Axis Bank on Wednesday said it has completed the acquisition of Citibank's retail business in India for a final cash consideration of Rs 11,603 crore. The sale excludes Citi's institutional client businesses in India. The third-largest private sector bank said the acquisition, announced first in March last year, will not necessitate any new capital requirements and stressed that the attrition numbers on customers are much better than expected.
Private sector lender Axis Bank is close to acquiring Citigroup's retail banking business in India and a deal is likely to be announced soon, sources said on Wednesday. According to the sources, the deal, to be valued at $2.5 billion (about Rs 18,000 crore), will be subject to regulatory approvals. In April 2021, American banking major Citigroup announced its plan to exit from the consumer banking business in India as part of its global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
Meta, which owns the popular messaging app, said it has fixed the glitch, and the service was back.
Women's IPL set to take place in March with 5 teams
The Board of Control for Cricket in India called a Special General Meeting on May 29 to discuss the upcoming cricket season in India, including the T20 World Cup scheduled in October-November.
In other countries, Street View's content comes from two sources -- Google and individual contributors. However, in India, these will be collected by the tech giant's new local partners.
Housing prices increased by up to 11 per cent annually across eight major cities during January-March period of this year due to a rise in demand for residential properties and a sharp hike in rates of construction raw materials, according to a joint report by CREDAI, Colliers and Liases Foras. Delhi-NCR witnessed highest rise in housing prices by 11 per cent to Rs 7,363 per sq ft during January-March 2022 as compared to the year-ago period, as per the first edition of Housing Price-Tracker report by realtors body CREDAI, real estate consultant Colliers and data analytics firm Liases Foras. Hyderabad witnessed 9 per cent increase in housing prices to Rs 9,232 per square feet, while Ahmedabad saw a 8 per cent appreciation to Rs 5,721 per square feet and Kolkata 6 per cent to Rs 6,245 per square feet.
Home interiors company HomeLane on Monday said it has entered into a three-year strategic partnership with ace cricketer, Mahendra Singh Dhoni, as an equity partner and brand ambassador. As part of the partnership, Dhoni will own equity in HomeLane and will be its first brand ambassador, a statement said. Details of Dhoni's investment were, however, not disclosed.
American banking major Citibank on Thursday announced that it will exit from the consumer banking business in India as part of a global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
Encouraged by a steady recovery seen in the first two weeks of February, hospitality firms expect the business hotels in metros including Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad that have been lagging the leisure hotels in terms of revenue per available room (RevPar) to catch up in the coming months. Huge pent-up demand for MICE (meetings, incentives, conference and exhibitions) as companies slowly return to hosting physical events coupled with easing of the recently announced restrictions on international travel, will also help in getting closer to pre-Covid levels of revenue, they said. The Omicron wave that peaked in January had derailed the strong month-on-month recovery seen by the hotels since August.
These trains will be run as special trains from New Delhi station connecting Dibrugarh, Agartala, Howrah, Patna, Bilaspur, Ranchi, Bhubaneswar, Secunderabad, Bengaluru, Chennai, Thiruvananthapuram, Madgaon, Mumbai Central, Ahmedabad and Jammu Tawi.
French IT firm Atos is planning to hire 15,000 people in the next 12-18 months in India, including climate experts, as it moves towards decarbonisation by 2028, chief operating officer (COO) Nourdine Bihmane said. "India is a strategic market for Atos. "We have been present here for the last 30 years, and we have grown organically since. "People and innovation are our two key drivers to build momentum. "India represents one-third of our total workforce," Bihmane said. Atos has around 40,000 employees in India.
Unless you are very knowledgeable, seek expert advice before making such a high-ticket investment, cautions Sarbajeet K Sen.
SpiceJet, India's second-largest private airline, kicked off the process of hiving off its logistics business to its subsidiary SpiceXpress as it looks to raise much-needed capital. On Tuesday, the company sought its shareholders' approval to complete the process and to raise up to Rs 2,500 crore via a qualified institutions placement (QIP). It is in talks with multiple private equity investors as it tries to sell shares in the logistics arm to raise money.
