Reserve Bank of India has approved re-appointment of Sanjay Agarwal as managing director and CEO of AU Small Finance Bank for a period of three years. The re-appointment is valid with effect from April 19 till April 18, 2026, AU Small Finance Bank said in a statement. Besides, it said, the regulator has also cleared [...]
HDFC Ltd on Wednesday said that the market regulator Sebi has cleared a proposal for change in control of HDFC Capital Advisors Limited (HCAL). Sebi vide its letter dated April 10, 2023 to HCAL, a subsidiary of HDFC Limited and a co-investment portfolio manager, has granted its approval for the proposed change in control of [...]
A special Mumbai court, while granting bail to Yes Bank co-promoter Rana Kapoor in a money laundering case, held that the alleged “laundered" amount never came to him” and there was nothing to show he received kickbacks. The Prevention of Money Laundering Act (PMLA) court also noted that even though economics offences are “different in [...]
Reliance Industries Ltd (RIL) has started the process to set up an infrastructure investment trust (InvIT), under which the group can monetise the backend warehousing and logistics assets of its retail business, said industry sources. Reliance Retail, the company which operates the retail business of the billionaire Mukesh Ambani-led Reliance Industries, has already registered a [...]
With the doubling of smartphone exports from India to over USD 11 billion, the country is on its way to become global leader in the mobile devices segment, Union minister Ashwini Vaishnaw said on Wednesday. Mobile phone exports from India reached close to USD 11.12 billion with iPhone maker Apple accounting for around half of [...]
Benchmark indices declined in initial trade on Thursday after eight days of rally amid weak trends in the US equity markets triggered by fresh concerns over recession. IT counters took a beating in the morning trade which resulted in weak trend in the benchmark indices. The 30-share BSE Sensex fell 164.66 points to 60,228.11 in [...]
Finance Minister Nirmala Sitharaman said on Wednesday that there is a need to augment present global efforts, including those of the G-20 to address growing debt distress across the globe, as she stressed on debt transparency and information-sharing on this issue. Sitharaman made the remarks at a Global Sovereign Debt Roundtable meeting which was also [...]
Four companies, including Larsen & Toubro, have submitted bids for design and construction of civil and building works of 135-km-long alignment between Shilphata and Zaroli under package C-3 of the Mumbai-Ahmedabad high speed rail line, the firm overseeing the bullet train project said on Wednesday. In a statement, National High Speed Railway Corporation Ltd (NHSRCL) [...]
The government is in the process of developing a portal for monitoring and expediting clearances for newly allocated coal blocks, Coal Secretary Amrit Lal Meena said on Wednesday. The secretary along with Additional Coal Secretary and Nominated Authority M Nagaraju held an interaction with the representatives of captive and commercial coal block allottees to discuss [...]
India's industrial production growth rose marginally to 5.6 per cent in February from 5.5 per cent in January 2023, mainly due to good performance of the power, mining and manufacturing sectors, according to official data released on Wednesday. There was an improvement on an annual as well as sequential basis. The factory output growth measured [...]
