Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, the largest private-sector lender of the country, has just completed his first term. The period October 2020-October 2023 was a roller coaster, and the second one, which started on October 27, could be more interesting as the lender absorbs the impact of the merger of HDFC, which was integrated on July 1, and moves to the next growth phase. Soon after he took over the reins from Aditya Puri on October 27, 2020, the Reserve Bank of India (RBI) debarred HDFC Bank from enrolling new credit card customers and launching new products under the Digital 2.0 programme due to repeated outages on its mobile-banking and internet-banking platforms.
The proposed merger of Federal Bank and Catholic Syrian Bank may be delayed, following the announcement of dates for general elections. All major political parties, especially the Congress, seem to be sympathising with the Thrissur Arch Diocese of the Catholic church, which is vehemently opposing the merger move. Since the church has quite an influence in parliamentary constituencies such as Thrissur, Chalakudy, all political parties are supporting the anti-merger move.
A crucial meeting of the Telangana Rastra Samithi to decide the political future of Telangana will be held on Tuesday at Hyderabad. Sources say that the popular mood in the party is that they should not merge with the Congress. Vicky Nanjappa reports.
FMC has been asked to go ahead with the appointment of 20 experts, which the commission had sought earlier.
On the night of July 5, the Tigers launched their first kamikaze operation. Miller took the wheels of the explosive-packed truck, smiled at everyone as he turned the ignition key and drove it slowly towards the Sri Lankan military camp. A few moments later all of Jaffna heard a thunderous explosion that brought the complex crashing down in clouds of dust. Miller had given birth to a deadly tactic that Prabhakaran would employ time and again with devastating consequences to Sri Lanka -- and India. A fascinating excerpt from M R Narayan Swamy's must read new book, The Rout Of Prabhakaran.
Could it be about clout? Given its size and influence, RIL doesn't need the media for that, notes Vanita Kohli-Khandekhar.
BJP MLA Madan Dilawar and BSP national secretary Satish Mishra had approached the division bench on Tuesday appealing against the single-judge bench order.
We have to ensure that mergers do not substantially reduce competition and consumer choice, says Indian Finance Minister P Chidambaram.
RJD President Lalu Prasad Yadav said on Sunday that the merger of six Janata Parivar parties to counter the BJP has already "happened".
The merger between the RIL and RPL would enhance value for shareholders of both the companies, RIL Chairman Mukesh Ambani said in Mumbai on Monday.
Finance Minister Arun Jaitley will take a final call on whether to break the tradition of presenting a separate Rail Budget, by merging it with the General Budget.
Beleaguered retail chain Subhiksha on Friday said Kotak Mahindra Bank, which had lent Rs 40 crore (Rs 400 million) to it, on Friday objected to merger of the company with city-based Blue Green Constructions and Investments Ltd.
Shareholders of Mukesh Ambani-led Reliance Industries met in Mumbai on Saturday in an extra-ordinary general meeting to vote on the merger of its subsidiary Reliance Petroleum with the company.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
The government has approved the merger of fuel retailer IBP Co Ltd with IOC in an amalgamation that would provide the state-run refiner improve profits and allow the new entity to compete against private firms and multinationals.
Country's biggest lender State Bank of India had proposed merger of five associate banks.
While boards of both the banks had approved the merger plan, bank employees went on one-day strike protesting the move.
Lanco Industries Ltd approved the merger of the company with Lanco Kalahasthi Castings Ltd. Ernst & Young Private Ltd has been commissioned to recommend the swap ratio.
Roger Federer called on Wednesday for a merger between the men's ATP Tour and the WTA, which runs the women's circuit, as tennis wades through a lengthy coronavirus shutdown with lower-level professionals in deep financial crisis. The tennis season was suspended in March due to the COVID-19 pandemic and the hiatus will continue at least until mid-July, depriving lower-level players, who depend solely on tournament winnings, of the chance to earn a living.
Could address the concerns over Companies Act provision on the issue
Raghu Menon, CMD of National Aviation Company of India (Nacil), had said last year that more than 70 per cent of the merger process would be completed by the end of FY09.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
The Congress believes the Telangana Rashtra Samithi will decide in favour of a merger as the decision on statehood has deprived the regional party of its chief electoral plank and an issue that defined its identity. Anita Katyal reports
The mystery surrounding the alleged fund diversion from Zee Entertainment Enterprises (Zee) by founders Subhash Chandra and Punit Goenka has thickened with speculations of an amount multiple times higher than that cited by the ex-parte interim order passed by the Securities and Exchange Board of India (Sebi) dated June 12, 2023. While Zee shares witnessed a fresh selloff on Wednesday, news reports of accounting fraud left investors guessing about the hole in the media broadcaster's books. An order by the Securities Appellate Tribunal (SAT) in October 2023 had clearly hinted that Sebi's investigation had found a deeper rout.
Credit-to-deposit (CD) ratio of major public sector and private sector banks during the October-December quarter of FY24 inched up as compared to the previous quarter though government-owned lenders reported a lower rate than their private peers. CD ratio is the ratio of the funds that banks lend as compared to the funds raised in the form of deposits. The CD ratio of top public sector banks (PSBs) - State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank - was lower than their private counterparts.
In a major setback, the much-anticipated merger process between Hockey India and Indian Hockey Federation fell apart, thereby plunging the fate of the national game into deep uncertainty.
The telecom ministry will decide on the merger between the state-owned telecom companies, Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, only after the listing of the former.
Hindalco Industries Ltd okays merger of Indo Gulf Corporation Ltds copper business with the company.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
Payouts to key management personnel in non-banking financial companies (NBFCs) are under the banking regulator's scrutiny. Top industry officials said this is a follow-through on the Reserve Bank of India's (RBI's) circular of April 29, 2022, which asked NBFCs in the "middle" and "upper" layer of its four-tiered scale-based regulatory (SBR) framework to put in place a board-approved compensation policy.
While Airtel may be pushed to to No 3, Jio will find it mighty difficult to beat the new entity.
Merged entity to be named Kingfisher Airlines.
