India Blog News - Page 10

Indian-American CEO of IT firm, FutureNet Group pleads guilty to giving over $6,500 as bribe in the US

Parimal Mehta, 54, a former CEO of FutureNet Group Inc, according to guilty plea, between 2009 and 2016, hand-delivered more than $6,500 to Charles L Dodd, the former Director of Detroit's Office of Departmental Technology Services.

Two-day bank strike may hit transactions worth Rs 20,000 crore, says Assocham; urges bank unions to call off strike

Assocham also urged the government to come up with a stimulus plan for restoring the health of public sector banks.

ICICI Bank orders independent probe on whistleblower's complaint of 'conflict of interest' against CEO and MD Chanda Kochhar

The board of ICICI Bank expressed full faith in Chanda Kochhar, whose current tenure as CEO is set to end on 31 March, 2019. It had reviewed credit approval processes and found them to be robust, according to a 28 March filing by the bank.

Petrol, diesel rates down by one paisa: It's a cruel joke, but why expect a cut when taxes on fuel remain unchanged?

It takes time for changes in global crude oil prices to impact domestic petrol and diesel prices.

Two-day bank strike: Nearly 60,000 employees protest in Maharashtra against 'meagre' 2% wage hike; ATMs go dry in Moradabad

Nearly 10 lakh employees are participating in the nationwide strike as part of "our democratic right by forgoing our salary", All India Bank Employees Association (AIBEA), general secretary C H Venkatachalam had said earlier in the day.

AirAsia shares tumble as probe threatens plans for India unit's IPO; CEO Tony Fernandes says reportage is 'inaccurate'

Air Asia India had 14 planes at end-2017, and has plans to expand its fleet to 60 over the next five years. Under Indian rules, it can launch international flights once it has 20 planes.

Petrol, diesel price cut revised to 1 paisa a litre; oil cos blame clerical error for saying cut will be 60 and 56 paise

Petrol and diesel prices in India are linked to Singapore gasoline prices and Arab Gulf diesel prices, which mostly track movements in crude oil prices.

Air Asia denies 'wrongdoing'; CBI case may trigger calls for cancellation of operator's India licence, feel experts

AirAsia India, where Tatas have 51 percent stake, began operations in 2014.

Bank services impacted as over a million employees go on 2-day strike; salary withdrawals to be affected

Banking activities in public sector banks across the country have been interrupted as employees go on two-day nation-wide strike against the meagre two percent salary hike offered by the management - Indian Banks Association.

Mudra loan fact check: Four questions on Prime Minister Narendra Modi’s pet start-up funding scheme

Low refinance figures, average loan ticket size raise questions on the effectiveness of PM Modi’s Mudra loan scheme on the ground

Fortis stake sale: Board outlines fresh bidding process, bidders given 10 days for financial, legal due diligence

The bids should also provide a plan for funding Fortis’s acquisition of RHT Health Trust’s Indian assets, agreed in November, and options to private equity investors to exit Fortis’s unit SRL Ltd.

Flying budget carrier IndiGo to get costlier; airline levies Rs 400 surcharge on domestic fares to offset rising fuel prices

IndiGo does not expect the marginal increase in airfare to have any significant adverse impact on the air traffic demand

CBI files case against AirAsia CEO Tony Fernandes, civil aviation ministry officials and others for alleged corruption

Central Bureau of Investigation names six people in its FIR, along with three firms and unknown government servants.

State-owned banks on two-day nationwide strike from 30 May, confirms union; ATMs, salary could be hit, but no reason for panic

Apex bank union AIBEA boss C H Venkatachalam warns of likely cash crunch on Wednesday, Thursday #BankStrike #ATMs #CashCrunch #2DayBankStrike

Sensex halts 3-day winning run, ends below 35,000 mark; Re depreciates 45 paise

The benchmark Sensex touched a low of 34,922.18.

Startup India: How fintech companies can help entrepreneurs roll out operations on the right note

Fintech firms are offering value-added services like GST registration and filing, accounting with chartered accountant (CA) support, among others.

Narendra Modi’s unfulfilled promises: Govt must give up control of PSBs; regime has no business to be in business

In its fifth year, the Modi government should walk the talk on privatisation of state-run banks.

Reliance Communications offers Rs 500 cr to Ericsson, NCLAT for amicable settlement

Ericsson, which had signed a 7-year deal in 2014 to operate and manage RCom's nationwide telecom network, had alleged that it had not been paid the dues.

Larsen and Toubro Construction bags orders worth Rs 5,704 cr; water, effluent treatment biz secures deal

Larsen and Toubro said, "The water and effluent treatment business of L&T Construction has secured orders worth Rs 5,704 crore," the engineering and construction major said in a BSE filing.

Sensex slips 57 points in early trade on weak Asian cues, Nifty down 24 points; Re weak by 22 paise

The 30-share Sensex was trading 57.30 points, or 0.16 percent, lower at 35,108.18 in early deals. It touched a high of 35,232.44 in opening trade.

Walmart's Flipkart acquisition: Traders body CAIT files objection with competition watchdog against near $16 bn deal

It also claimed that Flipkart is a combination of exclusive tie-ups and preferential sellers, where even online vendors face discriminatory conditions.

Sebi to implement system-driven disclosures for non-promoters, directors, employees of listed firms

Sebi said the system would continue to run in parallel with the existing system.

RBI asks Rupee Co-operative Bank to provide restricted services for three more months till August

The co-operative bank was given its last extension for six months between 22 November, 2017, and 31 May, 2018.

Vedanta says TN govt's decision to shut Tuticorin copper plant 'unfortunate'; to study closure order

The closure of Vedanta's copper plant caps sustained protests and campaign for the last several years by the local people against copper factory over environmental pollution concerns.

Binani Cement lenders vote in favour of UltraTech's Rs 7,960 cr offer; override CoC decision favouring Dalmia Bharat

UltraTech now becomes the H1 bidder, replacing Rajputana Properties - the bidding company for the Dalmia Bharat-led consortium

Sterlite protests: Vedanta chairman Anil Agarwal says his Tamil Nadu firm is open to scrutiny by any independent committee

Vendanta Resources boss Anil Agarwal says there's absolutely no liquid discharge from Sterlite Copper's Thoothukudi smelter.

Economy to grow between 7.3-7.7% in 2018-19 riding on sustained structural reforms, recovery in global markets: CII

CCI credited the growth trend on prudent macroeconomic management which it said has encouraged "growth and investments for capacity expansion are being planned as demand conditions recover".

NBFCs take note: Investor psyche hasn't changed a lot over the years; preference for bank FDs is here to stay

In the case of FDs, bank-loyalty and tax benefits help SCBs score over NBFCs.

Sensex reclaims 35,000-mark, rises over 150 points in early trade; Nifty up by 53 points; Rupee surges

The 30-share index, which had gained 579.96 points in the previous two sessions, added 156.67 points, or 0.44 percent, at 35,081.54.

Patanjali sweetens bid for Ruchi Soya; revised offer around 30% higher than Adani group

Haridwar-based Patanjali group had emerged as the front runner with a bid of over Rs 4,000 crore to acquire Ruchi Soya.