HDFC Life to acquire Exide Life Insurance for Rs 6,687 crore
NEW DELHI: Private life insurer HDFC Life Insurance Friday said it will acquire Exide Life Insurance from Exide Industries in a deal worth Rs 6,687 crore. The board of directors of HDFC Life Insurance Company (HDFC Life), Exide Industries and Exide Life Insurance Company approved the transaction involving the sale of Exide Life Insurance to HDFC […]
J B Mohapatra appointed as Chairman of Central Board of Direct Taxes
NEW DELHI: Senior bureaucrat J B Mohapatra has been appointed the chairman of the Central Board of Direct Taxes (CBDT), the Personnel Ministry said in an order Wednesday. Mohapatra, a 1985-batch Indian Revenue Service (Income Tax) officer, is currently the member in the board that frames the policy for the Income Tax department. The Appointments […]
PayU acquires BillDesk for $4.7 billion
NEW DELHI: In one of the biggest deals in the Indian consumer internet space, global player Prosus NV on Tuesday said its fintech business PayU will buy digital payments provider BillDesk for USD 4.7 billion (about Rs 34,376.2 crore). With the deal, the Netherlands-incorporated Prosus NV”s investment in India will jump to more than USD […]
Omaxe appoints Abhinav C Ajmera as President- Leasing
NEW DELHI: India’s leading real estate developer Omaxe Ltd. has appointed top management professional Abhinav C Ajmera as President- Leasing. With an excellent career spanning over 25 years, Ajmera will be responsible for strengthening the leasing operations and in helping the group to infuse new energy in the company’s commercial & retail real estate division. […]
Supreme Court directs demolition of Supertech Emerald’s twin 40-storey towers in 3 months
NEW DELHI: The Supreme Court on Tuesday directed demolition of twin 40-storey towers of Supertech’s Emerald Court project in NOIDA here for violation of building by-laws. The apex court directed that the entire amount of home buyers be refunded with 12 per cent interest from the time of the booking and the Residents Welfare Association […]
We want to maintain trade, political ties with India: Taliban leader
NEW DELHI: The Taliban wants to maintain Afghanistan’s trade, economic and political relations with India, senior leader of the outfit Sher Mohammad Abbas Stanekzai has said while describing it as an important country in the region. In a video address in Pashto, Stanekzai said consultations with various groups and political parties are going on to […]
Drought-hit farmers in Chhattisgarh to get Rs 9,000 per acre aid
RAIPUR: Chhattisgarh Chief Minister Bhupesh Baghel on Sunday said that if the crops sown by the farmers in the state during the ongoing kharif season get destroyed due to drought-like conditions, then they would be given a financial assistance of Rs 9,000 per acre. “Shortage of rainfall has given rise to drought-like conditions in several […]
Bihar-born Pankaj Kumar appointed as new chief secretary of Gujarat
AHMEDABAD: Odisha-born senior IAS officer Pankaj Kumar has been appointed as the new Chief Secretary to the Gujarat government, an official from the state General Administration department said on Friday. A 1986-batch IAS officer, Kumar (59) will replace Anil Mukim, who is retiring from service on August 31, and will take charge on the same […]
Pharma industry to surpass $60 billion by FY24 from $45 billion in FY21: Report
NEW DELHI: The Covid-19 pandemic push will lead to an 11 per cent annual growth for the pharma sector over the next two years and help it surpass USD 60 billion from around USD 45 billion in FY21, according to a report. The domestic pharma industry globally ranks third in terms of volume and 13th […]
Farmers’ national convention to mark 9 months of protest begins at Singhu border
NEW DELHI: The national convention by farmers to mark completion of nine months of their agitation against the three contentious farm laws began at the Singhu border on Thursday. The two-day-event that will see participation from 1,500 delegates across organisations of farmers, women, youth, and labourers, is aimed at intensification and expansion of the ongoing […]
India among most exciting markets globally, to grow to USD 1 trillion by 2025: Walmart CEO
NEW DELHI: The Indian retail segment has its own uniqueness and the country is one of the most exciting markets globally that is poised to grow to over a trillion dollars by 2025, according to Walmart Inc President and CEO Doug McMillon. Speaking at the Converge@Walmart event, McMillon noted that given the diversity of the […]
Inviting applications to set up International Trade Financing Services Platform at GIFT IFSC
The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India. IFSCA vide circular dated 9th July 2021 issued the framework for setting up of International Trade Financing Services Platform (“ITFS”) at […]
‘Modi government in process of selling India’s crown jewels,’ says Rahul Gandhi on NMP
NEW DELHI: Congress leader Rahul Gandhi on Tuesday slammed the Centre’s move to monetise its assets across key sectors, saying the Modi dispensation is in the process of selling India’s “crown jewels” built by previous governments with public money over 70 years. Addressing a press conference here with former Union finance minister P Chidambaram, he […]
Eldeco Group, HDFC Capital set up Rs 150 crore affordable housing platform
NEW DELHI: Eldeco Infrastructure and Properties Limited (EIPL), has announced that it has partnered with HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1) – a fund managed by HDFC Capital Advisors Limited, to form a platform focused on the development of low-rise, plotted development projects in Tier 2 cities in National Capital Region (NCR) […]
India to monetise 25 airports over 4 years, to fetch Rs 20,782 crore
NEW DELHI: The government of India is looking to monetise 25 AAI-managed airports, including Varanasi, Chennai, Nagpur and Bhubaneshwar, over the next four years, which could bring in investments worth Rs 20,782 crore. Further, divestment of Airports Authority of India’s (AAI) residual stake in four airport JVs has also been considered under the national monetisation […]
India eyes Rs 35,100 crore from partial sale of Bharatnet network, tower infra
NEW DELHI: The government of India expects to realise Rs 35,100 crore from the partial sale of Bharatnet fibre assets and around 13,500 mobile towers owned by state-run telecom firms as part of its national monetisation pipeline released on Monday. Government think tank Niti Aayog has valued over 2.86 lakh kilometre of optical fibre assets […]