Prism, the parent firm of global travel tech unicorn Oyo, has filed preliminary papers with market regulator Sebi to raise Rs 6,650 crore through an initial public offering (IPO) using a confidential route, people familiar with the development said on Wednesday.
ICICI Prudential Asset Management Company has set a price band of Rs 2,061- Rs 2,165 per share for its Rs 10,600-crore initial public offering (IPO) that will open on Friday. At the upper end of the band, the country's largest asset manager will command a valuation of Rs 1.07 trillion.
India's private-sector banks are likely to lose market share for a second consecutive year in 2025-26, as their loan books continue to expand much slower than overall bank credit.
Tata Trusts chairman Noel Tata and two other powerful trustees considered close to him blocked the reappointment of late Ratan Tata's close associate and businessman Mehli Mistry as trustee, deepening the rift at the philanthropic arm that controls the holding company of Tata Group, people familiar with the matter said.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
It is not yet clear if Diageo Plc is looking to sell its complete stake in RCB.
Diwan Arun Nanda, founder of Rediffusion and one of India's last great admen, changed the industry with memorable campaigns, political ads, and a rare mix of sharp strategy and creativity.
'For 40 years, India valued only technical skills. IITs, coding -- that became everything.' 'Soft skills were sidelined. But those are the skills that will keep you employable now, not technical skills.'
'You can imagine for India what Shuks means not just to the billions of people in India but the entire Indian diaspora around the world.'
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
'It was great to have the Indian roots reflected in full force.'
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
In April 2015, the regulator issued a show cause notice to the bank for alleged violation of portfolio managers' norms with respect to one relationship manager.
'We have seen something do very well when the times are good but maybe not as well when the times are bad.'
The development makes Citibank India the first country franchise within Citigroup to launch an industry innovative mobile payment solution, which has been developed with its technology partner Ezetap.
FBI is probing a computer-security breach targeting Citibank that resulted in a theft of tens of millions of dollars by hackers who appear linked to a Russian cyber gang, according to a media report.
American banking major Citibank on Thursday announced that it will exit from the consumer banking business in India as part of a global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
The police have sought details of transactions undertaken by Citibank fraud mastermind Shivraj Puri from premier bourse National Stock Exchange.
In a startling development in the multi-crore financial scam in Gurgaon, investigators have now trained their guns on more local Citibank executives, and have decided to ask them to appear for questioning.
Thanks to its indemnity cover, Citibank may not have to provide for the alleged multi-crore fraud by Shivraj Puri, the relationship manager at its Gurgaon branch.
Citibank has introduced a new scheme, which will enable its account holders to transfer funds from a Citibank account in the United States to a rupee checking account in India using its online service or ATMs.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Hero Corporate Service on Wednesday said it has identified two more employees who could have colluded with its former Associate Vice-President Sanjay Gupta and Citibank employees in the Rs 300-crore fraud.
A Gurgaon court on Thursday rejected anticipatory bail plea of Raghuraj Puri, father of Shivraj Puri, alleged mastermind of the Rs 400-crore (Rs 4-billion) Citibank fraud.
Citibank saw 92 cases of cloning of debit/credit cards or use of fake cards.
Citibank on Tuesday launched a new 'zero-balance savings account' scheme for women, which also offers housing loans at a concessional 7.0 per cent, credit card and personal accident insurance free of cost.\n\n\n\n
The card provides customers an opportunity to maximise returns even while shopping for groceries or spending at restaurants.
"The modus operandi was simple: Divert the money to the stock markets. It seems it was a structured product, which most people don't understand, as it could be a pure equity or blended product."
Several depositors and high-networth individuals were duped in the Rs 460.91 crore fraud which was engineered by a Citibank's Global Wealth Manager Shivraj Puri who was working at Gurgaon branch of the bank.
They combine financial protection and health and lifestyle management support for non-communicable diseases such as hypertension, diabetes, heart disease, cancers and tumours.
The Gurgaon police on Wednesday ruled out the possibility of questioning Citibank's global CEO Vikram Pandit and other top honchos in connection with the Rs 300 crore (Rs 3 billion) fraud at a bank branch in Gurgaon, near Delhi.
A private equity arm of Citibank has picked up the shares, representing 1.25 per cent stake, at Rs 270 per share, indicating the pricing of the IPO.
Widening the ambit of its probe, the police has sought information from the National Stock Exchange (NSE) about investments made by the alleged mastermind of the Citibank fraud, Shivraj Puri, even as it tried to locate his iPad, which may contain crucial data.
These investors were lured into investing funds on promise of high returns by Puri, the main accused in the Rs 300-crore (Rs 3-billion) scam.
Citibank is no longer quite the king of the Indian credit card market. It has been dethroned by ICICI Bank, which now claims it has 3 million credit cards.
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