The central probe agency had filed a money laundering case to probe the deal and is carrying out the action to collect evidence under the Prevention of Money Laundering Act (PMLA), officials said.
Balance transfer is a facility in which you can transfer outstanding balance from one credit card to another. It works well if you have multiple cards.
The issue dates back many years when the actor and others proposed bringing Sony TV channel to India.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
In a statement, Fortis said under the accepted offer, IHH would infuse Rs 4,000 crore through subscription to the preferential allotment at a price of Rs 170 per share. The Malaysian firm will then make a mandatory open offer to public shareholders for 26 per cent of the outstanding shares post issuance.
Analysts expect inflation to peak in the first half of 2016-17 and moderate, thereafter, on the back of positive impact of monsoons
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
Pvt sector holds back, waits for key reforms
The RBI is thinking of a model code of conduct for banks, to ensure customer rights in line with the earlier charter it had framed in this regard.
After months of denying there was a liquidity problem, Governor Raghuram Rajan has reversed course.
A revival in investment is likely to be a key near-term initiative.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
The RBI said recently that the upsurge in inflation in April was led by food and commodity prices.
Over 25,000 sq ft leased by them in last three months after new maternity Act. Raghavendra Kamath reports.
'We created war rooms -- from an IT perspective and also a customer war room -- to address any challenges that come up.'
Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
IIT Roorkee has so far seen the highest domestic salary rise Rs 80 lakh, up by a third from Rs 60 lakh last year.
May touch 64/$ due to foreign flows slowing down
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
While Raghuram Rajan has said in the past that other factors, including domestic fundamentals, outweigh the US Fed policy meet, this time it would be different
Among India's capital-starved local banks, Essar is viewed as too big to fail.
Environmental campaigners say they hope two outstanding court cases can still stop India's Adani Enterprises Ltd from developing a A$10 billion ($7.6 billion) coal project.
After fighting inflation for more than two years, Reserve Bank of India (RBI) Governor Duvvuri Subbarao finally managed to bring it below the five per cent level - the tolerance level of the central bank - in FY14.
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
Pune saw the fastest growth in terms of number of super-rich people.
The company has battled opposition from green groups since starting work on the project five years ago
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
SBI said the crisis in Grece would have little impact on the bank.
The high new GDP numbers are puzzling.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Firms have to adhere to strict compliance requirements mandated by global parents
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
'Some business families would probably have to revert to their core businesses, which the IBC will ensure.'
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