State Bank of India's investment kitty now includes Rs 300 crore (Rs 3 billion) worth of shares of its competitor and the second largest lender, ICICI Bank.
Chairman A M Naik told Business Standard the "verticalisation" effort is aimed at ensuring better corporate governance as well as attracting talent to the 70-year-old company.
The Life Insurance Corporation has decided not to nominate any retired employee as a director on the board of the almost 90 companies in which it has equity or loan exposure.
The code of market conduct is being prepared under the aegis of the General Insurance Council (a self-regulatory body of the 12 non-life insurance companies) in this regard.
The finance ministry is having a relook at the entire financial sector regulations and legislations to determine how they compare with the global standards.
T S Vijayan has completed a year as chairman of insurance behemoth Life Insurance Corporation of India. In an interview with Business Standard, he speaks about the targets set by LIC, its plans to beat competition and overseas and future plans.
Tata Steel has lost the bidding battle for Vietnam's Vinausteel and SSE Steel after losing a vote on the resolution for its sale and purchase agreement by Vietnam Industrial Investments, the parent company of the two steel makers.
Six months after acquiring Anglo-Dutch steel giant Corus, Tata Steel has put the foreign company's aluminium business on the block.
The list, posted on a website link launched by the US regulator, includes ABB, HSBC, Nokia, Unilever, Cadbury, Total and Siemens among others.
The general insurers have sought well-crafted strategies from interested consultants to withstand competition from the private sector which is more customer-oriented in terms of both services and products.
Srei Infrastructure Finance last month sold 50 per cent stake in a part of its business equipment financing arm to France's largest bank BNP Paribas for Rs 775 crore
Srei Infrastructure Finance is set to be the first Indian company to go for Islamic financing for over Rs 200 crore
This is for the second time that Tata Steel is getting into a take-over battle. It acquired the Anglo-Dutch steel company Corus Group after beating rival suitor, CSN of Brazil, through auction.
International brokerages, especially those which have made recent entry into the domestic market, are lining up to acquire the institutional broking business of the city-based Brics Securities.
Sources close to the development said the group will shortly take a decision on the business, which has seen interest from large houses like the Tatas and the Ambanis.
close to the development confirmed that a deal could be signed between the parties shortly
As soon as general insurers are freed from the shackles of standard products, they could offer a motor insurance policy that provides for settlement of full claims amount without any deductions for depreciation as per the current practice.
Sterlite Industries is set to list its $2 billion (Rs 8,000 crore) American Depository Shares issue, the largest by any Indian company, with the New York Stock Exchange by the middle of this month.
This delay was a result of controversies over a 15 per cent holding by Hutchison-Essar Managing Director Asim Ghosh, healthcare major Max's Analjit Singh and financial institution IDFC.
Aditya Birla Group and Holcim are rapidly increasing capacity in a bid to become the largest player in India's cement industry.
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