There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
McDowell & Co Ltd has posted a net profit of Rs 63 million for the quarter ended December 31, 2002 as compared to Rs 61.80 million in the quarter ended December 31, 2001.
Industry estimates show that the business news channels generate about Rs 300 crore a year in advertising. However, with the economic slowdown, ad revenue is expected to drop by about 15-20 per cent this year.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
The Piramal Group on Friday said it is planning to move the Supreme Court to appeal against an order by insolvency appellate tribunal NCLAT, which sent back its winning bid for DHFL to the debt-laden finance company's lenders for reconsidering the valuation. Piramal Capital & Housing Finance Ltd in a statement said that "the Dewan Housing Finance Corporation Ltd (DHFL) acquisition by Piramal Group remains unaffected and the business integration continues as envisaged". The National Company Law Appellate Tribunal (NCLAT) on Thursday, while delivering a judgement on 63 Moons Technologies petition had directed the lenders of DHFL to reconsider their decision regarding the valuation of the financial firm's avoidable transactions, while approving the insolvency resolution plan submitted by Piramal Capital & Housing Finance Ltd.
The purported letter, which is believed to be the final note by the late promoter and widely circulated on social media, contained statements alleging harassment on VG Siddhartha by the Income Tax department.
Huawei Technologies to invest $170 million in India.
The Reserve Bank on Monday said it has imposed penalties of about Rs 1 crore each on Kotak Mahindra Bank and IndusInd Bank for deficiencies in regulatory compliance. Besides, the RBI has also imposed penalties on four co-operative banks. A penalty of Rs 1.05 crore has been imposed on Kotak Mahindra Bank for contravention of certain norms related to 'The Depositor Education and Awareness Fund Scheme, 2014' and for non-compliance with the directions on 'Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions', and 'Loans and Advances - Statutory and Other Restrictions', the banking regulator said.
Struggling Super Aguri confirmed Japan's Takuma Sato and Britain's Anthony Davidson as their 2008 drivers on Tuesday after agreeing to a takeover of the Formula One team. Super Aguri, who finished ninth overall last season, arrive in Melbourne with minimal pre-season mileage under their belts after taking part in just one full test since December while focusing on securing their financial future.
The government will sell its remaining 26 per cent stake in IBP Co Ltd through a public offer this fiscal besides offloading 10 per cent equity in Oil and Natural Gas Corporation and Gail (India) Ltd to raise Rs 15,000 crore.
China has made the world's first electric passenger aircraft that could be used in pilot training, tourism, meteorology and rescue operations.
A Hinduja Group firm on Wednesday emerged as the highest bidder with an offer of Rs 9,650 crore to take over debt-ridden Reliance Capital in the second round of auction, sources said. The bid by IndusInd International Holdings Ltd (IIHL) is higher than Rs 8,640 crore offer made by Torrent Investments in the first round of auction held in December last year. The other two suitors -- Torrent Investments and Oaktree -- did not participate in the second round of auction, sources said.
Unconscious children being carried by parents in their arms, people laying on roads, health workers scrambling to attend to those affected by the styrene vapour leak and residents fleeing were some of the scenes that played out near Visakhapatnam on Thursday, bringing back grim memories of the 1984 Bhopal gas tragedy.
Nokia on Tuesday issued a warning over its mobile BL-5C batteries manufactured by Matsushita Battery Industrial Co Ltd of Japan between December 2005 and November 2006, saying that the batteries may overheat while charging.
Nano, the wheels that millions of Indians have been waiting to drive, on Monday hit the roads and waved goodbye to Tata Motors' enduring image as a truckmaker.
Housing Development Finance Corporation Ltd said on Tuesday it will acquire US-based Chubb Global Financial Services Corporation's 26 per cent stake in their joint insurance venture.
Last month, Bhatt said Kalashnikov AK-203 rifles for Indian armed forces were under manufacturing and testing stage at an Indo-Russian joint venture at Korwa in Uttar Pradesh.
The primary satellite TeLEOS-2 is a synthetic aperture radar satellite developed under partnership between Defence Science and Technology Agency (DSTA) representing the Government of Singapore and ST Engineering.
Authorities have blamed local tribesmen for carrying out similarly bombing gas pipelines and railroads, as well as rocket attacks targeting security forces.
The Wall Street crash brought down markets across the globe, with Hong Kong stocks falling almost 2 percent on Friday, on investors' fear that the bad US credit situation could blow into a full scale financial crisis.
In recognition of his contribution to Indian industry, he had been honoured with the Padma Bhushan in 2002.
The trade between India and Saudi Arabia is growing rapidly with the bilateral trade crossing USD 9.87 billion last year.
The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF. The government has slashed the special additional excise duty (SAED) on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) to nil from Rs 4,100 per tonne with effect from Tuesday, an official order dated May 15 said. This is the second time that the levy, which was introduced in July last year in the form of a cess to tax supernormal gains of oil producers and fuel exporters, has been cut to nil for domestically-produced oil.
Classmates in Chennai turn back the clock to their time with Indra Nooyi.
The insolvency process of debt-ridden Reliance Capital Ltd (RCL) on Tuesday hit a roadblock as the NCLT Mumbai has stayed the resolution process on the plea of Torrent Group. The stay order was issued by the National Company Law Tribunal (NCLT) as the Ahmedabad-based Torrent Group challenged the revised bid from Hinduja Group, sources said. Torrent Group, which emerged as the highest bidder with an Rs 8,640 crore offer, had moved the NCLT-Mumbai against Hinduja Group's late revised bid, which it had submitted after the completion of the e-auction process on December 21.
China, the world's largest coal producer, has witnessed a series of major coal mine accidents this year as the nation faced an acute power shortage.
Around 23 minutes after lift-off, the primary satellite got separated and it was followed by six other co-passenger satellites, which were deployed into the intended orbits sequentially, ISRO said.
In a major technological breakthrough, oil retailer IBP Co Ltd has developed cryogenic trucks for transporting liquefied natural gas that eliminates need for conventional gas pipelines.
The government has brought back the windfall profit tax on domestically produced crude oil after international prices firmed up while the levy on export of diesel has been cut to nil, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) is now Rs 6,400 per tonne with effect from Wednesday, the order dated April 18 said. At the last revision on April 4, windfall tax on domestically produced crude oil was cut to nil as international oil prices dipped below $75 per barrel.
A netizen surnamed Zhou was arrested by police for "spreading rumours online stating that the poor quality of military vehicles supplied by the Dongfeng Off-road Vehicle Co, Ltd has caused the death of Chinese soldiers during the China-India border clash," a report in Chinamil.com, which is attached to the Chinese ministry of defence, said.
Foreign share holding limit in Maruti Suzuki India has reached trigger limit and any further investment by FIIs will be allowed only after RBI's approval.
Low-cost carrier SpiceJet said on Monday it had signed a $1.1 billion deal for sale and lease back agreement, covering 16 brand-new Boeing aircraft.
