Sensex falls at close; metals, banks perform well.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
'Sholay wallah kahani hai: 'Gabbar Singh aayega, Gabbar Singh aayega.' 'But what is inside Gabbar Singh nobody knows.'
The government on Friday notified the rules for insolvency and liquidation proceedings of financial service providers (FSPs). These rules, notified by the ministry of corporate affairs, will not be applicable to banks, reports Ruchika Chitravanshi.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Cab aggregator Ola is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 per cent in the last two months due to coronavirus pandemic, a note by CEO Bhavish Aggarwal said. In an email to employees, Aggarwal made it clear that the prognosis ahead for the business is "very unclear and uncertain" and the impact of this crisis is "definitely going to be long-drawn for us".
Sena's most discussed promise during the assembly poll campaign -- a full meal at Rs 10 -- also figures in the CMP.
EPFO manages a corpus of over Rs 8.5 lakh crore and its subscribers' base is over five crore at present.
A major fire swept through the parking area, far away from the venue of Asia's premier air show, gutting about 300 cars on Saturday.
Not all change is good, but this one is, applauds Shekhar Gupta.
Regulator fears the insurer may get away without making an open offer.
Accusing the United Progressive Alliance government of "heaping hardships on people," Tamil Nadu Chief Minister J Jayalalithaa flayed its "knee-jerk" reaction of increasing Foreign Direct Investment cap in different sectors and warned that its "insensitivity" towards people will take its toll soon.
The new service tax of 14% will jack up costs of shopping, travel, insurance premiums and property purchases
Want your investments to make money as well as save tax for you? Anil Rego has some advice
The government must send out a clear signal that leadership positions at regulatory bodies are not a preserve of retired government officials, argues A K Bhattacharya.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
A rightly chosen ULIP can be a competitive investment, but the investor needs to ensure that his relationship manager has put him ahead of the commissions that the product pays, says Anil Rego, CEO, Right Horizons.
Reduce the government stake in public sector banks to 33 per cent, recommends A K Bhattacharya
The police said the owners had been booked on Saturday after "confessional statement" of the store manager.
The government is determined to stop generation of black money, he said.
'Is baar vote jati par nahi, kaam par milega.'
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Seeking to allay citizenship concerns of a large number of people, government sources said on Thursday that one can prove Indian nationality by submitting any document related to his date of birth and its place, and there will be "absolutely no compulsion" to submit any document by his parents during any such exercise. An explainer shared by official sources said no document will be required for anybody's pre-1971 genealogy as such a condition was specific to the NRC exercise in Assam and asserted that it will be sufficient to provide one's details of birth like date and place in any future nationwide NRC.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
A day after the Patna high court slammed the Bihar government for its poor handling of the second wave of the pandemic and sought to know whether it was enforcing lockdown or not, the administration on Tuesday announced imposition of lockdown from May 5 to May 15.
The PM said that a lie is being spread that this govt had brought the law to snatch people's rights. He dared rivals to find anything discriminatory in his work.
The National Digital Health Mission seeks to provide a unique health ID to each citizen who wishes to have one and also on-board the healthcare service provides - hospitals, pharmacies and diagnostic labs, among others. It will have an online database of doctors and personal health records.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
'There was already a cash crunch and this (lockdown) has created more trouble.'
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
More than 1,000 independent directors have quit since January 2017; more could be on their way out
Pakistan would want to take full advantage of the situation to direct Taliban trained terrorists into the Kashmir Valley, alert Lieutenant General Ashok Joshi (retd) and Colonel Anil A Athale (retd).
Himanshu and Twinkle Kalia spend their days ferrying the ill to hospital, fetching medicines, arranging funerals and sometimes stepping in to perform last rites too.
Nippon Life's plan to buy a stake in Reliance Life may be delayed as the deal requires special permission from the government.
The Indian market regulator had revamped the FPI regulations in 2014 giving custodians the mandate to collect and verify the KYC documentation of offshore investors
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
Rajya Sabha will sit for late hours in last week of the first half of the budget session from Monday to clear the pending legislative and other businesses.
