India Blog News - Page 5
Satyam scam: SAT revokes Sebi order against erstwhile Maytas Infra, says director and others cannot be considered insiders
Maytas Infra was later acquired by IL&FS Engineering and Construction Company.
SBI to shut down 9 more foreign branches as part of rationalisation; capital a 'constraint' for most banks: Pravin Gupta
SBI has operations in 36 countries with 190 branches,
NCLAT declines to stay debt-ridden ElectroSteel's delisting under resolution plan
The NCLAT is already hearing a petition filed by Renaissance Steel, challenging the Vedanta's bid for Electrosteel.
Maharashtra clears notification for 'annual startup week' to be held every February
The state government had launched the Maharashtra State Innovative Startup Policy in February this year
Bank stocks tumble on RBI red flags on NPAs; S&P BSE Bankex down
Bank stocks today witnessed heavy selling and settled with losses of up to 6 percent as the Reserve Bank of India (RBI) indicated worsening of non performing assets (NPA) situation
Fortis shares end positive as firm moves to recover Rs 500 cr from Singh brothers
Fortis today reported widening of its consolidated net loss to Rs 914.32 crore for the fourth quarter ended March 2018, mainly on account of continuing business challenges.
Texas Instruments, DST launch India Innovation Challenge contest for engineering students
Qualifying teams stand to get a fund of Rs 8.2 crores from the Ministry of Science and Technology (DST) and Texas Instruments,
Carmesi, a startup that sells ‘natural’ sanitary pads via a subscription-based model
Carmesi aims to capture the top 10 percent of the market in India.
75% PF withdrawal on being unemployed for a month: Provident Fund was never intended as an unemployment dole
If PF balance should remain impervious to court attachment orders, it should also remain impervious to being viewed as a low-hanging fruit to be plucked whenever one pleased.
Bank NPAs to touch 12.2% by March 2019: Why RBI’s latest Financial Stability Report is a must-read for LIC
RBI’s NPA forecast should act as a warning signal for LIC which is looking at a controlling stake in IDBI bank
Sensex opens in green, advances 54 points as blue-chips rise; Nifty up; Re at 19-month low
Sensex was trading higher by 53.85 points or 0.15% at 35,543.89
Vijay Mallya letter: A desperate bid for an image makeover by the embattled liquor baron; it won’t have many takers
The release of the two-year old letter, mailed to the prime minister and the then finance minister, has come too late and will unlikely do any good for him.
Benami transactions: Why new provisions to unravel shadow holdings in companies may misfire
Those who make disclosures risk being deemed to be benami holders inviting the stringent provisions of the Benami Transactions Prohibition Act.
Public sector banks account for 85% of over 6,500 bank fraud cases: RBI
Financial Stability Report, according to a Economic Times report. The top 10 banking frauds in 2018 lead to a financial loss of Rs 10,000 crore
IDBI Bank-LIC stake deal: Finance Ministry says bank boards to take a call, 'we are not going to micromanage them'
There have been reports that having failed to a get a buyer for its stake in IDBI Bank, the government might ask LIC, which already owns over 10 percent in the infra-lender turned commercial bank, to take at least 40 percent more in it, something it had done with Axis Bank in the past.
Govt directs PSUs to challenge only those cases in which policies, larger legal issues involved
Public sector undertakings should challenge only those matters when the company's policy or legal issues warrant so, said Chief Labour Commissioner Jitendra Kumar Sagar
Jet Airways inks agreement to buy 75 more Boeing 737 MAX aircraft for over $9 bn
This is the third agreement Jet Airways has entered into for Boeing’s 737 MAX narrowbody jets over the last one year, taking the total to 225 aircraft. The Indian airline signed firm orders for 75 planes each in October and April.
Sensex extends losses on global trade war worries, falls 132 points; Nifty slips 30 points; Re slides
Sensex fell 132.26 points or 0.37% to 35,338.09. The gauge had lost 219.25 points in the previous session.
Harley-Davidson to shift some of its production overseas to avoid EU tariffs; President Donald Trump 'surprised'
Trump, who has been taking up the case of tariffs on Harley-Davidson by India, which in part is responsible for the current trade tension between the two countries, said he is surprised by such a decision by the motorcycle manufacturer.
Make prosecution witness in PNB scam an accused, says former employee of Gitanjali Group in a plea in court
Nitin Shahi, a former assistant finance manager with the Gitanjali Group, headed by Mehul Choksi, filed the application before the special CBI court through his lawyer Vijay Agarwal.
Gramin bank kiosks in Madhya Pradesh are following corrupt practices
In parts of Madhya Pradesh, some banks seem intent on driving the poor to the moneylenders by turning banking into a backbreaking ordeal.
Deep sea fishermen receive no banking support as lenders don’t want to fish for trouble
Boat owners rely on the local network of agents who advance them the fuel or supplies they need against the expected catch.
Manipur discovers the transformative power of small banks and micro loans
Loans are issued only after meticulously screening clients and taking approval from their guarantors.
Banks are far and poor internet keeps banking further away from the people of Bastar
Local businesses in Chhattisgarh’s Bastar division, affected by left-wing extremism, find it difficult to do transactions via banks or internet banking.
Sensex slumps 219 points as trade concerns mount, Nifty cracks below the 10,800 mark
The BSE Sensex tumbled over 219 points to close at 35,470.35, while the broader Nifty fell 59.40 points to 10,762.45
Uber battles to keep London licence in UK court appeal; whole legal process could take years
In London, Uber has since made several changes to its business model since losing its licence, including the introduction of 24/7 telephone support and the proactive reporting of serious incidents to the city’s police.
Startup India: Your fledgling venture can tap the capital markets now; BSE to float new platform on 9 July
The BSE platform will facilitate the listing of companies in sectors like IT, ITES, bio-technology and life sciences, 3D printing, space technology and e-commerce.
Donald Trump regime plans limits on Chinese investment in US technology firms, says report
The US Treasury Department is drafting curbs that would block firms with at least 25% Chinese ownership from buying US companies with “industrially significant technology,”
Wipro CEO Abidali Neemuchwala's pay package up 34.5% to Rs 18 cr in FY18; Azim Premji's by 10.13% to Rs 87 lakh
Wipro's Chief Strategy Officer (CSO) Rishad A Premji's compensation also grew by more than 250 percent to Rs 5.8 crore in the said fiscal.
Reserve Bank of India may hike rates further to check inflation: HSBC report
Earlier this month, the central bank had upped its retail inflation projection by 0.30 percent and kept the policy stance in the neutral zone, even as it hiked the key rate by 0.25 percent to 6.25 percent.