The Reserve Bank did not issue the final merger scheme for Lakshmi Vilas Bank (LVB) with DBS India on Friday as stated earlier and is likely to do so only next week, according to a central bank official. While placing LVB under a moratorium and then issuing a draft amalgamation scheme on November 17, the RBI had said it would issue the final merger scheme on November 20 (Friday) so as to help complete the resolution for the 94-year-old lender by December 16. However, as of 2200 hrs on Friday, the central bank did not issue the final merger scheme. When contacted, a senior RBI official told PTI that the same would now be issued early next week.
FPIs' ownership in NSE-listed companies reached a five-year high of 22.74 per cent in December 2020 on the back of huge net inflow of Rs 1.42 lakh crore by such investors in the third quarter.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
Life Insurance Corporation of India on Thursday said it has crossed the 1-crore (10-million) mark in sales of new policies for the current fiscal on November 15.
To ensure the property right is not contested, one has to take various steps, including getting a bank NoC.
Himachal Pradesh Chief Minister Virbhadra Singh was on Friday questioned for the second consecutive day in connection with an alleged disproportionate assets case against him.
The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
It has Rs 20,500 crore of standard stressed pool outstanding as of June 2018. Thus, the entire stressed book (net NPAs and standard stressed pool) is nearly two times its net worth.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
To attract potential suitors, the government will ease asset valuation norms for Air India by allowing bidders to put in offers on an enterprise value basis, a source said on Monday. To begin with, the government is likely to further extend the deadline for putting in a preliminary expression of interest for the loss-making national carrier to December 15. The source said bids will be sought on an enterprise value basis - a popular valuation methodology for takeover deals.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
As many as 10 public sector banks could be out of the infusion plan because of Sebi's minimum public shareholding norms.
Tatas' brand value grows 12% in the past year, far ahead of Reliance and Airtel.
'Kindly advise about the following stocks. Can I hold or exit?'
If everything goes as expected, Arya, now a second year graduation student of a Thiruvananthapuram college, would not only become the new mayor of Kerala's capital, a position held by several significant personalities in the past, but also the youngest ever mayor in the country.
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
Regulator fears the insurer may get away without making an open offer.
Life Insurance Corporation of India is recruiting Apprentice Development Officers.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, will answer your queries.
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
The Railways plans to float an independent fund.
CBI sources said Singh appeared before the probe team on Tuesday morning and was questioned.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Payments can be made till April 21; for motor the relaxation is only for third-party insurance.
The new business premium of life insurance companies usually sees the highest growth in the March quarter.
Life Insurance Corporation of India, which is among the largest property owners in India, is planning to acquire land worth Rs 2,000 crore (Rs 20 billion) this year to develop commercial and residential complexes. This will be in addition to the Rs 1,100 crore (Rs 11 billion) it spent last year for purchasing lands across the country.
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
Life Insurance Corporation and UTI Mutual Fund are in the fray for entering the lucrative pension business, which is slated to grow to Rs 50,000 crore (Rs 500 billion) by 2010.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
The PM has assets worth Rs 2.5 crore including a residential plot in Gujarat's Gandhinagar, fixed deposits of Rs 1.27 crore and Rs 38,750 cash in hand.
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