The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
With their weak metrics and high bad loans, India's state-run banks have not been investor favourites
The stress in the banking sector, which mirrors the stress in the corporate sector, has to be dealt with in order to revive credit growth.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
As the clean-up has taken hold, loan growth slipped to 10.7 per cent in the last fiscal
Bankers and government officials told Reuters Rajan's successor may be less aggressive in fighting bad loans, but the general direction will remain the same
Finance Minister Arun Jaitley said in a Twitter post that the government appreciated all of Rajan's good work and respected his decision
Indian banks would have to make higher provisions for lending to large corporate borrowers above a certain level from next financial year, according to proposals published by the Reserve Bank of India (RBI) on Thursday.
State-owned banks account for more than two-thirds of the sector's assets and about 85 percent of bad debts
Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
The lenders, led by State Bank of India (SBI), are due to inform the Supreme Court of their decision on the offer at a hearing on Thursday.
Farmer suicides have nearly doubled in the drought-hit Marathwada region of Maharashtra.
Heineken could call a shareholder meeting to vote on his ouster from a company his father built into a family empire
The banks have asked the court to demand his return and to impound his passport.
The alleged fraud includes the use of fake bills.
Mallya will now be the Founder Emeritus of USL
Tata Motors is seeking an image makeover with the curvaceous hatchback, Zica.
Sahara has ploughed at least Rs 1,500 crore from two of its credit cooperatives into the Aamby Valley resort project
The government plans to inject a total Rs 70,000 crore into the lenders over four years
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