The airline will utilise new Airbus A320s, scheduled for delivery this year, to accommodate much of the increased frequencies.
In 2020, after the outbreak of the Covid-19 pandemic, several five-star hotel chains commenced home delivery of food as a lot of people preferred to stay indoors. A year later, as the Covid situation worsens, such hotels are going the extra mile to cater for the gastronomical needs of their customers. With health, nutrition, and immunity occupying the mind spaces, these hotels are crafting menus that are not only high on health quotient, but also have food capable of improving the mood. The move, they hope, would help them get more customers as prices are also competitive.
Flipkart Supermart is already live in Bengaluru, Chennai, Hyderabad and Delhi
The survey, however, said that GDP is expected to revert to growth terrain next year, when it is likely to grow by 7.2 per cent.
The fresh round of discounted fares is applicable for three days starting Tuesday on all SpiceJet flights from eight cities in South India.
The outbreak of COVID-19 has adversely impacted the occupancy levels at hotels across 11 major cities, resulting in a decline of up to 29 per cent in revenue per available room (RevPAR) during January-March this year, according to JLL India. While occupancy level fell in a range of 5-17 percentage points, the RevPAR was down 13-29 per cent across 11 cities -- Ahmedabad, Bengaluru, Chennai, Delhi, Goa, Gurugram, Hyderabad, Jaipur, Mumbai, Pune and Kolkata.
Analysts remain sceptical on the profitability from freighter business, saying that once normal air transport resumes and there's abundant belly capacity, the traditional economics of air cargo may not be that lucrative.
Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
The offer is applicable to airline's all domestic destinations, including Mumbai, Delhi, Kolkata and Chennai, a company official said.
Pune, Noida, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad witnessed a decline in sales as well as launches, while only two cities, Mumbai and Gurugram, saw a rise in demand and supply.
What India's top restaurants are doing to satisfy your food cravings.
The Q3 office rebound growth was led by Bengaluru and Hyderabad, which together accounted for nearly 80 per cent of the net absorption in Q3.
Amazon Web Services (AWS) on Friday announced setting up of its second data centre region in India in Telangana that will be operational by mid-2022, and will see the tech giant investing about Rs 20,761 crore. While AWS did not comment on the investment detail, Telangana IT and Industries Minister KT Rama Rao tweeted that AWS will invest Rs 20,761 crore ($2.77 billion) to set up multiple data centres in the state.
Its entry will increase competition especially when WhatsApp too has received approvals to launch payment service.
V K Sasikala, late J Jayalalithaa's confidante would return to Tamil Nadu on February 7 from Bengaluru and a grand welcome from party cadres awaited her right from the state's border, Amma Makkal Munnetra Kazhagam general secretary T T V Dinakaran said in Madurai on Wednesday.
'People are quite productive while they work from home.' 'The sooner we accept the new normal, the better it is.'
Citing examples of other states like Odisha and cities like Mumbai, Bengaluru, Chennai, he said the word "Bengal" has the state's culture.
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
A survey has revealed that GenY is keen on finding love through dating apps.
From virtual yoga to empathy, the pandemic has prompted the e-commerce giant to double down on building innovations focused on improving remote work culture especially employee well-being, both mental and physical.
The study further said the mid-range housing segment is expected to drive the maximum demand of 45 per cent.
'No linen, blankets and curtains shall be provided inside the train. Passengers are advised to carry their own linen,' an order by the Railways said. The order also said that there would be no provision of 'tatkal' and 'premium tatkal' accommodation and there will be very few stoppages during the journey.
Launch of new residential projects in top eight cities -- Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, National Capital Region (NCR) and Pune -- came down by 41 per cent in first half of 2017.
These cities are -- Mumbai Metropolitan Region (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Google has dedicated its doodle to mark the start of the 2016 edition of ICC T20 World Cup.
Satish Madhira, managing director of the Hyderabad-headquartered Dealivore.com, says that although online deals and coupon sales are nothing new outside India, his start-up is a new concept in India.
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