The British pharma and consumer products maker had announced the open offer in November last year to raise its stake in its subsidiary to 75 per cent from 43.16 per cent at present.
The 21-year-old clinched bronze in the coveted Alpine Ejder 3200 Cup organised by the Federation Internationale de Ski (FIS) -- skiing's international governing body -- at the Palandoken Ski Centre in Erzurum in Turkey.
With real estate prices moving southwards, several banks and financial institutions are buying their own properties and shifting from rented and leased premises.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
The list of international sporting events affected by a new virus outbreak in China grew on Wednesday with skiing World Cup races in Yanqing cancelled and Olympic women's football in Australia in doubt over concerns about athletes' safety. Badminton, tennis and basketball were among other sports whose governing bodies were rearranging events, weighing possible changes or monitoring the implications of the outbreak.
Moody's has revised to positive the outlook on the long- term ratings of private sector lenders
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Say will take up the issue with the HUL management.
SBI will auction two non-performing accounts (NPAs) next month to recover dues of over Rs 313 crore, according to a notice by the lender. The two accounts to be put up for e-auction on August 6 are Bhadreshwar Vidyut Pvt Ltd (BVPL) with a loan outstanding of Rs 262.73 crore and GOL Offshore Ltd with Rs 50.75 crore dues. "In terms of the bank's policy on sale on financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/banks/NBFCs/FIs, on the terms and conditions indicated there against," SBI said in the notice. The reserve price for the auction of Bhadreshwar Vidyut is set at Rs 100.12 crore and for GOL Offshore at Rs 51 crore.
Conversion of outstandings into equity even partially should be a strict no-no says Chatered Accountant S Murlidharan
The comments assume significance in view of the charges faced by HSBC
The RBI stipulated on Thursday that foreign institutional investors would require a mandate from participatory note holders to hedge on their behalf.
The international skiing federation (FIS) has called on all winter sports governing bodies to oppose any plan to stage the 2022 soccer World Cup in the winter, fearing it will damage their own competitions.
In a communication to L&T, the financial institutions on Thursday said they were withdrawing the nominations of Sinha and Deshmukh from the board with immediate effect.
When it comes to losing a job permanently, the youngest and the oldest segments in the workforce have reported an increase in setbacks in the second wave of the pandemic, a survey of by a Fortune500 company has said. The survey, conducted in April this year, covered 2,000 persons in India. Six per cent of those over 55 years of age reported having permanently lost their job, as against 4 per cent last year. In those aged under 24, the proportion reporting a permanent job loss has increased to 11 per cent from 10 per cent in the year-ago period, the survey done by financial technology company FIS said.
Banks are set to sell dud-loans worth Rs 90,000 crore of 22 firms in the first tranche to the National Asset Reconstruction Company (NARCL). It's reason for cheer given that such sales to asset reconstruction companies (ARCs) have been poor in recent times. In fiscal 2020, their assets under management (AUM) contracted by 4 per cent; and in fiscal 2021, it fell by another 100 basis points to Rs 1.07 trillion. So, why are we where we are?
Fitch Ratings on Monday said the shock to economic activity from the latest wave of COVID-19 pandemic will be less severe than the one in 2020, but recovery is likely to be delayed as economic activity dropped in April-May. The global rating agency said there are growing indications that the latest wave of COVID-19 infections will add to risks among financial institutions (FIs) and anticipates that the Reserve Bank of India (RBI) may introduce additional measures to support the financial sector if indications of economic stress mount.
The government is not averse to mega merger of banks and financial institutions like IDBI and IFCI, if all stipulated norms of the Reserve Bank of India are met, Finance Minister P Chidambaram said on Wednesday.
IDBI-led lenders will meet Naresh Chandra panel soon to discuss future course of action on the 2,184 MW Dabhol Power project, before proceeding for a final negotiation with overseas lenders on May 12 in London.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
The government on Friday decided to stand guarantee to domestic financial institutions to settle foreign debts of Dabhol Power Project as part of its efforts to settle the issue and restart the power company.
This will help expedite private sector power projects, said sources.
Indian FIs are fast getting their act together to counter stiff competition from the banking entities.
Life Insurance Corporation of India and General Insurance Corporation of India are planning to take exposure in Maruti Udyog from the secondary market once the shares in the automaker drop below Rs 115.
After upgrading India's foreign currency debt rating, Moody's Investor Service on Wednesday upgraded the foreign currency deposit, debt and issuer ratings for 11 Indian banks and financial institutions.
A clutch of global financial institutions led by T Rowe Price, HSBC and an investment arm of the Government of Singapore are the lead investors in the Rs 600 crore (Rs 6 billion) qualified institutional placement (QIP) issue of UB Holdings.
State Bank of India on Monday invited bids from strategic as well as financial bidders for stake sale in ailing Jet Airways, and the bids have to be submitted by April 10, said a public notice.
For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
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