All shares held by SBI in the five associate banks will stand cancelled after merger.
Air India's entire European operations are carried out with Boeing Dreamliner planes.
Axis Bank Managing Director & Chief Executive Officer Shikha Sharma on the new mechanism for non-performing loans, the bank's loan portfolio, industry outlook and the bank's future plans.
A N Shanbhag explains issues related to long-term capital gains and equity.
The main issue is about their valuation as, unlike listed companies, they are unregulated, and the buyer can take advantage of this.
The Reserve Bank of India (RBI) has offered some leeway to banks for early detection and resolution of bad loans. Under the new regime kicking off from April 1, lenders can finance 50 per cent of the outstanding loan value, RBI said in Framework for Revitalising Distressed Assets in the Economy, released on Thursday.
According to a Deutsche Bank report, the Idea-Vodafone combine will have to pay a 30 per cent lower annual installment on spectrum due to the longer duration of the payment tenure.
The acquisition would create largest US depository institution with over $900 billion of customer deposits, financial services firm, a JPMorgan statement said. However, the transaction excludes senior unsecured debt, subordinated debt and preferred stock of Washington Mutual's banks, it added.
Following Hyderabad-based GMR Infrastructure's successful bid for the new Istanbul airport and DS Construction's acquisition of energy company Globeleq's US assets, many mid-size infrastructure companies are planning to venture overseas.
This was mostly driven by Qatar Foundation Endowment's $1.26 billion investment in Bharti Airtel.
Striking another major deal in less than four months, Adani Power on Mondayentered into a binding agreement with Gautam Thapar-led Avantha Group to buy out its 600 MW Korba West unit for more than Rs 4,200 crore.
Darwin Group has offered Rs 14,000-crore deal to the lenders for acquiring the grounded airline
The loans in rupees would cover any associated transaction costs. Standard Chartered Bank, State Bank of India and Barclays are the major contributors to this debt portfolio.
The MF Industry had a cash-rich 2014 as it crossed the Rs 3 trillion mark.
Apart from SIPS and STPS, value- averaging can help investors make more money, says Devangshu Datta.
Bharti Airtel said it might look at diluting some of its equity either at Bharti Airtel or at its tower subsidiary as one of the options to fund the $10.7-billion acquisition of African assets of Zain Telecom.
"Subject to synergy, subject to reasonable similarity in culture, they (public sector banks) in the next 5-10 years really need to look at consolidation and merger," finance secretary Ashok Chawla said after launching the mobile banking service of Vijaya Bank in New Delhi.
Merger and acquisition (M&A) activity involving Indian companies included 156 deals with a total disclosed deal value of $12.1 billion in the quarter.
Under Sharma Axis Bank has also taken the lead in focusing on technology, which has now become core to almost every other lender's strategy.
US SEC order says that Cadbury India paid an agent a total of USD 90,666 (Rs 61.70 lakh) for "providing consultation, arrange statutory/government prescribed formats of applications to be filed for various statutory clearances, documentation, preparation of files and the submission of the same with government authorities," for specific licences.
Bansal has picked up a majority stake in Chaitanya Rural Intermediation Development Services, a company which runs microfinance institution Chaitanya India Fin Credit.
The air defence command is to be rolled out by the beginning of next year and the Peninsula command by the end of 2021, Gen Rawat told a select group of journalists. The Indian Air Force will helm the air defence command and all-long range missiles as well as air defence assets will come under it, he said.
The Bangalore-headquartered company is believed to be evaluating two-three companies, which are in the revenue bracket of $100-200 million to eliminate some gaps that exist in its services offerings and increase focus on certain verticals, which have been least affected in the midst of the economic slowdown. It's reliably learnt that the company is looking at healthcare and energy and utilities as the two major areas for possible acquisitions.
The Supreme Court is expected to deliver its final verdict on coal mine allocations later this week.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
The Treasury has already pledged the first-half of the mega $700-billion bailout package. On Thursday, the Senate passed the request by President George Bush to release the second-half of the rescue plan. The request was made by Bush on behalf of President-elect Barack Obama.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
Imperial Energy, which operates in Siberia's Tomsk region and far eastern Kamchatka, has no strategic fields and deposits under its control, business channel RBC TV reported quoting sources in the natural resources and environment ministry. The London-based oil company owns a number of licences and hopes to produce 35,000 barrels per day (bpd) by the end of 2009 and 80,000 bpd by 2011, which could be directly exported to energy-hungry India.
The company had invested around Rs 1,500 crore in the business; may exit at Rs 1,100 crore.
A financial turnaround in Tata Steel and Tata Motors has come as a shot in the arm for Chandra.
After years of losing money on two of the group's biggest bets - global steel business and domestic passenger cars - there are strong signs of a revival in both businesses.
On Wednesday, Daiichi Sankyo's lawyers argued for a stay on stake sale by Fortis, which was opposed by counsels of the hospital chain and promoter entities.
Country's biggest lender State Bank of India had proposed merger of five associate banks.
The apex court had on February 14 convicted current All India Anna Dravida Munnetra Kazhagam chief V K Sasikala and two others in the case while abating the proceedings against Jayalalithaa as she had died.
While the deal would help reduce debt at Jindal Steel, it would also be a boon for State Bank of India, which has been trying to broker an agreement between the companies
Ranbaxy was asked to sell all products containing Leuprorelin which are marketed and supplied under brand name Eligard.
The India-Japan 2+2 dialogue added strategic heft to the special relationship in the wake of growing Chinese assertiveness on regional affairs, points out Dr Rajaram Panda.
The Wadia group is looking to renegotiate the price of Groupe Danone's stake in Britannia Industries following the market slump and the credit squeeze in the global markets.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
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