The Industrial Development Bank of India will start its retail banking operation with 100-odd branches from April this year, its chairman M Damodaran said in New Delhi on Tuesday.
Bandhan Financial Services, which is to start banking operations soon, has received a combined equity commitment of Rs 1,600 crore (Rs 16 billion) from International Finance Corp (IFC) and GIC, Singapore's sovereign wealth fund.
Bollywood cornered a major share of Industrial Development Bank of India's financing to the film sector, with a total of 23 Hindi movies receiving the institution's funding till now.
These start-ups are different from the ones that have made it big in India.
The government on Wednesday approved Rs 10,000 crore (Rs 100 billion) 'Fund of Funds for Startups' to support them with an aim to generate employment for 18 lakh persons.
Government has finalised the appointments of State Bank of India managing director A K Batra and former Industrial Development Bank of India deputy managing director T M Nagarajan, as the two new executive directors of Sebi.
The Industrial Development Bank of India-led consortium may get the government's backing for taking over the outstanding dues of foreign lenders, as part of efforts to restart the troubled Dabhol Power project at the earliest.
Foreign investors are believed to have accounted for majority of the bids totalling over 10.5 crore (105 million) shares for MUL's maiden public offer.\n
In a bid to provide assistance to fashion designers, the Small Industries Development Bank of India will create a Rs 50 crore (Rs 500 million) corpus to lend to the sector.
Growing in confidence with every opportunity that has come their way, Afghanistan cricket captain Asghar Stanikzai said his team knows how to beat the big guns of the game but the ICC has to give it enough chances. "You can make a comparison between Afghanistan and other associates. Many associates have been playing for last 30-40 years. They have been participating in World Cup tournaments. If you see our history, at the elite level we're playing only recently. We have really done well something other nations could not do it in 30-40 years," Stanikzai said.
GE and Bechtel have put forward a three-pronged strategy to the Indian lenders, led by the Industrial Development Bank of India, to restart Phase I and complete Phase II of the $3 billion Dabhol project.
M Damodaran, chairman and managing director of UTI Asset Management Company, and administrator of UTI's specified undertaking, on Wednesday assumed the office of the CMD of Industrial Development Bank of India as a temporary measure.
The aim is to raise funds to save the St John Baptist church in suburban Andheri.
The government is working on a proposal of a mega merger of country's three leading financial institutions IDBI, IFCI and IIBI.
'An internationally established price of crude will encourage more players to invest in India, leading to enhanced domestic production which can be made available to domestic refineries,' recommends Anil Agarwal whose company Vedanta Resources has a controlling stake in Cairn India that operates the country's biggest onland oilfield in Barmer, Rajasthan.
GVK Group that runs the swanky MIAL (Mumbai international airport) pipped rival GMR Group to bag the contract for the proposed facility in Navi Mumbai which will ease the severe congestion at the Chhatrapati Shivaji International Airport.
The Small Industries Development Bank of India will soon ink a strategic tie-up agreement with a commercial bank for extending direct credit facilities to the small-scale sector.
The Industrial Development Bank of India will be merged into its subsidiary IDBI Bank, in a reverse merger on similar lines as the merger of ICICI into its subsidiary ICICI Bank.
The move is expected to create space for more budding entrepreneurs in the country to be eligible for self-certification, relaxed public procurement norms, rebate in patent filing, start-up funding, investment and easier closure compliance.
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