The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
Singapore Airlines will hold 49 per cent stake in the airline, while the rest will be held by the Tata group.
Vistara starts flying in India.
In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
'And he was really trying just to do the best by the shareholders, and by the laws of India.'
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
AirAsia India, which is using the training facilities of its parent airline AirAsia in Malaysia, plans to set up similar facilities in India in the coming years, airline sources said.
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
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Amadeus Altea Suite, a complete passenger service system, is currently used by more than 120 airlines across the world. Vistara is a 51:49 joint venture between Tata Sons and Singapore Airlines Limited.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
Samsung last week suspended sales of its latest flagship smartphone and announced a recall of 2.5 million units already sold, after faulty batteries caused some handsets to explode during charging.
A battle royale, fought over 15 long years, comes to an end as a prince and a princess -- grandchildren of the legendary Rajmata Gayatri Devi -- get back the Jai Mahal Palace Hotel from their step-uncles.
Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.
DFS writes to departments that haven't responded to RBI's request for information.
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
Other members of the high-level advisory committee are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI, Governor Raghuram Rajan said.
Experts said the 20 per cent drop in the market poses a challenge for companies that have set the ball rolling on their IPO plans as valuations will now have to realign. This could entail more dilution or lowering of the issue size.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
Ahead of two crucial audits, the Ministry of Civil Aviation (MoCA) has proposed to allow deputy director generals (DGs) and officers of Indian Air Force (IAF) to apply for the post of chief of India's aviation regulator. The current head of the Directorate General of Civil Aviation (DGCA), Arun Kumar, has been promoted as secretary and is expected to move out some time soon. DGCA has four Deputy DGs with experience in different fields of aviation.
Apart from Delhi, Mumbai and Chennai, the codeshare agreement with Lufthansa will cover Ahmedabad, Bengaluru, Goa, Hyderabad, Kolkata, Kochi and Pune.
No reason was cited for rescheduling of the meeting.
For FY14, the first full year of the law's implementation, the spend could go up to nearly Rs 8,700 crore (Rs 87 billion), given that India Inc's profitability has grown at a compounded 7.5 per cent annually in the past three years.
In peace and at war, firms remain tethered to promoter families in a uniquely Indian way.
Broader markets underperformed the benchmark indices with BSE Midcap and Smallcap indces slipping 0.8%-1.1%
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
The airline, which is slated to get its first Airbus A-320 soon, had earlier announced plans to start operations in October.
The Foreign Investment Promotion Board (FIPB) on Friday deferred a decision on Rs 2,000-crore (Rs 20 billion) Jet-Etihad deal, the largest foreign investment in the Indian aviation sector, and sought clarity on control and ownership.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
A committee suggested that CSR expenditure be made tax deductible, in order to incentivise spending by companies. It also said that CSR should not be used as a means of resource-gap funding for government schemes.
Industry watchers attribute a lot of the current successes of the $6 billion Hero Group to how B M Munjal planned and executed succession in HeroCorp, balancing the interests of other family-owned businesses.
Swamy gave notice in the Rajya Sabha for moving Breach of Privilege Motion against Leader of Opposition Ghulam Nabi Azad over his remarks related to the AgustaWestland issue.
BSE-200 companies's list shows that 96 companies had woman directors.
Phee Teik Yeoh, who has returned to the SIA HQ in Singapore worked hard to make Vistara the airline of choice. New CEO Leslie Thng would have the job of cutting losses while going international.
The inaugural flight took off in the presence of Minister of State for Civil Aviation, Mahesh Sharma, along with a number of other people.
Envisioning and implementing a Railway innovation programme needs attitude training and skill impartation, says R Gopalakrishnan.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
The company has charted out a three step process in achieving the target
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.
Rocket Boys offer an overwhelming experience to me and many others who saw Homi Bhabha in action at Trombay, observes Dr K S Parthasarathy, former Secretary, Atomic Energy Regulatory Board.
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
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