Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
Xiaomi Inc said it had upgraded its operating system to ensure users knew it was collecting data from their address books after a report by a computer security firm said the Chinese budgetsmartphone maker was taking personal data without permission.
At end of week, Infosys had a market valuation of Rs 2,69,489 cr, or Rs 432.68 cr more than HDFC Bank's Rs 2,69,056 cr
Stock markets will focus on global trends for further direction in this holiday-shortened week as the earnings season is largely over, analysts said. Trade experts expect the key benchmark indices to move sideways as investors are trying to decode the impact of rising inflation on foreign portfolio investments. Inflation data released by the US and China last week have fanned fears of earlier than expected rate hike and boosted US bond yields.
Seeking ArcelorMittal be declared ineligible to bid for Essar Steel, the petition cited Section 29A of the Insolvency and Bankruptcy Code which bars promoters of defaulting companies from bidding for stressed assets.
ONGC Videsh Ltd and Oil India Ltd will buy Videocon Industries' 10 per cent stake in a giant Mozambique gas field for $2.475 billion.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH insurance and AUTO insurance.
The NIH said results of two studies of blood serum from people who had received Covaxin suggest that the vaccine generates antibodies that effectively neutralise the B.1.1.7 (Alpha) and B.1.617 (Delta) variants of SARS-CoV-2, first identified in the United Kingdom and India, respectively.
The recall is the latest in a series of problems to hit Ranbaxy, which has had all its India factories stopped from sending drugs and ingredients to the United States.
Jury finds that Samsung had infringed two Apple patents
The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
ED has come across two immovable assets - one flat in Dubai and one land parcel in London. It is examining the valuation of both properties, estimated between Rs 150 crore and Rs 200 crore.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Association for Democratic Reforms has stated in its report that 87 percent of the contributions or donations made to political parties in the past eight years were from business houses. The corporate houses contributed Rs 378.89 crore, constituting 87 per cent of the total contribution from known sources of political parties.
Lenders to Venugopal Dhoot-founded Videocon Group will eventually take 50-55 per cent haircut and not 95 per cent as is being reported after considering about Rs 15,000 crore expected from the sale of the group's overseas oil and gas assets, its former CFO Rajneesh Gupta claimed. Videocon Industries Ltd, which is comprised of its consumer electronics business and interest in the Ravva oil and gas field, and its overseas oil and gas assets, mainly comprising of oil blocks in Brazil, are being auctioned separately to recover unpaid loans. While Anil Agarwal-led Vedanta Group has picked up Videocon Industries for Rs 2,962 crore, the bids for overseas assets are yet to be decided.
The ED summoned Varsha Raut for questioning in the PMC Bank money laundering case on December 29, officials had said on Sunday.
In a major judgement to help innocent road accident victims, the Supreme Court has ruled that an insurance company was liable to pay compensation to the victims even if the driver of the vehicle, which met with an accident, had a fake driving licence
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries about HEALTH insurance and AUTO insurance.
China brings the world to its doorstep with scale replicas of famous tourist destinations from across the world.
IT services provider iGate Global Solutions Ltd on Monday said it has enhanced its stake holding in US-based Loan Pro LLC to 60 per cent.\n
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Samsung recently introduced its "S bike" mode, a feature targeted at India's legions of motorbike riders that, when activated, notifies callers that the phone's owner is riding and cannot answer
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
Rediff readers tell us what their first salaries meant to them.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
New ministry will bring much-needed transparency in the functioning of the cooperatives, which so far have been riddled with allegations of political interference and mismanagement.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mohammad Irfan Abdul Aziz, 39 from Nasik shares his casual work from home look!
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Anil Ambani controlled Reliance Capital has acquired 7.5 per cent stake in BPO firm Mold-tek Technologies Ltd, the company said on Saturday.
The Kerala high court has directed the Centre to allow scheduling, on CoWIN portal, of second Covishield dose after four weeks from the first for those who want to take it earlier than the present suggested gap of 84 days.
The panel producers did not receive Apple's certification, as they were given strict power-saving requirements.
The court in its detailed order also raised questions on the veracity of the NCB's panchnama records.
Foreign portfolio investors (FPIs) remained net buyers for the third month in a row by investing Rs 68,558 crore in Indian markets as global investors continued betting on emerging markets. For the equity segment, this is the highest quantum of money invested ever since the FPI data has been made available by the National Securities Depository Ltd. The second highest amount into equities was invested by FPIs in November, when they had pumped in Rs 60,358 crore.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
Coal-based generators plan upgrades, clean tech over 5 years.
