Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
He will replace Add Jacobs, who will retire after less than one year in the post at Shell.\n
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
Crisis-ridden National Spot Exchange on Tuesday sacked its Managing Director and CEO Anjani Sinha and six other top executives on a day it failed to meet the first scheduled repayment to investors.
Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped at the Delhi international airport following a look out circular issued against them in the alleged fraud at the fintech firm, sources said. The couple were to travel to New York late on Thursday for vacation when they were stopped at the airport on the basis of a look out circular issued by the Economic Offences Wing (EoW) of the Delhi police. EoW is investigating complaints of payments being made at BharatPe to fake human resource consultancies allegedly operated by Grover and family. They have also been accused of backdating invoices to use funds.
With his elevation as the CEO of Twitter, Parag Agrawal, in whom co-founder of the microblogging giant Jack Dorsey has "bone-deep" trust, joins the growing power club of Indian-origin executives helming US-based global multinationals. Twitter's outgoing CEO Dorsey announced on Monday that 37-year old Agrawal, an Indian Institute of Technology, Bombay and Stanford University alumnus, will be the company's new chief executive as he stepped down after 16 years at the company that he co-founded and helmed. A report in The New York Times said Agrawal will receive an annual salary of $1 million, in addition to bonuses, restricted stock units and performance-based stock units.
'Abid Neemuchwala has demonstrated a deep understanding of technology, business vision, sound judgment, and an innate ability to bring people together.'
Finalising the nomination process to elect Shashank Manohar's successor as the next independent chairman of the world cricket body is the sole agenda for the ICC Board, which will meet virtually on Monday.
Global beverages and snacks major PepsiCo on Monday roped in former Nokia head for emerging markets, including India, D Shivakumar as its Chairman and CEO, India Region.
Microsoft, like many tech firms, is not a model of diversity.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Current Board member Baird has received the unanimous endorsement from fellow CA directors and state chairs to take up the charge next February, making him the fourth chair in less than 18 months.
Europe's largest carmaker had previously admitted to installing cheat software on up to 11 million vehicles worldwide with smaller diesel engines.
The FIH also stated that the draw of the Men's Hockey World Cup, to be hosted jointly by Bhubaneswar and Rourkela from January 13 to 29 next year, will take place as per schedule on September 8.
Afghanistan have appointed former Pakistan players Younis Khan and Umar Gul as batting and bowling consultants respectively for their training camp in the United Arab Emirates, the country's cricket board said.
Nasdaq-listed information technology (IT) services firm Cognizant will incur the cost of $400 million over two years as it sets to restructure its operations amid sluggish growth rates. Its NextGen Program aims at simplifying the operating model, optimising corporate functions, and consolidating and realigning office space to reflect a post-pandemic hybrid work environment. As part of this structural shift, Cognizant will eliminate 80,000 seats, or 11 million square feet of real estate in large cities in India.
Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
It was alleged in an audit that Subramanian was the Yogi, but Sebi dismissed that claim in its final report on February 11.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Indra Nooyi, the only female representative in the ICC's Board of Directors, has decided to recuse herself from the upcoming sale of its media rights process as she is also a member of potential digital rights bidder Amazon's board.
A Delhi court on Wednesday sent former MD and CEO of National Stock Exchange Ravi Narain to two days' custodial interrogation by Enforcement Directorate in a money laundering case related to alleged illegal phone tapping and snooping on stock exchange employees. Special Judge Sunena Sharma allowed ED's plea seeking Narain's custody till September 9 after the accused was produced before him by the probe agency. ED's Special Public Prosecutor N K Matta told the court that Narain was required to be confronted with other accused persons and evidence in the matter to unearth the larger conspiracy in the matter.
Meena said political parties should be responsible enough to decide to what extent they should use the Sabarimala issue during the campaign.
This comes in the wake of allegations of financial irregularities by the erstwhile management led by Harish Moolchandani.
Dorsey works to rebuild employee morale and confidence at Twitter after a spate of high-level departures.
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
Jared Kushner, the 35-year-old, played a key role in the presidential campaign and his new White House job will cover both domestic and foreign policy.
The Enforcement Directorate's (ED's) chargesheet in the National Stock Exchange (NSE) illegal phone-tapping case points to insider trading during the tenures of Chitra Ramkrishna and Ravi Narain as managing director and chief executive officer of the bourse. The federal agency will soon be sharing the details with the Securities and Exchange Board of India (SEBI) for further inquiry, two people aware of the findings told Business Standard. The ED, which filed its prosecution complaint (commonly known as chargesheet), alleged that Narain and Ramkrishna were the "key conspirators" and had assisted iSec Services to generate money to the tune of Rs 24 crore for exchanging crucial information, the people said.
A delegation from International Hockey Federation (FIH) is in New Delhi to discuss the way forward and avert a possible suspension of Hockey India (HI), currently placed under a Committee of Administrators.
Aviation watchdog DGCA will conduct a special audit of grounded airline Go First's facilities in the national capital and Mumbai from July 4 to 6 before approving the revival plan for resumption of flights, according to a senior official. Cash-strapped Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process. Meanwhile, a senior executive at the airline expressed hope of resuming ticket sales -- which was paused by DGCA following the grounding of the carrier -- from July 7 or July 8 and subsequent relaunch of the operations from middle of next month.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
We are going to deliver 36 aircraft. If the government of India wants more aircraft, we will be pleased to deliver, he said.
Despite Covid downturn, CEO salaries went up by an average of 19% in FY21.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
WhatsApp on Wednesday announced the expansion of its payments service in India to make it easier for people transacting with businesses to pay for purchases directly in the chat, with a choice of UPI apps, including rival digital payment options, as well as credit and debit cards. Meta founder and CEO Mark Zuckerberg asserted that India is leading the world in people and businesses embracing messaging. WhatsApp said it is working with partners Razorpay and PayU "to make paying for something as simple as sending a message", as the Meta-owned platform unveiled a host of new features to woo businesses in India's booming commerce market.
Standard Chartered has appointed Zarin Daruwala of ICICI Bank as its new Chief Executive.
'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
