The Reserve Bank of India (RBI) has granted approval for UAE-based Emirates NBD (ENBD) PJSC to acquire up to a 74 per cent stake in RBL Bank for $3 billion, marking the largest foreign investment ever in a domestic Indian bank.
Tightening the norms, the government has done away with automatic approval of foreign direct investment (FDI) in the existing pharmaceutical companies.
India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
'The government is putting insurance in the same category as food, which is essential for life.' 'Now this is an opportunity for the sector to focus on the consumer.'
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
India's antitrust regulator has approved Sun-Ranbaxy deal, subject to the companies divesting seven products.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
The proposal will now be considered by the Cabinet Committee on Economic Affairs.
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The report comes at a time when the government is trying to clear pending FDI proposals, which include various planned investments in this sector.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
Paving way for closure of long-pending Jet-Etihad deal, fair trade regulator CCI on Tuesday approved the proposed acquisition of 24 per cent stake in the Naresh Goyal-led Indian carrier by Abu Dhabi-based airline.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
Ministerial consultations on, with recognition of the potential, and the need to not classify it under the same rules as for pharmaceuticals.
Regulator believes Jet Airways deal triggers open offer
Amazon violated FDI norms, allege Future Retail independent directors.
Against the backdrop of objections by some MPs, Civil Aviation Minister Ajit Singh on Tuesday strongly defended the Rs 2,058 crore (Rs 20.58 billion) Jet-Etihad deal, saying those opposing it were "long on politics and short on facts".
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
According to sources, the directorate has sent a letter to Flipkart on the basis of complaints received after the Big Billion Day sale on October 6.
Corporate legal cases kept India Inc on its toes in 2014 as high stake matters on coal, telecom and mining came up in the Supreme Court, which also sent Sahara Group chief Subrata Roy to jail.
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
Chidambaram said it was a 'despicable slur' on the six secretaries of the government.
Dabhol power plant is a lesson on what to avoid while setting up large infrastructure projects.
Amazon has filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) suspension of the US e-commerce giant's 2019 deal with Future Retail (FRL). Amazon has challenged the CCI order on at least five grounds, and the matter is likely to be listed this week, according to the sources. Parallelly, Amazon's Indian unit has approached the Supreme Court against a halt on an arbitration case against Future Retail's (FRL) asset sale to Reliance Industries (RIL).
A glance back at some of the important ups and down Indian Inc faced in 2018.
William S Pinckney was arrested by the Kerala police for alleged violation of the Prize Chits and Money Circulation Schemes (Banning) Act.
Murkumbi will continue to retain his post till the stipulated notice period of 90 days or completion of open offer by Wilmar, whichever is later.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
With an aggressive Opposition and unyielding government, important legislation could be the biggest casualty, as details of the helicopter contract surface.
Indian economy about to take-off
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
The government has provided a long-term vision.
'This has to be seen in the context not only of the legacy we inherited, but also of global economic weakness.'
'If after inheriting the very bad situation we have reached this level despite consecutive years of drought and no growth in the world economy, it is no accident.' 'It is a result of the sound macro economic policies followed by this government.' 'We have eschewed populism and stuck to a path of fiscal prudence.'
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
