This will trigger an open offer under SEBI norms and TCIL will seek to buy up to 26 per cent in Sterling for Rs 230 crore.
Sources said that this is a contingency plan, in the event of an exit of the present heads of its two subsidiaries ICICI Prudential and ICICI Ventures. At present, Shikha Sharma is managing director & chief executive officer (CEO) of ICICI Prudential Life Insurance, while Renuka Ramanathan is managing director and CEO of ICICI Ventures.
To boost the economy, the RBI has taken a slew of measures since September last year, including cuts in the cash reserve ratio and short-term lending (repo) rate, to inject funds into the system and signalled a soft interest rate regime. PSU bankers' meeting is being held in the backdrop of the third quarterly review of monetary policy by the Reserve Bank of India.
Indian wild card entrant Jeevan Nedunchezhian crashed out of the Chennai Open after a bright start soon after Ramkumar Ramanathan stormed into the singles main draw with a superb win over higher-ranked Slovakian Norbert Gombos in Chennai.
The All India Tennis Association says an unflattering perception is being created about it in the wake of Mahesh Bhupathi's removal as captain when it actually selected Rohit Rajpal because the ITF, till the last moment, had not given the impression that it would move the Davis Cup tie out of Islamabad.
Prajnesh, India's top-ranked singles player at 122, downed the local wild card Jason Kubler 7-5, 6-3 in the first round
Yuki Bhambri won the Australian Open Junior boys singles title defeating Alexandros-Ferdinandos Georgoudas of Germany in straight sets in the final in Melbourne on Saturday. Top seed Bhambri registered a comprehensive 6-3, 6-1 victory to become only the fourth Indian to win a Junior Grand Slam title.
Despite expressing fears of rising defaults, banks committed themselves to promptly sanction fresh loans to farmers covered under the Centre's Rs 71,000-crore (Rs 710 billion) debt wavier and relief scheme.
The meeting comes ahead of a fresh stimulus package aimed at sectors not covered in the earlier measures announced by the central bank and the government.
Sumit Nagal lived a dream when he took on one of the greatest players of all time at a packed Arthur Ashe stadium in a US Open first-rounder.
Music composer Shankar Mahadevan said, "It is important that citizens speak up and take action. The fight against corruption will be a long journey. But I am confident that ipaidabribe.com and Maine Rishwat Di will achieve their lakshya."
For all those who've felt that Tamil moviedom hasn't really made use of fantasy and mythology elements in a modern set-up, or come up with a fun movie for children in recent times, Abhirami Ramanathan's maiden Tamil film Panchamirtham, directed by Raju Easwaran, has roped in mythological characters by the bucket-load for the kiddie-club.
Interest rates are set to fall again with public sector banks today agreeing to lower deposit and lending rates next month.
With Yuki Bhambri and Somdev Devvarman still recovering from their respective injuries, India is set to field same set to players in the upcoming Davis Cup World Group Play-off against Spain, that beat South Korea 4-1 in July.
Reader Chander Ramanathan sent us these pictures from Melbourne.
According to NABARD, around 60% of India's population lacks access to financial institutions.
The meeting comes a day after Finance Minister P Chidambaram met heads of PSU banks and got an assurance from Indian Banks Association that banks would consider interest rate cut and come up with some decisions on the price at which credit will be delivered to different sectors. Following the meeting many public sector banks announced their decision to cut lending rates by up to 75 basis points.
Private sector banks are set to join the rate cut bandwagon. A day before meeting Finance Secretary Arun Ramanathan in New Delhi, senior executives of some leading private bank said the rate could be lowered by 50-75 basis points over the next two to three weeks.
Rohan Bopanna returned to the country's Davis Cup squad after a two-year gap as AITA named a six-member team on Saturday, for the Asia/Oceania Group I contest against Chinese Taipei, starting January 31 in Indore.
New norms to keep Raghuram Rajan out of the race.
Thirty-six-year-old Haseena Hussain, who fought a long battle after being attacked with acid, has called upon all acid attack victims to be independent and not be bogged down in life.
RRBs, which cater to the rural sector, are sponsored by major public sector banks, and Centre and State governments also hold stake in them. Earlier, the bankers told Chidambaram that they were facing liquidity crunch due to delay in the relief package, and were unable to provide credit to farmers.
The 534th ranked Yuki, who missed out on half the season in 2016 due to a tennis elbow injury, conjured up a 6-1, 6-4 win against his 116th-ranked American opponent.
Serbian Djokovic, 31, needed elbow surgery in February to cure a problem that surfaced in 2017, but after some jarring defeats he returned to the kind of domination he achieved in 2015, winning Wimbledon and the US Open.
Sringaram, the debut directorial venture of Sarada Ramanathan, is a musical movie on the life of a devadasi (temple dancer) called Mathura. It is also focused on the popular South Indian classical dance form Bharatnatyam.
All eyes will be on veteran Leander Paes, who is the on the cusp of a historic world record in perhaps his last appearance in Davis Cup.
Accumulation of atmospheric brown clouds caused by the buildup of greenhouse gases is significantly contributing to the melting of Himalayan glaciers.
Roger Federer began his latest quest for a 100th ATP title with a battling 6-4, 3-6, 6-1 win over Philipp Kohlschreiber in the first round of the Dubai Duty Free Tennis Championships on Monday.
A federal grand jury in Omaha, Nebraska, has indicted three Indians on charges of hacking into online brokerage accounts of others using stolen usernames and passwords for making big time profit.
Reader Chander Ramanathan sent us these pictures from Melbourne.
Sidin documents his intial forays into the SENSEX. Don't miss!
Former India coach Anil Kumble is in the running for the Coach of the Year award in the inaugural edition of the Indian Sports Honours, instituted by the RP-SG Group in association with the foundation of skipper Virat Kohli.
India will have to contend with none other than 14-time Grand Slam winner Rafael Nadal as Spain today named a full strength team for the upcoming Davis Cup World Group Play-off tie. Apart from world number five Nadal, who lost in the fourth round at the US Open, Spain has packed the side with world number 13 David Ferrer, world number 18 Feliciano Lopez and Mark Lopez (world number 19 in doubles).
How the 22-year-old Indian reached the Show Court at US Open, finding himself against 20-time Grand Slam Champion Roger Federer after beginning the year outside 350.
A summary of sports events and sports persons, who made news on Wednesday
An early stage venture capital fund recently raised a Rs 100 crore (Rs 1 billion) Mauritius-based fund to invest in Indian real estate and plans to raise a similar fund later this year.
Punjab Marshalls swept the first home tie 23-15 against Raipur Rangers in possibly the most exciting tie of the Champions Tennis League so far in Chandigarh on Friday.
Rohan Bopanna secured a direct entry into the men's doubles at the Rio Olympics after officially returning to the top-10 in the ATP men's doubles rankings on Monday.
In the ATP doubles, Leander Paes slid to 25, a loss of four places.
India's biggest challenge is to bring in more first time buyers, says Maruti MD Jagdish Khattar.
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