Vijaya Bank board approves merger proposal with Bank of Baroda, Dena Bank
NEW DELHI: The board of state-run Vijaya Bank on Saturday gave in-principle approval for its merger with Bank of Baroda along with another PSU lender Dena Bank. Earlier this month, the government announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank to create the country’s second-largest public sector bank by assets and […]
China should do more investment in India than focussing on exports: Amitabh Kant
NEW DELHI: NITI Aayog CEO Amitabh Kant on Friday urged the Chinese firms to raise their funding in Indian start-ups and said instead of focusing on exports to India they should look for raising their investments. The Chinese companies should catch up in terms of investing more in India, he said. “China remains the 17th […]
SEBI slaps Rs 70 lakh fine on Regency Hospital, directors
NEW DELHI: Securities and Exchange Board of India (SEBI) has slapped a total penalty of Rs 70 lakh on Uttar Pradesh-based Regency Hospital as well as its two promoters for fraudulent trading in the company’s shares. In two separate orders issued on Friday, Sebi imposed fine of Rs 15 lakh on Regency Hospital, and Rs […]
India, Uzbekistan to cement economic ties
NEW DELHI: Issues including tariff reduction to promote trade, setting up of a business council, and expansion of economic relation will be discussed during the upcoming visit of Uzbekistan President Shavkat Mirziyoyev to India. The first visit of the Uzbek President will take place early next week. “As part of intensification of economic dialogue, we […]
Trade war will help India emerge as bigger trading, manufacturing base: Arun Jaitley
NEW DELHI: India’s Finance Minister Arun Jaitley on Friday said the ongoing global trade war may have created initial instability , but will gradually open up opportunities for India as a bigger trading and manufacturing base. Calling on businesses to adopt ethical practices, Jaitley said that entities should pay their due share of taxes as […]
Uttarakhand receives investment proposals worth Rs 74K cr
NEW DELHI: Investment proposals worth Rs 74,000 crore have been received by the Uttarakhand government and memorandum of understanding (MoUs) to the tune of Rs 60,000 crore signed with firms ahead of an investors’ summit to be held here next month, Chief Minister Trivendra Singh Rawat said on Friday. Attributing the huge volume of investments […]
Nifty ends below 11,000 mark, down 47.10 points
NEW DELHI: Benchmark Nifty declined for the third session to end 47.10 points lower at 10,930.45 on Friday, dragged by strong selling pressure in metal, realty, auto, infra, media, pharma and IT sectors. Investors adopted a cautious stance ahead of RBI’s policy meeting next week. Surging crude oil prices and negative sentiment in global equities […]
NBFCs, HFCs maintaining adequate liquidity buffer: Crisil
NEW DELHI: Non-banking financial companies (NBFCs) and housing finance companies (HFCs) are maintaining adequate liquidity buffer to manage any mismatches in their asset-liability maturity (ALM) profiles, rating agency Crisil said on Friday. The business fundamentals of non-banks including growth potential, asset quality and capitalisation, still look solid, the agency said in its report. “The liquidity […]
Tata’s IHCL retains Taj Mansingh Hotel after NDMC auction
NEW DELHI: The iconic Taj Mansingh Hotel in Lutyens’ Delhi was retained by the Tata group in an auction by the New Delhi Municipal Council (NDMC) Friday, an official on said. The auction was pending since the lease expired in 2011. The lease for the property will be granted to the group for 33 years […]
RBI bars Bandhan Bank from opening new branches in India
NEW DELHI: Reserve Bank of India has restrained Bandhan Bank from opening new branches and also ordered freezing of remuneration of its CEO Chandra Shekhar Ghosh for not meeting the licensing conditions, the newly-launched bank said on Friday. The bank, on its part, said it is taking steps to comply with licensing condition to bring […]
Max Life Managing Director Rajesh Sud quits
NEW DELHI: Max Life Insurance Friday said its Managing Director (MD) Rajesh Sud has resigned from the company and CFO Prashant Tripathy will replace him from January. After 18 years of building Max Life Insurance and completion of his second five-year term as executive vice-chairman and managing director of the company, Sud hands over the […]
New initiatives in Jammu and Kashmir
NEW DELHI: Jammu & Kashmir (J&K) Government has taken a number of decisions pursuant to the review meeting on 4-5 July 2018 during Union Home Minister Rajnath Singh’s visit to the state. Most significant of these is the conduct of Local Body Elections that are currently underway. Government of India is providing all possible support […]
Solid waste management & recycling must for sustainable growth: Hardeep Puri
NEW DELHI: India’s Housing and Urban Affairs Minister Hardeep Puri has called upon the Industry and the society to self-regulate to bring about behavioural change for a greener and sustainable growth. He was delivering the inaugural address at a Conference on “Plastic Recycling & Waste Management – Opportunities and Challenges” here today. In this context, […]
Tariq Anwar quits NCP after Sharad Pawar backs Narendra Modi government on Rafale deal
NEW DELHI:Senior NCP leader Tariq Anwar has quit the party following differences with party president Sharad Pawar’s stand on the Rafale issue, a senior party leader said on Friday. September 28.The leader said Anwar had also resigned as the party’s Lok Sabha MP. Anwar was a Lok Sabha member from Katihar in Bihar. The Muslim […]
BMW launches two new bikes in India, priced up to Rs 14.4 lakh
NEW DELHI: BMW Motorrad, the premium motorcycle arm of German luxury car maker BMW Group, today launched all-new F750 GS and F850 GS models in India, priced between Rs 11.95 lakh and Rs 14.4 lakh (ex-showroom). The two models will be available as completely built-up Units (CBU) and can be booked at BMW Motorrad dealerships […]
5G launch to enhance possibilities of affordable telecom services across sectors: Akhil Gupta
NEW DELHI: The launch of 5G services will enhance the possibilities of affordable telecom services across sectors, thereby paving the way to achieve the objectives set by the recently announced National Digital Communications Policy 2018, said Akhil Gupta, Vice Chairman, Bharti Group & Executive Chairman, Bharti Infratel. Gupta was addressing the 6th Edition of CII […]