Union Bank of India Ltd

India's government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, three government sources said.

Punjab National Bank said on Thursday it had reported loans made to Dewan Housing Finance Corporation Ltd worth 36.89 billion rupees ($491 million) to India's central bank as "fraud."

The Indian government on Saturday announced its plans to divest a part of its stake in Life Insurance Corp (LIC) in a move that could result in the partial listing of the country's largest insurance company.

Deen Dyal, who runs a tea stall on the outskirts of New Delhi, was beaming when he walked out of a community hall where Punjab National Bank <PNBK.NS> was disbursing loans as part of government efforts to get credit flowing back into the economy.

India's bankruptcy-resolution process has just begun to find its feet with recent precedent-setting court rulings, but bankers, lawyers and insolvency experts say the system is about to face a huge test.

An Indian court on Wednesday allowed banks to recover some dues from shadow lender Dewan Housing Finance Corporation Ltd, granting relief to banks that had earlier been staring at a $5.6 billion hit to their books.

India's government has no plans to participate in the rescue of Dewan Housing Finance Corporation Ltd (DHFL), according to two sources involved in talks on how to restructure the shadow bank's near 1-trillion-rupee ($14 billion) debt.

India's government has no plans to participate in the rescue of Dewan Housing Finance Corporation Ltd, according to two sources involved in talks between bankers and officials over how to restructure the shadow bank's near 1-trillion-rupee ($14.08 billion) debt.

Nearly 300,000 employees of Indian state-run banks went on strike on Tuesday against government plans to consolidate the sector through mergers as part of efforts to ensure stronger balance sheets.

The resolution plans of debt-laden shadow lender Dewan Housing Finance Corporation Ltd (DHFL) have hit a roadblock after the custodian of DHFL bonds said on Thursday it is taking the firm to bankruptcy court on behalf of certain debenture holders.

Credit growth at Indian banks has dropped to its lowest level in nearly two years, the latest Reserve Bank of India (RBI) data shows, as slowing domestic consumption weighs on demand.

A plan to rescue India's debt-laden Dewan Housing Finance Corporation Ltd (DHFL) has hit a major roadblock as only a small segment of bondholders has agreed to be on board the proposed resolution, according to a custodian of DHFL bonds.

The Reserve Bank of India's move to compel lenders to link all new floating rate retail loans to external benchmarks is unlikely to achieve the intended goal of reducing interest rates sharply for consumers anytime soon, bankers and analysts said.

India announced a series of mergers involving 10 state-owned banks on Friday, as it moves to strengthen a sector struggling under a mountain of debt and ensure stronger balance sheets to boost lending and revive economic growth.

* 10 state-owned lenders will be granted additional funds (Adds analyst comments, details on governance reforms)

India announced a series of mergers involving 10 state-owned banks on Friday, as it moves to strengthen a sector struggling under a mountain of debt and ensure stronger balance sheets to boost lending and revive economic growth.

Bondholders of troubled shadow lender Dewan Housing Finance Ltd (DHFL) have been given a three-week deadline to decide if they are on board with a rescue plan being evaluated by banks, according to a letter sent by a custodian of DHFL bonds, seen by Reuters.

India's debt-laden shadow bank Dewan Housing Finance Ltd (DHFL) <DWNH.NS> has submitted a restructuring plan to its core committee of creditors (CoC), two sources involved in the matter said, adding that lead lenders were deliberating over the plan.

State-run Bank of India Ltd on Friday offered to sell a 25 percent stake in its joint venture company with Union Bank Of India Ltd and Japan's Dai-ichi Life Holdings Inc for up to 11.06 billion rupees ($159.87 million).