017. The

firm warned the generally robust economic environment is constrained by “banks’

balance sheet repair, says report. Moody's said that India's economy is powered by

sustained growth in consumer spending.

US cos may line up $27 billion investments in India in two years: USIBC - American

companies invested an over $15 billion ever since the Narendra Modi government came

to power and are expected to further increase the investments by $27 billion in the next

two years, according to US-India Business Council (USIBC). "The reforms undertaken

by India in the last two years under Prime Minister Modi's leadership are resonating very

well with the US companies," USIBC President Mukesh Aghi said today.

Make In India Week: Rs. 15.2 lakh crore commitment by corporates - First ever

Make In India Week in Mumbai with the biggest show of manufacturing prowess,

concluding on a high note. Created avenues for showcasing, connecting and collaborating

for manufacturing in India Promoted an Investment enabling environment Provided

encouragement to to Design, Innovation, Youth and Startups Provided a platform where

global CEOs, think tanks, policy makers, Diplomats and Political leaders converged

Addressing the Closing Press Conference in Mumbai, the Make In India Week witnessed

a business commitment of Rs 15.20 lakh crore in investment.

TOP ECONOMY NEWS

India's exports in January fell 13.6% from a year earlier to $21.07 billion, declining for

the 14th consecutive month; contraction in imports narrowed the trade gap to an 11-

month low.

Wholesale price inflation touched -0.90% in January, compared with -0.73% in the

previous month, holding in the negative zone for 15 months in a row, showed official

data released on Monday.

The department of telecommunications has allowed sharing of active telecom

infrastructure including antenna, feeder cable and transmission systems, a move that will

lower costs for telecom operators and lead to faster roll out of networks.

Continuing its efforts to gain lost ground in the rural and semi-urban areas in recent local

body polls, the Gujarat government on Monday announced a dedicated policy for cottage

and village industries.

The Coal Ministry is likely to come out with the approach paper for formulating a

detailed policy on commercial coal mining by March this year.

The combined GDP of almost 4.7 trillion that ASEAN and India bring together defines

one of the most important economic spaces to impact the lives of nearly two billion

people. With the coming into force of ASEAN Economic Community on 31st Dec 2015

and the expected conclusion of RCEP negotiations this year, the India ASEAN

relationship is expected to receive a shot in the arm.

Passenger car shipments from India declined 18.85% to 33,909 units in January due to

challenges in top export markets like Algeria, Europe and neighboring countries.

The telecom ministry has proposed a 10-year tax holiday for mega projects in the sector

as part of its recommendations for the upcoming Union Budget that are aimed at

attracting fresh investments for the Make in India programme.

Natural gas prices in India are likely to decline 17% in April to $3.15 per unit, further

straining economics of developing discoveries in deep sea.

Trai will set inter-connection charges for Voice over Internet Protocol calls once the

Department of Telecom amends the relevant clause of the Unified Licence framework.

India has completed most of the consultation process related with the WTO trade

facilitation agreement and the government expects to ratify it soon.

India is growing at a decent rate considering the overall economic scenario of the world.

A 7% plus growth rate where most economies are slowing or contracting is definitely

something to cheer about. But, what is confusing most people is the discrepancy between

the IIP growth rates and the GDP growth rates.

Indian Steel Association, industry lobby group which includes top steel producers like

Tata Steel, SAIL, JSW Steel, Essar Steel and RINL as its members, has urged the

government for a financial package for the steel industry, in line with similar support

extended to sugar and textile sectors.

The Employee Provident Fund interest rate for 2015-16 has been increased to 8.80%

from 8.75%.

India's 12 major ports saw cargo traffic increase by 3.36% to 499.23 million tonnes

during the first 10 months of current fiscal.

Cellular Operators Association of India has asked Department of Telecommunications,

to retain the block size for spectrum in 2,300 MHz and 2,500 MHz bands at 20 MHz

instead of 10 MHz as suggested by telecom regulator Trai.

Continuing its efforts to gain lost ground in the rural and semi-urban areas in recent local

body polls, the Gujarat government on Monday announced a dedicated policy for cottage

and village industries.

The Coal Ministry is likely to come out with the approach paper for formulating a

detailed policy on commercial coal mining by March this year.

The Gujarat government is expecting over Rs 40 billion worth investment commitments

in tourism sector during its upcoming event Vibrant Gujarat International Travel Mart

2016.

Oil Marketing Companies have slashed prices of petrol by 32 paise/ liter and raised

diesel rates by 28 paise/liter in order to align the domestic rates of the automobile fuels

with global benchmarks.

India has identified 100 blocks for exploration by private companies the government

wants to boost mineral output and cut dependence on overseas purchases.

TOP CORPORATE NEWS -

Mahindra & Mahindra plans to invest Rs 80 billion on its automotive plants in

Maharashtra over the next seven years as part of its expansion plans.

The US FDA in its observation has found major anomalies – including systemic data

manipulation and manufacturing norm violations – at the three plants of IPCA

Laboratories.

Prestige group is in final talks to sign a joint development with a local builder in Pune to

set up an Infotech park in the city.

Biocon has received its first generic formulation approval in Europe, paving the way for

the company to launch Rosuvastatin calcium tablets in several European countries.

Tata Consultancy Services has been recognized as the UK's top employer by the Top

Employers Institute. TCS has a UK workforce of more than 11,000 employees based

across 30 locations.

