State Bank of India partnered GE Capital in 1998 for its credit card business.
Tata group-owned Jaguar Land Rover (JLR) has secured a 170 million pounds (about $ 284 million) loan from GE Capital in a move to strengthen its financial position, media report says.
A government mandate requiring central public sector enterprises to use the Trade Receivables Discounting System (TReDS) for settling small business invoices is expected to significantly increase volumes on these platforms.
This is the second-worst performance by the pack during this period over the last five years since CY20.
GE has already exercised that right in Europe. It could do that here also. There are no free lunches. Not at least in GE. Anyway, for almost 40 to 50 per cent of what we do, there is no competition in India, says Pramod Bhasin, CEO, Gecis.
GE is selling the shares to "an affiliate of a limited partner in one of Genapct's other shareholders," the companies said in statement. Genpact, one of India's largest business process outsourcing firms by revenue, started out in 1997 as the India-based BPO division of GE Capital.
The performance of Hindustan Aeronautics Limited (HAL) for 2024-25 (FY25) was driven by improved margins and lower provisions. The order book as of March was of Rs 1.8 trillion, with inflows of Rs 1 trillion during FY25.
The Life Insurance Corporation of India is believed to be talking with GE Capital Services, the largest issuer of private label credit cards in the world, for a foray into credit cards.
GE Commercial Finance, an arm of the US conglomerate General Electric, on Monday announced its plan to invest Rs 1,000 crore to expand operations in India.
GE Capital International Services, a wholly-owned subsidiary of General Electric Company, USA, announced the launch of its latest IT-enabled services facility in Hyderabad on Wednesday.
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
Several multinational medical device makers are focusing on deepening their presence in India by expanding their local manufacturing footprint and research capabilities, a move that can catapult India into a strategic hub for the medical technology (medtech) industry. Among those increasing their reach in the country are Siemens Healthineers and Philips, signalling a broader shift from India being only a sales destination to becoming a global production and innovation base.
Over lunch with Jyoti Mukul, Banmali Agrawala, president and CEO, GE South Asia, discusses how GE is transforming itself into a digital industrial company.
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
When Anand Mahindra becomes non-executive chairman in November, Shah will become the first professional MD and CEO in the history of the Mahindra group to have a complete oversight of and responsibility for the Mahindra group businesses.
Haryana has done well in terms of economic growth over the last couple of decades. For it to continue to lead the growth ladder, the new government has to work hard on multiple dimensions, recommend Shishir Gupta and Rishita Sachdeva.
General Electric on Wednesday unveiled plans to raise at least $15bn in capital through stock sales to Warren Buffett's Berkshire Hathaway and the public.
SBI Cards, like most other credit card issuers in the country, suffered losses during the financial crisis of 2008-09 due to sharp increase in delinquencies. The company, a joint venture between State Bank of India and GE Capital, turned profitable in 2010-11. Kadambi Narahari, chief executive officer, shares the strategy to grow the company's cards business in coming years.
Lawsuit issue was a dispute over payment, with GE Capital Aviation Services and Celestial Aviation Trading.
According to the latest data released by the Reserve Bank of India (RBI), the number of credit cards in the country increased by 128,000 in May. HDFC Bank added the most number of cards in May (69,974). State Bank of India (SBI) was next with 34,183 cards. SBI sells credit cards through SBI Cards, its joint venture with GE Capital. However, ICICI Bank and HSBC have reduced their credit card portfolios by 11,029 and 11,024, respectively.
Standard Chartered Bank appears to lead the race to acquire Barclays Bank's credit card business in India, six months after the British lender decided to sell it, three people familiar with the development said.
Auto financiers, which had tightened lending norms in the face of rising defaults last year, may loosen their fists in the wake of the Calcutta high court's order of Wednesday, reaffirming the lender's right to seize vehicles if customers stop repaying loans.
Gecis, a business and technology services company, is recruiting Process Associates, Finance Executives and ITES Executives.
Paramount Airways, whose operations have been affected by a dispute over leasing of three aircraft, on Thursday offered to pay $5.25 million within six months to the UK-based lessor in the Supreme Court.
Demand has outstripped capacity, not enough spectrum (in the case of mobile) and maybe not enough on-ground investment to keep data speeds high and voice quality good.
Gecis, formerly GE Capital International Services, would open its fifth centre at Salt Lake electronics complex in Kolkata for which the West Bengal government would allot a three-acre plot.
Rising wage costs, competition from countries like China, the impending withdrawal of tax incentives under the STPI scheme, the slowdown in the US and the rising rupee have all punctured the optimism of the IT industry.
SAS, global leaders in business intelligence solutions, on Friday announced setting up of its largest research and development centre in Pune, as it expects the Indian market to grow by 27 per cent and generate $87.4 billion worth business by 2009.
The Supreme Court has asked the various parties in DPC to come out with the modalities about fixing interim tariff for sale of electricity by DPC to MSEB.
With a potential liability of Rs 750-800 crore, sources say Clix Capital's stand on the matter would be crucial in finalising the merger valuation.
Liquor baron Vijay Mallya's Kingfisher Airlines will commence operations during the first quarter of 2005.
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