SBI suspends circular on recruitment of pregnant women
NEW DELHI: After facing criticism from various quarters, the country’s largest lender State Bank of India (SBI) on Saturday decided to suspend its circular on recruitment of pregnant women. SBI recently reviewed its ‘Fitness Standards for Recruitment in the Bank’, including norms for Pregnant Women candidates. Under the new rules, a woman candidate with more […]
IIFL Finance Q3 profit up 15% at Rs 310 crore backed by home, gold loan business
NEW DELHI: IIFL Finance on Friday reported 15 per cent increase in net profit at Rs 310 crore for December quarter 2021-22, backed by growth in home and gold loan businesses. The company had logged a net profit of Rs 269 crore in the year-ago period. Total income during the period under review rose to […]
Bank credit grows 8.01% to Rs 115 trillion; deposits 9.28% to Rs 159 trillion
NEW DELHI: Bank credit grew 8.01 per cent to Rs 115 lakh crore and deposits rose 9.28 per cent to Rs 159.83 lakh crore in the fortnight ended January 14, according to Reserve Bank of India (RBI) data. In the fortnight ended January 15, 2021, bank credit stood at Rs 106.43 lakh crore and deposits […]
India to export BrahMos missiles to Philippines, signs $374-mn deal
NEW DELHI: India got its first ever export order for BrahMos missiles on Friday when the Philippines’ Defence Ministry signed $374-million contract with BrahMos Aerospace Private Limited to supply an undisclosed number of missiles, military officials said. The BrahMos Aerospace Private Limited (BAPL), an India-Russian joint venture, produces the supersonic cruise missile BrahMos that can […]
Venkatraman Anantha Nageswaran to be named chief economic adviser of India
NEW DELHI: The government of India has appointed Dr V. Anantha Nageswaran as the Chief Economic Advisor and today, he has assumed charge. Prior to this appointment, Dr. Nageswaran has worked as a writer, author, teacher and consultant. He has taught at several business schools and institutes of management in India and in Singapore and […]
Google to invest up to $1 billion in Airtel
NEW DELHI: Bharti Airtel and Google today announced that they will partner on a long-term, multi-year agreement to accelerate the growth of India’s digital ecosystem. Together, they will work to bring best-in-class end-to-end products to serve customer needs, provide quality customer experience, and bring their expertise to solve problems of affordability, access, and digital inclusion. […]
Kia India appoints MyungSik Sohn as Chief Sales Officer
NEW DELHI: Kia India, the fastest-growing carmaker in the country, today announced the appointment of MyungSik Sohn as Chief Sales Officer (CSO) with effect from Jan, 2022. In his new role, Sohn will oversee the planning and execution of sales strategies aimed at driving growth. He will also collaborate with Kia India’s current leadership to […]
Air India back under Tatas wings
NEW DELHI: Salt-to-software conglomerate Tata Group on Thursday took over Air India and vowed to turn the loss-making carrier, it had founded but had lost control nearly seven decades back, into a world-class airline. N Chandrasekaran, Chairman of Tata Sons, which in October last year beat a consortium led by rival SpiceJet promoter to win […]
Naina Lal Kidwai resigns from Cipla board
NEW DELHI :Drug major Cipla on Wednesday said Naina Lal Kidwai has resigned as independent director on its board, with effect from March 31, 2022. In a letter shared by the Mumbai-based drug firm, the veteran banker noted that she has put in her papers to fulfil several other responsibilities and professional commitments. “I further […]
Elan Group acquires 40-acre land in Gurugram for Rs 580 crore from Indiabulls
NEW DELHI: In a big-ticket land deal, Elan Group has bought around 40-acre land in Gurugram for Rs 580 crore from Indiabulls Real Estate to develop housing and commercial projects. With the purchase of this land parcel, located on Dwarka Expressway, Elan Group will make an entry into the housing segment with the total development […]
STL wins Rs 170 crore deal from PGCIL
NEW DELHI: STL, an industry-leading integrator of digital networks, announced a partnership with India’s largest power distribution company, Power Grid Corporation of India Limited (PGCIL). Through this collaboration, STL will fulfil PGCIL’s requirement for high performance, integrated network management systems across their regional communications networks. With this multi-year deal worth Rs 170 crore STL further […]
Aparna Constructions launches Aparna Zenon in Puppalaguda, invests Rs 2550 crores into project
NEW DELHI: Aparna Constructions and Estates Private Limited has announced that they are launching their 60th residential project – Aparna Zenon, a gated community located at Puppalaguda, Nanakramguda, Telangana. With an estimated 2550Crores infused into this project, AparnaZenon is one of the much awaited upcoming projects from the brand. Situated in Puppalaguda, Nanakramguda, a bustling […]
India engineering goods exports jump to $82 billion during April-December 2021
NEW DELHI: Exports of Engineering Goods jumped to USD 81.8 billion during April-December 2021 (Provisional) as compared to USD 52.9 billion during same period in the previous year (2020), registering a stupendous growth of 54%. Engineering Goods sector constitutes the largest, more than 27%, share of India’s total exports basket during the period. As compared […]
India releases 2nd volume of vision document on electronics manufacturing
NEW DELHI: Ministry of Electronics and Information Technology, in association with ICEA, released a 5-year roadmap and Vision Document for the electronics sector today, titled “$300 billion Sustainable Electronics Manufacturing & Exports by 2026.” This roadmap is the second volume of a two-part Vision Document – the first of which titled “Increasing India’s Electronics Exports […]
Tata Technologies plans to hire 3,000 innovators in next 12 months
NEW DELHI: Global engineering and product development digital services firm Tata Technologies on Monday said it will hire over 3,000 innovators over the next 12 months under its expanded talent acquisition programme. The company plans to ramp up its workforce in all major markets globally and India, which includes Maharashtra, Karnataka, Tamil Nadu, among others, […]
Ola Electric raises USD 200 million in funding at a valuation of USD 5 billion
NEW DELHI: Ola Electric on Monday said it has raised over USD 200 million (about Rs 1,490.5 crore) from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others, valuing the electric vehicle maker at USD 5 billion. In September last year, Ola Electric had announced raising a similar amount in funding from Falcon Edge, Softbank […]