Moreover, all her existing and future entitlements such as any unpaid amounts, unpaid bonuses or increments, unvested and vested and unexercised stock options, and medical benefits will be revoked.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
Anurag Tiwari, who belongs to Sarasan village in Lakhimpur district, said he has got selected to Cornell University where he would be pursuing higher studies in Economics.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
FPIs' ownership in NSE-listed companies reached a five-year high of 22.74 per cent in December 2020 on the back of huge net inflow of Rs 1.42 lakh crore by such investors in the third quarter.
A greater payment security mechanism for power generation companies to ensure timely payouts for supply of electricity will be in focus in 2022 as stricter rules are on the anvil for 24x7 power supply amid discoms' outstanding dues at a whopping Rs 1.56 lakh crore. Mounting outstanding dues of distribution companies (discoms) to electricity generation companies (gencos) have been a perennial issue affecting the entire value chain in the power sector and are also a hindrance for the ambitious goal of 24x7 power supply across the country even when the payment for coal is made in advance. The situation persists despite the fact that discoms' dues become overdue after 45 days of generating bills and they also have to pay penal interest on the overdue amount in most of the cases to gencos.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
The tea industry, hit by rising costs, falling prices and political unrest in the North Bengal plantations, is especially vulnerable to the COVID-19 lockdown.
Slow growth over several quarters has drawn criticism from various stakeholders including the shareholders.
Top officials said asking employees other than the fund management team to mandatorily invest a fifth of their salary goes against the principle of natural justice.
Infy board gets law firm to probe 'lapses', appoints Cyril Amarchand Mangaldas to engage with founders.
Ganguly's current nine-month stint will get an extension if the BCCI dilutes the specific reform on tenure-cap as mandated by the SC-appointed Lodha Committee.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
The one-size-fits-all approach adopted by the AICTE is not suitable for regulating business schools in India, argues Asish K Bhattacharyya.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
Y H Malegam, 80, will head the panel that will look into non-performing bank assets and their relation to the Rs 114-bn PNB scam.
Olympic Association is yet to get an official confirmation about shooting being scrapped from the programme of 2022 Commonwealth Games but said it will ask the organisers to reconsider its decision.
Home buyers would be able to invoke Section 7 of the IBC against errant developers.
Given the relative paucity of cricket this year, Test cricket has emerged as a healer for deprived fans, notes Dhruv Munjal.
26 chartered accountants associated with such shell companies have also been identified
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
Trains were set afire and blocked, and public vehicles attacked as protests over 'Agnipath' swept across several places in Bihar, Uttar Pradesh, Rajasthan, Haryana, Madhya Pradesh, Delhi and Jammu on Thursday amid partisan political voices in favour and against the new recruitment scheme for the defence forces that has set off a firestorm.
When making a buy or sell decision on a fund, it is essential to look beyond profits, says Kavitha Krishnan
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
Act says remuneration to directors and key managerial personnel should involve a balance between fixed and incentive pay.
The Board of Control for Cricket in India's committee on Lodha reforms on Saturday included demarcation of functions performed by honorary office-bearers and paid professionals to the list of reservations it has about the implementation of the Supreme Court order.
It's time to re-examine government's role as owner of banks,
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
The mergers will not involve any cash but only share swaps
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
Bad loans of PSU banks rose by 28.5 per cent.
Sri Lankan pitch curator Jayananda Warnaweera was on Wednesday suspended by the International Cricket Council for three years after he 'failed' to cooperate in an ongoing anti-corruption investigation against him.
