Axis Bank on Wednesday said it has completed the acquisition of Citibank's retail business in India for a final cash consideration of Rs 11,603 crore. The sale excludes Citi's institutional client businesses in India. The third-largest private sector bank said the acquisition, announced first in March last year, will not necessitate any new capital requirements and stressed that the attrition numbers on customers are much better than expected.
Rashtriya Swayamsevak Sangh (RSS) general secretary Dattatreya Hosabale on Tuesday said the organisation believes that there is no need to turn India into a 'Hindu Rashtra' or Hindu nation because the country has always been one.
China's official media reported air and ground movement of troops in Taiwan Straits -- the waters that separate China and Taiwan -- as US House Speaker Nancy Pelosi landed in Taipei on Tuesday disregarding Beijing's stern warnings.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
India's National Investigation Agency is probing into his role in the 26/11 attacks carried out by Pakistan-based Lashkar-e-Taiba terrorists in 2008.
French carmaker Citroen will launch its C3 Aircross Sport Utility Vehicle (SUV) in India by October, and is betting big on exports from India to markets like South Africa, ASEAN (Association of Southeast Asian Nations) and Nepal, a top company executive told Business Standard. Citroen, which sold 6,000 units through Citron C3 and C5 Aircross SUV, is likely to double its sales during the current year, as it has already sold 6,000 units of Citron C3 and eC3 electric vehicles during the first six months. "We are going to start bookings for the C3 Aircross SUV in September and launch it in October. Price will be at the heart of the midsize SUV market," said Saurabh Vatsa, Citroen India branch head.
In addition to supporting the president-elect, Klain will work to build a diverse, experienced and talented team to help President-elect Biden and Vice President-elect Kamala Harris meet the urgent challenges facing the country, a media release said.
The Delhi police on Monday searched the houses of The Wire's founding editor Siddharth Varadarajan and deputy editor M K Venu in connection with a now retracted story related to the BJP's IT department head Amit Malviya, officials said.
China claims Taiwan as part of the mainland and vows to integrate what it calls the rebel province even by force.
'On hard cases like this one, the Supreme Court has only episodically stood against Parliament and the executive government.' 'I worry that this decision sets a precedent where President's rule is imposed in another state... and during the operation of President's rule, the state is fundamentally altered.'
According to sources, Sahil and Nikki, who lived in a live-in relationship, had got married at a temple in Noida in October 2020.
The National Investigation Agency on Friday filed a fresh charge sheet against five persons in connection with the Coimbatore car bomb blast in October 2022, and said the prime accused was "reportedly inspired by the hardcore ISIS ideology" to carry out this terrorist attack.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
Here are few things you should know about Vice Admiral Sunil Lanba, India's next naval chief.
United States Attorney General Jeff Sessions said that Trump is concerned about America's safety.
HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. Both HDFC and HDFC Bank held general meetings on Friday to seek shareholder approvals for what is billed as the largest merger in Indian corporate history at over $40 billion. At the time of announcing the merger on April 4 this year, the entities had said the merger will take 12-18 months.
With the merger between HDFC Bank and HDFC Ltd complete, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. At the bourses, they expect the stock to perform in-line with the benchmark indices in the near-term. "There's usually an initial period of consolidation after a merger as the entities work towards integration.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
US Attorney for the Southern District of New York, Preet Bharara, has once again gone to bat for Prime Minister Narendra Modi regarding the immunity the Indian leader enjoys from lawsuits brought against him in the United States.
The villagers, led by Budha Ismail Jam, along with several other farmers and fishermen, allege that coal-fired Tata Mundra Power Plant in Tunda village in Kutch district, has resulted in widespread environmental damages.
Vice Admiral Lanba, who will proceed to New Delhi to take over as the Chief of Naval Staff on Tuesday, handed over the command to Luthra at a ceremonial parade in Mumbai on Monday morning.
This year's edition, three years lost to the pandemic and scheduling, wore a distinctive shade of green, and, as would befit an era of technology shift from internal combustion engines to electric motors, had a clutch of high-technology exhibits and concepts. But the excitement of the expo's heyday was missing.
Across Yes Bank branches, the busiest people were the relationship managers, trying to soothe nerves. Many were seen advising clients the situation was only temporary and that their money was safe.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
"President Trump is requesting that as part of their investigation into Russian activity, the Congressional intelligence committees exercise their oversight authority to determine whether executive branch investigative powers were abused in 2016," White House Press Secretary Sean Spicer said in a statement.
The country's largest private lender HDFC Bank is planning to facilitate a shift in its payments module from the existing core banking platform. This would ensure minimal payments downtime, even if core banking is not available. "This 15-month project will be followed by hollowing the customer-master modules from its existing core systems. "It will ensure a single system of record for customers across various products," said Sashidhar Jagdishan, managing director (MD) & chief executive officer (CEO), in the annual report for 2021-22.
What happens when you are in a life-and-death situation and, as it happens often in such situations, you just have a moment to make a choice? Director Amit Kumar's Monsoon Shootout makes you sit on the proverbial horns of such a dilemma.
For smaller MFIs, resuming operations is more difficult because they haven't got any fresh bank credit sanctioned from their lenders.
Home Minister Araga Jnanendra said on Monday the police have also detained his "accomplices" for questioning.
Sisodia went to his party office in the morning from where he proceeded to Rajghat. A large number of his supporters gathered outside his residence ahead of his questioning.
Trump's tweet came a day after he reluctantly signed into law a bill imposing tough sanctions against Moscow under mounting domestic pressure.
A single-member commission probing the allegations of corruption levelled by senior IPS officer Param Bir Singh against former Maharashtra home minister Anil Deshmukh on Friday directed Singh to appear before it on November 29.
Mumbai police has received text messages warning of a '26/11-like' attack on the city from a phone number with Pakistan's country code and a person has been detained in this connection, officials said on Saturday.
Observing that the Indian Supreme Court plays the role of a 'counter-majoritarian institution', Justice Chandrachud said it is the duty of the top court to 'protect the rights of socio-economic minorities'.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The Delhi high court on Thursday commuted to life term the death penalty awarded to Ariz Khan following his conviction in the sensational 2008 Batla House encounter in which decorated Delhi Police Inspector Mohan Chand Sharma lost his life.
It is equally essential to recognise the judiciary's role in the constitutional dialogue as it acts like a safety valve for fostering our democratic values, she said.
'It is observed that some of our branches are already losing good balances in their savings deposits as well as fixed deposits, which are maturing, to the other banks.'
