Bernie Ecclestone risks losing his decades-old grip on Formula One motor racing this year, when legal action stemming from the sale of a stake in the sport eight years ago reaches a climax.
Formula One faces its biggest shake-up in decades with the announcement on Wednesday that US cable TV mogul John Malone's Liberty Media has agreed to take control of the cash-generating glamour sport.
Amidst a debate on controversies surrounding some of the Comptroller and Auditor General reports, the high level committee that went into the Commonwealth Games related projects, has suggested changes in the functioning and structure of top audit and vigilance bodies like the Comptroller and Auditor General making it a three-member body.
Faced with problems of non-cooperation and lackadaisical approach from some of the departments, the Central Vigilance Commission may inspect Commonwealth Games venues and the OC office to gather papers and possible vital evidence to further its probe.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
New franchises may get to choose three players from pool before auction.
Citigroup Venture Capital (CVC) is in talks to acquire 10-15 per cent stake in AnandRathi Securities, the Mumbai-based securities and wealth management firm, for nearly Rs 70 crore ($15 million).
A BTech and PhD in police, human rights and social justice, Singh joined the federal anti-money laundering investigations agency in 2009 on deputation from Uttar Pradesh where he was serving as a state police service officer.
'The way he has been interacting with everybody, be it the masseur or the assistant manager or the driver of the bus, or the new players who have not been part of the IPL before, he is making an effort to reach out to them and give them confidence.' 'That speaks a lot about the man that he is.'
The board has learnt from the harsh lessons of the 2021 edition when the tournament had to be suspended midway due to the raging pandemic and could only be completed in the UAE four months later.
Over 8,800 complaints of alleged graft against railway employees were received by the Central Vigilance Commission last year.
The bank has one of the highest current account savings account share, stable credit quality, robust credit growth, adequate capital and low cost-to-income ratio, said PNB chief Sunil Mehta.
The RBI has this year cut interest rates by 110 basis points in four instalments but banks have passed only a part of it to borrowers. Before the last reduction earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019.
News of all that's transpired on and off the football field.
Newly-appointed Chief Vigilance Commissioner Pradeep Kumar, an IIT-Delhi alumni and Haryana cadre Indian Administrative Service officer of the 1972 batch, is a seasoned bureaucrat who has traversed the corridors of power in the capital having served in various key ministries.
'I tried to behave with humility and respect and I hope that is what remains of me when I leave the club.'
A CBI team on Friday visited office of oil regulator V K Sibal to check records following charges of his receiving favours from Mukesh Ambani-led RIL to approve an inflated expenditure for gas field, a charge denied by him.
'There will be political opposition, and this monetisation will require continued political will.'
Hyderabad-based ICSA (India) is divesting 14 per cent of its stake to Citigroup Venture Capital International Growth Partnership Mauritius for $30 million
Technology solutions provider Caritor has reached an agreement with Citigroup Venture Capital International to make an investment in Caritor for joint strategic initiatives.
This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
'No commercial bank will be allowed to fail. There is nothing to worry about.'
The Congress' protests in the national capital were replicated in other parts of the country.
Raising concern about over-dependence of Indian capital markets on foreign institutional investors, eminent banker Deepak Parekh has said that something needs to be done to change this pattern.
'Let's walk on two legs: Facilitate better resolution under the present system and set up PARA as well by transferring loans amounting to, say, Rs 1 lakh crore.'
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
'The autonomy of essential institutions is clearly under question as the Modi government seeks to influence them politically.' 'The credibility of institutions such as the EC, the CBI, the CVC, the UPSC, the RBI, media, and universities, has been compromised,' notes Zoya Hasan, the distinguished political thinker.
Former chairman of the UIDAI Nandan Nilekani, elucidates how Aadhaar could become the spine for alternative banking and could replace government services with cash benefits.
Narendra Modi is squandering a mandate for change on feeble, unimaginative incrementalism.
Control over PSU banks is what is allowing the government to drive this scheme.
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