The country's largest lender State Bank of India on Wednesday announced the completion of the divestment of about 13.18 per cent stake in Yes Bank to Sumitomo Mitsui Banking Corporation of Japan for Rs 8,888.97 crore. State Bank of India (SBI) has received Rs 8,888.97 crore from the acquirer Sumitomo Mitsui Banking Corporation (SMBC), a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG), the bank said in a regulatory filing.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
Eyewear retailer Lenskart plans to add 450 stores in the current financial year, its fastest expansion in three years, as the company prepares for a public listing that could value it at up to $10 billion. The addition would take Lenskart's store count to more than 3,150 across 14 countries, representing a 34 per cent rise from the 334 stores opened last year.
The decision to allow Virat Kohli to complete his fitness in London has sparked a debate within the cricketing circles on whether this was a one-off allowance to a player of his stature.
'This is an area where good lending can happen, and that is one of the priorities for the next quarter.'
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
The Supreme Court has permitted the sale and bursting of green crackers in Delhi-NCR for Diwali, relaxing the ban on green firecrackers as a temporary measure from October 18 to 21. The court has asked pollution control boards to monitor pollution levels and file reports. The order also includes measures to prevent the sale of non-compliant crackers.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
The National Company Law Tribunal (NCLT) on Wednesday deferred the hearing on Vedanta Ltd's proposed demerger to September 17, as market regulator Sebi is yet to complete the scrutiny of the proposal, while the central government has raised certain objections. The matter, which was part-heard earlier, had been adjourned to August 20.
Lord Paul, founder of the UK-based Caparo Group of industries, had been taken ill and hospitalised recently, where he passed away surrounded by members of his family.
The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
The Supreme Court has allowed certified manufacturers to produce green crackers, but restricted their sale in Delhi-NCR without approval. The court has asked the Centre to review the ban on firecracker manufacturing in the region.
The development comes a day after a government resolution (GR) was issued, in which the state administration ordered disbursal of Rs 10 crore funds for strengthening the state Waqf Board.
Pycroft's decision has not been seen by ICC as a breach of any code of conduct, but as an action he was authorised to take in his remit as a match official deputed to manage the game.
More than half a dozen private-sector banks are awaiting regulatory approval for the appointment of a second whole-time director on their boards.
A 52-year-old government school teacher from Indore, who is suffering from an excruciating bone disorder that has confined her to a wheelchair, has sought President Droupadi Murmu's permission to undergo euthanasia.
During the ICC board meeting, the global body also approved a series of women's Associate Member T20 competitions to boost the competitiveness of smaller cricket-playing nations as it prepares for the expansion of women's events in the 2028-2031 cycle.
In a big boost to tycoon Gautam Adani, markets regulator Sebi on Thursday cleared the billionaire and his group of stock manipulation allegations made by US short-seller Hindenburg Research, saying fund transfer between group companies did not fall foul of any regulation.
The Reserve Bank of India (RBI) has approved IndusInd Bank's request to form an executive committee to discharge the duties and responsibilities of the chief executive officer (CEO) for a period of maximum three months or till a new CEO takes charge, whichever is earlier.
Priya Nair will become the first woman CEO and MD of Hindustan Unilever Ltd (HUL) effective August 1, 2025, with India's largest FMCG firm announcing her appointment on Thursday. Nair, currently president, Beauty & Wellbeing, Unilever, has been appointed for a period of five years.
Salient features of the National Sports Governance Bill that promise to overhaul several aspects of sports governance and the grievance redressal system for athletes and administrators alike in the country.
Public sector banks (PSBs) have written off bad loans of about Rs 5.82 lakh crore in the last five financial years, Parliament was informed on Tuesday. During 2024-25, the loan write-off of PSBs was at Rs 91,260 crore, compared to Rs 1.15 lakh crore in the previous fiscal, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
The application process for Graduate Aptitude Test in Engineering (GATE) 2026 will begin on August 25.
Five sports, including cricket and flag football, proposed for inclusion at the Los Angeles 2028 Olympics were approved by the International Olympic Committee executive board on Friday.
The Supreme Court has ordered the release of Sukhdev Yadav, convicted in the 2002 Nitish Katara murder case, citing completion of his 20-year sentence. The court questioned the Sentence Review Board's rejection of his remission plea.
The first project that is being negotiated is for the procurement of three Scorpene submarines, which will be jointly constructed by state-run Mazagon Dock Limited (MDL) and French defence major Naval Group.
The Securities and Exchange Board of India (Sebi) has approved a proposal from a startup to test fractional shares in its innovation sandbox, marking a potential shift in the Indian equity landscape. This represents a change in stance from 2021, when Sebi rejected a similar proposal in the regulatory sandbox, primarily due to concerns over the custody of fractional shares.
Nasscom on Monday said the US clarification that the H-1B visa fee hike will not affect current visa holders and will apply as a one-time fee only to fresh petitions has helped address the immediate ambiguity surrounding eligibility and timelines.
'Market momentum and investor interest are at unprecedented levels, making this the opportune moment.'
Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
MeitY is in discussions with global Fortune 500 and Fortune 1000 companies, mid-tier firms, and state government officials on a three-pronged approach to setting up new GCCs in India.
The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning in a money laundering case linked to alleged bank loan fraud.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
'Raising the entire amount in one go may not be prudent, given the market dynamics.'
The Donald Trump administration has clarified that the new $100,000 fee for H-1B visas does not apply to current visa holders and is a one-time payment only for new petitions.
The number of companies with promoters whose demat accounts were frozen by the stock exchanges due to non-compliance increased over the past year. The BSE froze promoter demat accounts in 457 companies, according to data from the Securities and Exchange Board of India's (Sebi's) 2024-25 annual report released on August 12.
The Maharashtra legislature has passed a special bill, the Maharashtra Special Public Security Bill, 2024, to curb activities of Left-wing extremist organizations, introducing strict measures and penalties for individuals and organizations involved in unlawful activities.
India's second largest IT company Infosys' board has approved the grant of stock incentives or Employee Stock Option Plans (ESOPs) worth over Rs 51 crore to CEO and MD Salil Parekh. These stock incentives are under various heads including ESG and equity, and add up to over Rs 51 crore.
Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed executive director on flagship Reliance Industries, will be paid Rs 10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice. While the richest Asian's all three children - twins Akash and Isha, and Anant - were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youngest of the three was in April this year appointed executive director of Reliance Industries Ltd.
