COVID-19 impact: IDFC First Bank senior management takes 10% compensation cut in FY21; pays 100% variable pay to 78% staff
IDFC First Bank paid 100 percent of the variable pay to 78.2 percent of employees for FY20.
Private sector lender Kotak Mahindra Bank has decided on a 10 percent pay cut for the employees earning above Rs 25 lakh per annum, in a business sustainability move amid the COVID-19 pandemic, according to a communication
Billionaire banker Uday Kotak has decided to take a notional salary of only Re 1 for the financial year 2020-21, amid COVID-19 pandemic, which is likely to have huge economic implications
Hinduja Group keen to raise stake in IndusInd Bank to 26%, seeks RBI permission; shares down over 9%
IndusInd Bank shares touched a high of Rs 707.45 in the morning session, but later pared gains to trade at Rs 668.80, up 0.7 percent from their previous close, at 11:42 am on NSE.
Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions
Recent days have seen RBI governor Shaktikanta Das pulling up public sector banks for poor credit growth even as Kapoor's Yes Bank shenanigans were simmering in the backdrop.
Private sector Kotak Mahindra Bank on Wednesday said the Reserve Bank has granted its final approval for reducing promoters' stake in the bank to 26 percent
Two of India's top bankers on Tuesday opined that Kotak Mahindra Bank (KMB) is best suited to acquire smaller and capital-starved rival Yes Bank
Mukesh Ambani polevaults to 12th position as world's richest Indian with net worth of $59.4 bn after m-cap nears Rs 10 lakh cr
With Reliance Industries having overtaken British energy giant BP Plc to become the sixth-largest energy company in the world, the conglomerate is now valued at $138 billion
Tata Sons chairman N Chandrasekaran bats for privatisation of power discoms; says system bleeds, all deadlocks should be cleared
His comments come a day after a media report said that half of the thermal power plants in the country the largest source of power are shutting down.
Forbes India Rich List: Mukesh Ambani retains top spot for 12th consecutive year, Gautam Adani jumps to second place
Mukesh Ambani remains India’s richest for the 12th consecutive year, with $51.4 billion in wealth
IL&FS crisis: Uday Kotak gets one-year extension on bankrupt infra lender's board, exemption given on RBI recommendation
Kotak was appointed by the government as the head of the lender's board which will help the troubled company come out of difficulties after the state took over the board.
Industry, stock market experts term Sitharaman's corporate tax cut 'revolutionary', say will make Indian firms globally competitive
In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17 percent inclusive of all cess and surcharges for domestic companies.
CII to support investment activities in Jammu and Kashmir, says Uday Kotak after meeting Nirmala Sitharaman
Industry body CII on Friday assured Finance Minister Nirmala Sitharaman that the industry body will support investment activities in Jammu and Kashmir
Infrastructure Leasing & Financial Services (IL&FS), which has an outstanding debt of Rs 94,216 crore, said on Wednesday the board has taken various steps to address over Rs 20,000 crore of its debt pile over the past nine months
Bernard Arnault replaces Bill Gates as world's second-richest person with $39 billion gains in a year; Jeff Bezos retains top slot
Bernard Arnault added $39 billion to his fortune in 2019, which pushed his net worth to $107.6 billion, as he led Gates by more than $200 million.
HDFC Bank refused loans to Vijay Mallya; need to separate friendships from banking, cautions MD, CEO Aditya Puri
Aditya Puri cited how his bank turned down a loan request from the now-fugitive businessman Vijay Mallya
Godrej family dispute: Group promoters seek external partners' advice to think through option of future strategy
Godrej group promoters Thursday said they have sought advice from external partners to help them plan future strategy, amid reports of a rift between family patriarchs over long-term planning and utilisation of a prime land parcel in Mumbai
Godrej family spat: Heirs reach out to mediators to rework pact over 1,000-acre landholding in Mumbai
The bone of contention is a 1,000 acre plot in Vikhroli, a distant suburb of Mumbai, concentrated with Godrej & Boyce
ICRA downgrades ratings, outlook on Yes Bank citing spike in lower-rated advances, falling core capital buffers
Yes Bank had reported its maiden loss of over Rs 1,506 crore in the March quarter, driven by a near ten-fold spike in provisions.
Uday Kotak warns of more liquidity squeeze in next two quarters muddying waters for financial sector again
The next six months are crucial for the financial sector, Uday Kotak, the executive vice-chairman of Kotak Mahindra Bank said, adding the fear this time is the financial sector impacting both itself as well as the real sector.