JSW Group is looking to buy distressed port assets in the country as part of a strategy

for a massive expansion of its ports capacity.

Vedanta Limited has reached an understanding with the Government of Odisha to

commission an aluminum park in Jharsuguda. The two sides reached an intention sharing

on the sidelines of the Make in India Week in Mumbai and a MoU would be signed in

few months.

BHEL Limited has commissioned a 101-MW gas-based combined cycle power plant on

engineering, procurement and construction basis in Tripura.

Yes Bank has signed an agreement with the Indian Renewable Energy Development

Agency to foster renewable energy development in India.

ONGC will cut down expense on travel, advertisements and sponsorships as well as 5-

star meetings as it initiates cost controls in response to revenues getting hit by slump in

global oil prices.

Reliance Jio Infocomm has teamed up with eight leading global carriers including British

Telecom, Deutsche Telekom, Millicom, MTS, Orange, Rogers, TeliaSonera and TIM to

forge an international operator alliance to rapidly bring innovative products and services

in their respective markets, and exchange industry best practices.

The Income Tax Department has extended till March 31 the bar on UK's Cairn Energy

plc selling its residual stake in erstwhile subsidiary Cairn India as the Rs 10,247 crore tax

dispute lingers on.

Tata Steel SEZ today said it plans to invest about Rs 2,000-2,500 crore for development

of infrastructure at Gopalpur in Odisha in the near term.

Allcargo Logistics reported a 14.30 per cent decline in net profit at Rs. 61.51 crore for

the quarter ended December 2015 due to decline in income.

HCL Technologies has bagged the largest outsourcing contract in recent times from

Swedish auto maker Volvo Group, with the deal valued at over $ 2.8 billion spread over

five years.

Punj Lloyd announced winning oil & gas EPC orders worth Rs 2070 crore from Oman

Oil Refineries and Petroleum Industries Company and Oman Gas Company which are

owned by the Government of the Sultanate of Oman and Oman Oil Company SAOC.

Idea Cellular is planning to extend its 4G LTE services to two more markets -

Maharashtra and Goa, and Northeast - by March 2016, and expand its footprint to cover

750 cities across 10 telecom circles by June.

DLF Ltd. is aiming to increase its office and retail supply to 36-40 million sq ft in the

next two to three years.

United Breweries Ltd, in which liquor baron Vijay Mallya is a majority owner, has said

that Punjab National Bank has declared the company as a "willful defaulter".

Inox Wind has bagged 100-MW wind power project order from Tata Power Renewable

Energy Limited at Rojmal, Gujarat.

GSK Pharmaceuticals is undertaking a Rs 5 billion upgradation of its unit in Nashik to

expand its portfolio of thyroid and dermatology products.

Bharat Petroleum Corp Ltd has received clearance from the Environment Ministry for

a Rs 3.3 billion project at its Kochi Refinery in Kerala.

Dr Reddy's Laboratories Limited, which currently has free cash flows of about Rs 25

billion, has set a growth agenda to tap organic and inorganic opportunities, according to

its chief financial officer.

Tata Motors have reportedly bagged a project to supply 25 units of its BS IV-compliant

Starbus Hybrid bus to Mumbai Metropolitan Region Development Authority. The bus

was showcased at the recently concluded Auto Expo 2016.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

ICICI Bank today announced the launch of a virtual mobile app development challenge,

India’s largest mobile app development initiative by a bank. Christened ‘ICICI

Appathon’, the programme aims to attract developers, technology companies, startups,

technopreneurs and students to create the next generation of banking applications on

mobile.

Till now, the general consensus has been that SLR requirements are a blessing-in-

disguise for banks as it helps reduce liquidity risks in the banking sector. Currently, RBI

requires banks to put 21.5% of their deposits in government bonds under the SLR

category.

SBI Chairman, Arundhati Bhattacharya, states that NPAs are expected to rise in the next

quarter and affect profits. She also states that the bank will evaluate the current NPA

situation and look at how to deal with the rising NPAs after March.

The Reserve Bank of India and the government don’t favour undervaluation of the

exchange rate as a means to spur economic growth, RBI Governor Raghuraman Rajan

said. “There are those who argue that in countries such as China, Japan, and Korea

business enterprises grew via an undervalued exchange rate,” Dr. Rajan said.

HDFC Bank customers will soon be able to pay at credit card swipe machines using

sound from their handsets. The private bank has become the first to sign up with

Bengaluru-based startup Tone Tag to provide a phone-based proximity payment service

that requires neither special handsets nor any new acceptance device.

Country's fifth-largest private lender Yes Bank today signed an agreement with the

Indian Renewable Energy Development Agency to foster renewable energy

development in India.

Prime Minister Narendra Modi met senior finance ministry officials last week to take

stock of rising bad loans at state-run banks.As part of its balance sheet clean-up exercise,

state-owned Punjab National Bank plans to sell up to Rs 3,000-crore bad loans to asset

reconstruction companies in the fourth quarter.

Standard & Poor's Ratings Services has affirmed its 'BBB-' long-term rating on Union

Bank of India on expectations that the government will infuse capital into the lender.

State Bank of India has informed the BSE that the bank has raises Rs. 3,000 crore via

bond issue with 10 year tenure, bearing 8.45% p.a. coupon and with call option after 5

years, aggregating to Rs.3,000 crore on private placement basis.

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