'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
They teamed up with a former AIADMK leader KC Palanisami and appealed to the AIADMK general secretary Edappadi K Palaniswami and Panneerselvam to merge their factions and strive for the united AIADMK's victory in the 2026 assembly election.
Jain Irrigation Systems Ltd okayed merger of Jain Processed Foods Pvt Ltd with the company.
Himachal Futuristic Communications Ltd holders approved the merger of HFCL Trade-Invest Ltd with the company.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
Take the Rediff Business Quiz and find out how much you know about mergers and acquisitions.
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.
Air India will soon have a new crew management system that will help strengthen rostering rules and enable faster recovery from scheduled disruptions. In a message to the staff on Friday, Air India CEO and MD Campbell Wilson said that in the next two weeks, there will be the CAE Crew Management System that will "strengthen our systems' adherence to rostering rules, improving the tracking of training & qualifications, and enabling faster recovery from schedule disruptions". The new system also comes against the backdrop of concerns flagged by pilots' unions about rostering issues.
FMC has been asked to go ahead with the appointment of 20 experts, which the commission had sought earlier.
HDFC Bank on Monday reported a consolidated net profit of Rs 16,811 crore for the September quarter, its maiden quarterly earnings announcement after merging parent HDFC with itself. On a standalone basis, the largest private sector lender reported a net profit of Rs 15,976 crore. In the year-ago period, the net profit of the merged entity would have been Rs 11,162 crore on a consolidated level while the same on a standalone basis would have been Rs 10,606 crore.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
We have to ensure that mergers do not substantially reduce competition and consumer choice, says Indian Finance Minister P Chidambaram.
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.
RJD President Lalu Prasad Yadav said on Sunday that the merger of six Janata Parivar parties to counter the BJP has already "happened".
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
The Securities Appellate Tribunal (SAT) on Thursday questioned market regulator Sebi's credibility on completing its investigation within a stipulated time in the Zee Entertainment Enterprises' (ZEEL) matter. SAT was hearing Zee's plea against Sebi's order baring Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra from holding any key managerial positions in the company and other organisations for allegedly siphoning off funds of the media firm. "There is no certainty that these eight months won't be extended. ...past record of Sebi is that they have always extended it (investigation).
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.
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.
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.
BJP MLA Madan Dilawar and BSP national secretary Satish Mishra had approached the division bench on Tuesday appealing against the single-judge bench order.
After the latest rout, the American depositary receipt (ADR) premium of HDFC Bank to its local shares has shrunk to nearly zero. Shares of HDFC Bank on Thursday fell 3.1 per cent to Rs 1,490, extending its two-day decline to 11 per cent. Meanwhile, the ADR has slumped over 15 per cent in the past two trading sessions.
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.
Country's biggest lender State Bank of India had proposed merger of five associate banks.
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.
Could address the concerns over Companies Act provision on the issue
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
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.
Hindalco Industries Ltd okays merger of Indo Gulf Corporation Ltds copper business with the company.
Jan Adhikar Party leader Pappu Yadav joined the Congress on Wednesday and announced the merger of his outfit.
