Income tax department raids on Deepak Fertilisers
NEW DELHI: Deepak Fertilisers and Petrochemicals Corporation on Friday said the income tax department was carrying out search and seizure operations in the company’s office premises and plants since on Thursday. “The search and seizure operations are still continuing, and the company is extending full cooperation,” the Pune-based company said in a regulatory filing. The […]
Kotak Mahindra Bank surpasses Maruti Suzuki in market cap to enter top 10 club
NEW DELHI: Private sector lender Kotak Mahindra Bank’s market valuation surpassed that of Maruti Suzuki to enter the top 10 club by market capitalisation in the country on Friday. It has also become the country’s fourth most valued bank in terms of market capitalisation after HDFC Bank, State Bank of India (SBI) and ICICI Bank. […]
Most PCA banks meet priority sector lending goals for MSMEs, shows analysis
NEW DELHI: Amid a raging debate on need for easing rules governing credit to micro, small and medium enterprises (MSMEs), an analysis of the Reserve Bank of India’s (RBI’s) data on such loans shows a large majority of banks, including those facing ‘prompt corrective action’ (PCA), have achieved the mandatory priority sector lending targets for […]
‘New RBI window may not increase credit to NBFCs’
NEW DELHI: The partial credit enhancement (PCE)facility by the Reserve Bank of India’s (RBI) for non-bank lenders is unlikely to have the desired impact of increasing credit flow to the troubled sector, a report said on Friday. On November 2, RBI had allowed banks to provide PCE for debt raised by non-deposit-taking systematically important non-banking […]
Uber drivers may earn Rs 2,200 more monthly with new fare plan
NEW DELHI: Leading cab aggregator Uber India has claimed that its fuel price-linked fare mechanism will increase gross earnings of its drivers by Re 1 per km, which on a monthly basis will lead to a net additional earning of up to Rs 2,200 for an 8-hours driving. The announcement claim a day after it […]
Reliance pips TCS to become most-valued firm
NEW DELHI: Shares of Reliance Industries (RIL) on Friday rose over 2% helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation. In afternoon trade on BSE, RIL’s market capitalisation was Rs 7,14,573.46 crore, while India’s largest IT firm by revenue TCS slipped to the second […]
Tata Investment board approves Rs 450 crore share buy-back
NEW DELHI: Tata Investment Corporation on Friday said the board has approved buy-back of up to 45 lakh shares aggregating a sum of Rs 450 crore. The board of directors of the company at its meeting held Friday approved the buy-back of the shares amounting to 8.17% of the total paid-up equity share capital at […]
Imran Khan to visit Malaysia next week; likely to seek monetary aid
By Sajjad Hussain ISLAMABAD: Prime Minister Imran Khan will visit Malaysia next week where he is likely to seek monetary assistance to minimise the cash-strapped Pakistan’s dependence on an IMF bailout package. The Foreign Office said that Prime Minister Khan would be accompanied by a high-level delegation during his official trip to Malaysia on November […]
Air India eyes Rs 800 crore from sale of over 70 properties
MUMBAI: Loss-making national carrier Air India plans to mop up Rs 700-800 crore by selling over 70 residential and commercial properties spread across the country, a senior airline official said on Thursday. This fresh bid is a part of the airline’s real estate assets monetisation plan approved by the then UPA government in 2012. As […]
Intel opens design house costing Rs 1,100 crore in India
BENGALURU: Marking its 20th anniversary, Intel India on Thursday announced the inauguration of its latest state-of-the-art design house at its campus here, built with an investment of approximately Rs 1,100 crore. The newest facility located at Intel’s 44-acre campuson Sarjapur Ring Road, has 620,000 sq. ft. of space including 100,000 sq. ft. of world-class lab […]
Gurumurthy says RBI should aid lending to small businesses
NEW DELHI: Ahead of next week’s crucial board meeting of Reserve Bank of India (RBI), the central bank’s independent director and Rashtriya Swayamsevak Sangh (RSS) ideologue S Gurumurthy on Thursday made a case for calibration of its massive Rs 9.6 lakh crore reserves, saying no central bank in the world maintains such high levels of […]
India will not amend any provision of RERA
NEW DELHI: India’s Housing Minister Hardeep Singh Puri on Thursday said the government will not amend any provision of Real Estate Regulatory Authority (RERA) and warned states against tweaking rules of the centre’s real estate law, asserting that it will lead to “harsh consequences”. The Union housing and urban affairs minister said the “full benefit” […]
Supreme Court reserves order on pleas seeking court monitored probe in Rafale deal
NEW DELHI: The Supreme Court of India on Wednesday reserved its order on pleas seeking court monitored probe in procurement of 36 Rafale fighter jets from France. A bench comprising Chief Justice Ranjan Gogoi and Justices S K Kaul and K M Joseph concluded the arguments advanced by various parties which have also sought registration […]
In a first, Donald Trump invites Indian envoy to share podium at White House Diwali event
By Lalit K Jha WASHINGTON: United States of America (USA) President Donald Trump created history of sorts when he invited Indian Ambassador Navtej Singh Sarna to share the podium with him at the White House Diwali event. In fact, Trump’s body language, his remarks and the atmospherics inside the Roosevelt Room of the White House […]
Odisha announces free smartphones for women SHGs
NEW DELHI: To make women digitally empowered in Odisha, the state government will provide free smartphones to all the women self-help groups (SHGs) under Mission Shakti programme, chief minister Naveen Patnaik said on Wednesday. Stating that women in Odisha have come a long way, the next ceiling to be broken is the digital one, Patnaik […]
Airtel appoints Adarsh Nair as Chief Product Officer
NEW DELHI: Telecom Service provider Bharti Airtel today said that it has appointed Adarsh Nair as Chief Product Officer. In his new role Adarsh will be the custodian of Airtel’s digital products and platforms, and play a pivotal role in the company’s digital transformation journey. He will work closely with Airtel’s leadership team and partners […]