Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for Ruchi Soya.
Indian depository receipts (IDR) are set to get going after a long gestation period of six years with Standard Chartered Bank filing a red herring prospectus to raise up to $750 million.
Bikash Mohapatra chats up with Australian athletics legend Cathy Freeman, event ambassador for the Standard Chartered Mumbai Marathon.
Loss of sight after suffering a paralytic stroke more than a decade ago has not dimmed the enthusiasm of Kenyan long distance runner Henry Wanyoike. In fact, he has overcome enormous odds to live an athletics dream. 'I lost my sight, but not my vision. I have achieved without sight what I dreamt when I could see,' said the visually impaired Wanyoike, ahead of his participation in the Standard Chartered Mumbai Marathon this Sunday.
Faced with a rising number of customer complaints on excessive charges, the Reserve Bank of India has asked the Indian Banks' Association to come up with guidelines on what the reasonable charges should be.
The city on Sunday became the first-ever destination, outside Europe and the United States, to host the "Marathon Flame" in the lead up to the seventh Standard Chartered Mumbai Marathon to be held on January 17.
Even after UBS Global Asset Management's $220 million deal to acquire Standard Chartered Bank's mutual fund management business in India fell through, the Swiss financial services giant exuded confidence that it will beef up its asset management business operations in the sub-continent.
As inflation rate is near the upper limit of the comfort zone, experts rule out rate cuts anytime soon
The move comes at a time when four foreign banks - Standard Chartered, Hongkong and Shanghai Banking Corporation, American Express and Citibank -- have moved the Supreme Court with a special leave petition and the hearing for admission of SPL is on September 8. The committee is, however, expected to wait till the Supreme Court decides on the issue before finalising its recommendations. The committee is, however, expected to wait till the Supreme Court decides on the issue.
Standard Chartered and IL&FS Investment Managers are close to signing an agreement to raise a $1 billion India-focused infrastructure private equity fund.
VMIL officials declined to comment on the development. According to sources close to the development, VMIL will sell stake to raise money for expanding Hungama, the content and mobile services arm. The Mumbai-based company has already held two to three rounds of meetings with these private equity investors. The company's valuation has been pegged at Rs 800 crore (Rs 8 billion). The funds raised would be used for Hungama's expansion.
IDFC is merging its Portfolio Management Services business with the newly-acquired Standard Chartered Mutual Fund to sell MF products targeting high net worth individuals. The company is also planning products that offer infrastructure as an asset to investors.
Standard Chartered, the UK-based emerging markets bank, and ArcelorMittal, the world's largest steel company, are considering listing in India using a domestic depositary receipt programme. The proposed listings are still at an exploratory stage.
In view of India's faster industrial growth and improved business confidence, UK-based Standard Chartered Bank (SCB) on Tuesday revised upwards its forecast for the country's economic growth to 8.1 per cent for the current fiscal.
Post the transaction, Tata Motors will own 40 per cent stake in Telcon, while Hitachi will have 60 per cent, the company said.
For the first time since its inception eight years ago, the US $325,000 Standard Chartered Mumbai Marathon will be run on January 16 without the blessings of the Athletics Federation of India. 'They have been invited but there's what I will call a lack of response. But the marathon has the gold label status from the IAAF (international athletics body),' said race director Hugh Jones at a media conference in Mumbai on Tuesday.
Bank FD rates are expected to go down in the near future. Lock in now if you want stability as well as returns
"The examination will cover several aspects, including standalone profiles of the Indian subsidiaries, our assessment of the strength and quality of parent support, and translation of global ratings to the Crisil scale," Crisil Ratings Senior Director Raman Uberoi said.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
Images from the Mumbai Marathon, held on Sunday.
African runners are expected to steal the show in Sunday's $310,000 prize money 7th Standard Chartered Mumbai Marathon.
Daniel O'Brien, regarded as the greatest decathlete of the 1990s, says the marathon is similar to the decathlon when one completes it. 'It is a great feeling of accomplishment.'
The Indian market is very competitive because you have existing foreign banks, private banks, new foreign banks and public sector banks, says Mike DeNoma, executive director, StanChart.
The Supreme Court stayed the National Consumer Commission's order, which had capped the interest rate chargeable on credit card holders at 30 per cent. The verdict will allow banks to levy any interest rate they consider applicable to card holders. In their appeal, the banks said they were following the guidelines of the RBI, which was the only authority to regulate the fixing of the interest. The commission had no jurisdiction to pass an order directly to the banks.
It's good news for those who fly frequently. They can avail of some interesting offers from their credit card companies, including co-branded airline cards, zero per cent interest on ticket repayments and even free tickets in a few cases.
Telecom infrastructure major GTL Infrastructure will use its Rs 2,200 crore cash reserves to buy back foreign currency convertible bonds.
Earlier, the court had sought response from the Central government and K Nageshwar Rao, Special Director, ED, on the bank's petition seeking quashing of the Bombay high court order that refused to stay the proceedings.Earlier, the court had sought response from the Central government and K Nageshwar Rao, Special Director, ED, on the bank's petition seeking quashing of the Bombay high court order that refused to stay the proceedings.
Participants from Indian sub-continent expect their average wealth to grow to $9.07 million in 2010.
Plastic money that lets you buy almost everything by just swiping the card can also turn out to be your worst nightmare.
Having cleaned up their credit card portfolios and sensing a change in the economic environment, issuers such as SBI Cards, Standard Chartered and HSBC are seeing an increase in their credit card base at a marginal pace.
"Opening up will give us new opportunities such as greater freedom to open branches. On the inorganic side, there could be opportunities to take larger stakes in banks or to take management control. If anything of that happens, we will be interested," says Standard Chartered's regional chief executive for India and South Asia Neeraj Swaroop.
The Supreme Court on Monday admitted the appeals of Standard Chartered Bank, HSBC and Citibank challenging the order of the National Consumer Commission imposing restriction on charging credit card holders an interest rate in excess of 30 per cent.
India story, pressure to invest are driving spurt in PE activity.
Standard Chartered Plc's Rs 2,760-crore (Rs 27.60 billion) maiden Indian depository receipt (IDR) issue got a robust demand from investors on the final day of the offer on Friday and got subscribed a good 2.19 times with most of the bids coming in from qualified institutional buyers (QIBs).
Entries for the Standard Chartered event close on August 18.
India is set to emerge as the world's third largest economy by 2030.
An official close to the development said the tender invited by the SUUTI closed in the second week of this month and 12 parties submitted their expressions of interest.
