New Delhi, Jul 21: Market regulator Sebi has expanded its probe into the role of five credit rating agencies after a forensic audit mandated by the new board of crisis-ridden IL&FS flagged serious lapses and their possible complicity with the former top brass of the group in giving top ratings despite weak financials. While […]
New Delhi, Jul 21: Homegrown auto majors Tata Motors and Mahindra & Mahindra are close rivals in the automotive market but when it comes to remuneration of their top honchos, the former is miles ahead of the latter. Tata Motors Managing Director and CEO Guenter Butschek’s total remuneration was at Rs 26.29 crore, an increase […]
New Delhi, Jul 21: Private insurance companies received a premium of around Rs 46 crore in the last two years from railway and its passengers while making a payout of only Rs seven crore in claims under the national transporter’s travel insurance scheme, an RTI has found. IRCTC, which is a wholly owned undertaking […]
Surat, Jul 21: Slowdown in Indian diamond industry has prompted world’s largest diamond mining company De Beers to lower its production forecast for 2019, with its mining output in second quarter falling 14%. According to US-based Rapaport Group, De Beers’ mining output fell 14% to 7.7 million carats in the second quarter as the company […]
New Delhi, Jul 21: As part of innovative modes of financing to meet India’s huge infrastructure appetite, insurance giant LIC has agreed to offer Rs 1.25 trillion line of credit by 2024, to fund highway projects, Union Minister Nitin Gadkari said. Keen on timely execution of the Rs 8.41 trillion ambitious Bharatmala project that aims […]
New Delhi, Jul 21: Foreign portfolio investors pulled out around Rs 7,712 crore from Indian equities in this month so far following the ‘super-rich’ tax announced in the budget for 2019-20, according to analysts. FPIs had been net investors in the equity segment in the previous five months. According to the latest data available with […]
Mumbai, Jul 21: Last week, Hindustan Unilever (HUL) said it was launching a liquid detergent, responding to retailer Future Group rolling out a similar product only a few weeks earlier in its stores. This is one of the most recent examples — not the first, and definitely not the last — of a fast-moving […]
New Delhi, Jul 21: Nearly 17 months after it began operations, Aditya Birla Idea Payments Bank Limited (ABIPBL) announced winding up of its business on account of “unanticipated developments” that made its economic model “unviable”. “…we wish to inform you that the Board of Directors of our associate company Aditya Birla Idea Payments Bank Limited […]
New Delhi, Jul 19: The government Friday asserted that subsidies for promotion of electric mobility in India will be only for commercial vehicles, and automobiles for personal usage will not be included. Speaking at an event here, Minister of State for Heavy Industries and Public Enterprises Arjun Ram Meghwal said the government expects India to […]
New Delhi, Jul 19: The government stuck to its stand on levying a surcharge on some foreign portfolio investors (FPIs), with FM Nirmala Sitharaman making it clear that this class of overseas investors had the option to restructure their operations to lower the tax burden. Replying to the debate on the finance bill in Lok […]