Private sector lender Axis Bank is close to acquiring Citigroup's retail banking business in India and a deal is likely to be announced soon, sources said on Wednesday. According to the sources, the deal, to be valued at $2.5 billion (about Rs 18,000 crore), will be subject to regulatory approvals. In April 2021, American banking major Citigroup announced its plan to exit from the consumer banking business in India as part of its global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
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.
Union minister Nitin Gadkari on Wednesday told Rajya Sabha members that he was the ''father of toll tax" on expressways in the country as he built the first such road in Maharashtra during his stint as the state minister in late 1990s.
The Test series will be part of the World Test Championship cycle.
Home seekers demand has exceeded supply and hence there is a possibility of rentals going up by atleast 10 percent.
Bengaluru-based Prestige Estates Projects recently said it aims to double its annual residential sales bookings to Rs 25,000 crore by FY26 from its current markets and others such as Mumbai, Pune and National Capital Region (NCR). The company's chairman and managing director Irfan Razaq tells Raghavendra Kamath about his plans to achieve the target and outlook for the real estate market.
Non-voice business process outsourcing company Tricom India Ltd would invest Rs 20 crore (Rs 200 million) in its expansion programme, which includes setting up of a 600-seat facility in Mumbai and 1,500-2,000 seat facility in Pune.
Ajit Pawar said CM Shinde is not capable of getting big projects to Maharashtra.
The DGP said after concealing the contraband, the accused persons had meticulously welded the door border and repainted it.
Announcing a Re 1 crop insurance scheme for farmers, the deputy CM said the government will bear the financial burden of Rs 3,312 crore.
Average housing price across eight cities rose 3-10 per cent year-on-year in July-September this year, while office rent grew up to 13 per cent on higher demand for properties, according to Knight Frank India. Bengaluru property market saw highest growth in average housing price as well as average office rent during the third quarter of the 2022 calendar year as compared with the corresponding period of the previous year, property consultant Knight Frank India said in its report 'India Real Estate - Office and Residential Market July-September 2022'. As per the data of primary housing market, the average price in Bengaluru rose 10 per cent to Rs 5,428 per square feet in July-September quarter from Rs 4,928 per square feet in the year-ago period.
Dominic Xavier offers his take on Raj Thackeray's latest political ploy and wonders if this Thackeray versus Thackeray skit will help the BJP finally achieve its goal of ejecting the Maha Vikas Aghadi government from a state that has largely been insulated from the communal disharmony sweeping across parts of north India.
On Monday, Maharashtra reported 15,140 new coronavirus cases, 7,304 less than the day before, and 39 fatalities due to the infection, according to the state health department.
Commercial 5G services will be rolled out in 13 cities in India, including the metropolises, in 2022, the Department of Telecommunications (DoT) said in a statement on Monday. These cities are Delhi, Gurugram, Mumbai, Pune, Chennai, Kolkata, Bengaluru, Hyderabad, Chandigarh, Lucknow, Ahmedabad, Gandhinagar, and Jamnagar. "These metros and big cities would be the first places for the launch of 5G services in the country next year," the DoT said.
The moves comes as novel coronavirus cases continue to rise in the country.
When Shabana Azmi met with a road accident on the Mumbai-Pune Expressway on Saturday, her friends and colleagues from the film industry reacted immediately and rushed to her in support.
"To make sure there isn't a Covid surge in the country, PM Modi has asked us to be careful. The government is also preparing if at the Covid cases increase. Today, mock drills are conducted across Covid hospitals in the country to make sure people get proper treatment," Mandaviya said.
Pawar had told the media on the day of the raids that the tax searches were also carried out at the premises of his three sisters, one living in Kolhapur district and two in Pune district of Maharashtra.
Thackeray wrote that the young generation is also getting infected by the virus, and to prevent the spread, people above 25 years be made eligible for vaccination.
Maharashtra reported seven new cases of the Omicron variant of coronavirus on Friday including a three-and-half-year-old girl which took the tally of such infections to 17, the state health department said.
American banking major Citibank on Thursday announced that it will exit from the consumer banking business in India as part of a global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
No expecting mother ever needs to travel for more than 30 minutes to reach one of their hospitals, believes the Cloudnine group.
Budding cricketers are not the only ones getting inspired by Mahendra Singh Dhoni's iconic helicopter shot as it has now become the inspiration for artisanal chocolates launched on Tuesday by food and beverage start-up 7InkBrews, where the former India captain is also a shareholder.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
'The Mumbai-Pune Olympics will be help shift the country's gaze to a region that denotes a new formula for sports, enterprise, and nation building,' argues Shashank Mani Tripathi.
Lockdown in Amravati city in Maharashtra was extended for a week on Saturday in view of the coronavirus situation, while restrictions were also imposed for the weekend in Nagpur, Buldhana and Yavatmal.
'When you are travelling in Mumbai when the air quality is bad, you feel suffocated.' 'You may feel uncomfortable breathing Delhi air, but the level of discomfort is higher in Mumbai.'
Reviving its IPO plan for the third time, realty major Lodha Developers has filed draft papers with market regulator SEBI for its proposed initial public offering to raise around Rs 2,500 crore, according to sources.
Thackeray was speaking virtually after the inauguration of a water taxi service, linking Navi Mumbai to south Mumbai, and the Belapur jetty in the neighbouring township.
The state government has framed standard operating procedures for reopening of restaurants and a decision will be taken once these guidelines are finalised, Chief Minister Uddhav Thackeray said on Monday.
They include a woman who came from Nigeria along with her two daughters to meet her brother in adjoining Pimpri Chinchwad area, the official said.
The metropolis also saw two other incidents of wall collapse amid heavy rains since Friday, injuring five persons.
What engineering problems make it hard to use 17th century physics to move lots of people quickly across serious distances? Devangshu Datta has the answers.
'With each ED, CBI raid on us the BJP thinks we will soften down.' 'But every such raid has strengthened the resolve of Shiv Sena leaders.'
Automaker Citroen on Wednesday said it has commenced home deliveries of C5 Aircross SUV, its first model in the Indian market. The company, which is a part of Stellantis group formed by the merger of two global auto majors FCA and Groupe PSA, is taking online bookings for the model and then directly delivering the SUV to customers from its Tiruvallur-based (near Chennai) manufacturing plant. It is the first of its kind sales initiative in the country. Citroen currently has showrooms across ten cities in the country, including Bengaluru, Ahmedabad, Chennai, Mumbai, Pune, Hyderabad, Kolkata, Delhi, Kochi, and Gurugram. For customers outside these cities, it has launched a 100 per cent direct online buying for its flagship model.
From small restaurants to mighty software companies, it is businesses, not the government, that create jobs. Yet, in a cruel irony, they have to fight extortive and brutal State power every step of the way, says Debashis Basu.
Sources in the Highway Police say the iron holding on the side of the expressway has become old and so the area is landslide prone, putting motorists at risk every day, especially during monsoons.
French IT firm Atos is planning to hire 15,000 people in the next 12-18 months in India, including climate experts, as it moves towards decarbonisation by 2028, chief operating officer (COO) Nourdine Bihmane said. "India is a strategic market for Atos. "We have been present here for the last 30 years, and we have grown organically since. "People and innovation are our two key drivers to build momentum. "India represents one-third of our total workforce," Bihmane said. Atos has around 40,000 employees in India.
Pawar said he was upset that his three sisters were dragged into this.
