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Key benchmark indices keep on to rise in the afternoon session driven by a strong rally in PSU Bank stocks.

Public Sector Undertakings (PSUs) will now have to compulsorily follow corporate governance norms as per a government decision on Thursday.

The idea of giving 20 percent reservation to small units in public sector (PSUs) under the procurement policy will come into reality by mid of next month, said Dinsha J. Patel, Minister of State (Independent Charge) for Micro, Small and Medium Enterprises (MSME) in the national capital on Tuesday.

The government has approved Rs.15,000 crore ($3.34 billion) as capital infusion for public sector banks for the current fiscal and said further assistance for the next fiscal would be decided later in consultation with the banks.

Four state-owned non-life insurers - National Insurance Company, New India Assurance Company, Oriental Insurance Company and United India Insurance Company - are moving towards floating a common health insurance claims settlement agency or third party administrator (TPA).

The new public procurement policy, which will make it mandatory for ministries and Public Sector Units (PSUs) to procure 20 percent of their annual purchase volume from micro and small enterprises (MSEs), will be finalized and placed before the cabinet by the end of this week, said Secretary, Ministry of MSME, Dinesh Rai on Tuesday.

Over three lakh BSNL employees started an indefinite nation-wide strike from Tuesday to protest the proposed disinvestment in the telecom PSU, as also voluntary retirement.

Sectoral indices are seen mixed. Nifty bank, Private Banks, Financial Service and Auto witness buying, while Media, IT, FMCG, Metal, Pharma, PSU bank and Realty witness some selling.

All Banking indices including Pvt Bank, PSU bank went down as marginal hint of profit-booking weighted in across baking stocks.

The Nifty PSU Bank, Media and IT rose the most, while the Nifty Financial Service, Metal and Private Bank declined in between 0.20 to 0.52% in range.

India's crude oil production fell 4.09% to 2917.43 TMT in September 2016 compared to September 2015.

Finance minister Arun Jaitley in this year's budget announced a plan to merge three insurers - National Insurance, United India Insurance and Oriental Insurance. The other company New India Assurance, which is the largest state-owned general insurance company in the country, will remain as it is as it is already listed in the bourses.

vedanta is one of the largest PSU in India... now it going to delisting, so why this decision , click the link to know

The Indian banking industry which was dominated by public banks saw the rise of private banks post liberalization. The Indian banking industry today has become a behemoth is the driving force of the Indian economy. The Indian banking family is 12 public banks, 21 private sector banks, 44 foreign banks and 12 Small Finance banks long which is regulated by the apex bank of India- Reserve Bank of India (RBI).