Assets worth Rs 3.78 crore belonging to drug kingpin Danish Merchant, a key associate of fugitive gangster Dawood Ibrahim, and his key aide were frozen under the SAFEMA and NDPS Act, an official said on Thursday.
Guillermo del Toro restores and amplifies the morality tale Shelley had meant her book to be. His message is kindness and forgiveness are the greatest virtues and arrogant ego meets its own just end, notes Shreekant Sambrani.
It was a proud evening for Shah Rukh Khan, as elder son Aryan Khan shone under the spotlight for his first ever premiere.
'They wanted the city to be a great business hub. They didn't like the fact that taxes collected in Bombay would go outside the city.'
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
The $22.8 billion CK Hutchison ports deal intensifies geopolitical tensions between the US and China. Chinese media has already called it 'a betrayal of all Chinese people'. Shyam G Menon explains how the proposed sale will reshapes global trade infrastructure.
Recent RBI data indicates net addition of credit cards is running strong at 18 per cent year-on-year (Y-o-Y), but growth in credit card limits is ahead of loans outstanding. Growth in lower limit cards is decelerating fastest. The West and South have more usage and online transactions are more popular than offline, with metros leading growth.
Hitesh Harisinghani/Rediff.com captures the red carpet arrivals at Mamma Mia's opening night at the NMACC.
Looking to regain lost ground in the credit cards segment, HDFC Bank on Monday announced a tie-up with leading payments company Paytm to start selling co-branded plastics before the onset of the festive season. The credit cards will be powered by Visa and will include offerings targeted at millennials, business owners and merchants, an official statement said. Paytm has a reach of over 330 million consumers and 21 million merchants, while HDFC Bank has over 5 million debit, credit and prepaid cards, and serves 2 million merchants through its offerings.
The government may have to rework the valuation of Life Insurance Corporation of India (LIC) for its initial public offering (IPO) if the listing is pushed beyond May, an official said. The current embedded value of LIC, pegged at Rs 5.4 trillion as of September 30 and for the six-month period ended September, will have to be re-evaluated if the issue is pushed beyond May 12, as approved by the Securities and Exchange Board of India (Sebi). This would impact the market value of LIC, that is currently being internally estimated at 3-4 times of the embedded value.
The government is unlikely to come up with the IPO of Life Insurance Corporation (LIC) in the current financial year ending March 2022, as the valuation of the state-owned behemoth is taking more than anticipated time, and the preparatory work is still far from complete. There are still some issues that need to be addressed with regard to the valuation of LIC, a senior official of one of the merchant bankers said. Even after the valuation, there are several regulatory processes that have concluded, the official said.
With a UK court ruling in favour of the extradition of fugitive diamond merchant Nirav Modi, wanted in India on charges of fraud and money laundering in Punjab National Bank (PNB) scam case, Mumbai's Arthur Road jail has kept a special cell ready to lodge him, an official said on Friday.
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
'One cannot avoid speculating whether there was something else at play that led to the uncovering of this saga.'
Four more witnesses listed by industrialist Ness Wadia, accused of molesting, abusing Bollywood actress Preity Zinta during an Indian Premiere League match on May 30 at Wankhede Stadium, have testified before the investigators, denying any arguments between the estranged couple, the police said on Thursday.
'It could take at least a couple of years for his case to go through the entire run of the British judiciary.'
RuPay National Common Mobility Card's offline wallet can be used to make ticket payments in transit, including in metros, cabs, etc, enabling automatic, quick, cashless payments.
The country's largest private lender HDFC Bank is planning to facilitate a shift in its payments module from the existing core banking platform. This would ensure minimal payments downtime, even if core banking is not available. "This 15-month project will be followed by hollowing the customer-master modules from its existing core systems. "It will ensure a single system of record for customers across various products," said Sashidhar Jagdishan, managing director (MD) & chief executive officer (CEO), in the annual report for 2021-22.
The UK court, which had been presented with detailed submissions regarding the precarious mental health of Nirav Modi and a family history of depression and suicide during the extradition proceedings, concluded on Thursday that the diamond merchant's state of mind may well benefit from a move from his London prison cell to Barrack 12 at Mumbai Central Prison on Arthur Road. As part of a very comprehensive judgment handed down by District Judge Samuel Goozee at Westminster Magistrates' Court in London in which he found a prima facie case of fraud and money laundering against the 49-year-old diamond merchant, it is noted that Modi's risk of suicide may be high but there is no evidence to point to immediate suicidal intentions. The judgment refers to the expert defence witness who had assessed Modi, forensic psychiatrist Andrew Forrester, to point out that Barrack 12 may well be a positive change from Wandsworth Prison in south-west London where he is being held on judicial remand, with the COVID-19 pandemic playing a "significant role" in the deterioration of his "depressive disorder".
Industrialist Ness Wadia, facing allegations of molesting his former girlfriend and Bollywood actress Preity Zinta, on Wednesday wrote to the Mumbai police listing the names of nine witnesses he wants quizzed in the case even as investigators are likely to record his statement in the next 48 hours.
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
Private sector lender HDFC Bank on Thursday said the Reserve Bank of India (RBI) has asked it temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after outage at its data centre which impacted operations last month.
The cheque truncation system, which is currently operational at the major clearing houses of the country, has stabilised well and it has made large efficiency gains: RBI
While brick-and-mortar retailers have been the most vocal in their protests, e-tailers do not seem to be in a hurry.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Globally, gold fell by 1.32 per cent to $1,125.40 an ounce and silver by 3.98 per cent to $14.11 an ounce in New York in yesterday's trade.
'Dear Business Partner, Kindly note and inform your all customers that Digital Cashback has been revised from 0.75 per cent to 0.25 per cent with effect from August 1, 2018 across oil industry for all loyalty customers,' said the text message sent by State-owned oil companies to petrol pump operators.
Multi-Commodity Exchange of India is the only listed bourse in the country
Key to Modi's plan will be the interest rates offered for gold deposits.
Valued at $71.2 billion, the bank's market capitalisation is more than that of global banks like Barclays, JP Morgan Chase and Credit Suisse.
The continued suspense over Mahendra Singh Dhoni's future has revived the debate on whether the biggest icons in Indian cricket know when the time is right to bow out of the scene gracefully.
Offer size could vary from Rs 1,200 cr to Rs 2,000 cr
RBI has cited at least 10 areas where it has no control over PSBs.
Unlike the Germans, Britons began to face the hard truths about their colonial empire only recently.
Reports have suggested Rs 400-650 as the possible IPO price
The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
