A panel said BSNL can claim tax breaks if it merges with a loss-making ITI and suggested BSNL can also merge MTNL with itself.
Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging. The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October. However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
Chairman of Indian Oil Corporation, M S Ramachandran, said on Wednesday that the possibility of merging its subsidiary IBP & Co Ltd with the parent company cannot be ruled out.
American Airlines announced the plan to combine with US Airways last month, a deal that also requires regulatory approval.
After opening close to 1,500 branches in 2022-23, HDFC Bank, the country's largest private sector lender, will continue expanding its branch network at the same speed in the current financial year. The lender says branch expansion is crucial for deposit mobilisation. As of March 31, 2023, HDFC Bank had 7,821 branches, up from 6,342 a year ago.
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
The Reserve Bank of India (RBI) has given HDFC Bank six months to migrate HDFC's home loan customers to external benchmark linked lending rate (EBLR), top sources in the bank told Business Standard. Almost half of HDFC's 5.4 million customers are home loan customers. It is mandatory for banks to link retail loans and loans to micro, medium and small enterprises to an external benchmark. Non-banking financial companies do not have such a mandate.
Following the Reserve Bank of India's (RBI's) action against Paytm Payments Bank, participants in the fintech ecosystem have turned their attention to giving priority to compliance with regulatory norms. Fintech industry players say the episode will ensure adherence to such measures. Executives Business Standard spoke to said companies should have clarity on their requirements.
A day after the merger approval of Reliance Capital with RCVL, Anil Ambani-controlled Reliance Energy Ltd on Tuesday approved the merger of Reliance Energy Ventures
Essar wants reverse merger of Essar Telecom Holdings Ltd into its listed group firm, India Securities Ltd.
Nikkei 225 index hit the 40,000 mark for the first time ever on Monday, continuing its bull-run that saw the index reclaim its 1989 peak of 34,000 levels in February. as global investors latched on to Japan's biggest companies on improving shareholder returns, the weaker yen and booming corporate profits. Analysts remain bullish on Japan, mostly aided by gains in technology shares. Adoption of artificial intelligence (AI), according to a note by Morgan Stanley, is likely to benefit Japanese companies, which is almost at par with the US-based companies.
State Bank of Saurashtra first to merge with SBI
With combined accumulated losses of around Rs 2,000 crore (Rs 20 billion), the new entity created by the merger of unlisted Kingfisher Airlines with Deccan Aviation will have many strengths, but its balance sheet will not be one of them.
The OPS camp believes Sasikala's family still calls the shot in the EPS camp.
Net foreign direct investment (FDI) in India, inflows minus outflows, declined sharply in April-August this year to $2.99 billion from $18.03 billion in the same period last year on moderation in global activities and a rise in repatriation. The Reserve Bank of India's data (October 2023 bulletin) said FDI in India was $7.28 billion and FDI by India, that is money invested abroad from the country, was $4.28 billion in April-August 2023. As for 2022, FDI in India was $22.79 billion and FDI by India was $4.76 billion in April-August.
An apex committee under DoT Secretary R Chandraskehar has been set up to oversee the required policy decisions and institutional framework for an alliance between the two public sector undertakings which have been incurring losses.
Corporation Bank has stopped proceedings for the merger of Chikmagalur Kodagu Grameena Bank with itself.
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
Besides, some foreign MNCs -- possibly enticed by the world's second fastest growing economy -- sought to enter India by acquiring into local companies, mostly in telecom, steel and pharma sectors.
Opposing the government's move to merge the country's oldest financial institution with Punjab National Bank, IFCI's employees union on Wednesday proposed a mega merger of IFCI, IDBI, IIBI and IDFC.
The world's largest independent telecom masts player GTL Infrastructure on Wednesday said its expects to complete the merger of Reliance Infratel's tower operations with itself by the middle of next month.
The Reserve Bank of India has approved the merger of Centurion Bank and Bank of Punjab to be effective from October 2005.
The seven-month-old Save Goa Front, a regional outfit launched by former Congressman Churchill Alemao, on Wednesday formally merged with the Congress party.
British bank Barclays Plc could jump into the league of top three foreign banks in India from 13 at present if it succeeds in merging its Dutch rival ABN Amro with itself in a deal that could create a combined entity worth $160 billion.
We will continue to grow at 25 per cent -- we can't handle more than that.
The merger of Indian subsidiaries of Parke Davis and Pfizer, following global amalgamation of the two pharma giants, is delayed with the Supreme Court refusing to entertain a petition challenging a Bombay high court order staying the merger process.
The proposal for merger of State Bank of Saurashtra (SBS) with SBI will go before the Union cabinet, which is expected to give its nod soon.
The Bombay high court has sanctioned the scheme of amalgamation of RPL with Reliance Industries, Mukesh Ambani-led company said in a filing to the Bombay Stock Exchange.
The government is examining a proposal for the merger of IDBI with the IDBI Bank, Union Minister of State for Finance Anandrao Adsul said in Jaipur on Friday.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
A high-level committee on oil PSU recast has advised against merger of any state-run firms and recommended a national shareholding trust to hold government stake in them.
AIBEA General Secretary C H Venkatachalam said the SBI management has made it clear it would expedite the merger process. The association had chalked out the strike plan in view of this immediate threat, Venkatachalam added. The merger of the banks would lead to the closure of a large number of bank branches, thereby curtailing banking services for the masses. The closure of branches would also jeopardise the jobs of bank employees, he said.
Telangana Rashtra Samithi chief K Chandrashekhar Rao along with a delegation met Prime Minister Manmohan Singh to thank him for getting the Telangana Bill passed in Parliament and also discussed issues related to the new state.
Telangana Rashtra Samiti chief K Chandrashekhar Rao along with a delegation met Prime Minister Manmohan Singh to thank him for getting the Telangana Bill passed in Parliament and also discussed issues related to the new state.
