ICICI Prudential Life Insurance on Thursday named ICICI Bank veteran Anup Bagchi as its MD & CEO with effect from June 19. Bagchi will take over as the chief executive of ICICI Prudential Life from N S Kannan, who will superannuate on June 18, 2023. “ The Board of Directors of ICICI Prudential Life Insurance [...]
Union Minister Rajeev Chandrasekhar on Thursday said deposits close to USD 1 billion attributable to Indian startups were with the US-based Silicon Valley Bank. The failure of Silicon Valley Bank (SVB), which was a key funding source for startups, has sent shockwaves across the global financial system. During a Twitter live session, Chandrasekhar said he [...]
The National Stock Exchange (NSE) and the BSE has announced that three Adani group companies -- Adani Enterprises, Adani Power and Adani Wilmar -- will move out of the short-term additional surveillance measure (ASM). The stocks will be excluded from the short-term ASM framework with effect from March 17, according to separate circulars available on [...]
Markets regulator Sebi on Thursday barred former Religare Finvest Ltd CEO Kavi Arora from the securities market for two years and imposed a fine of Rs 5 crore in connection with a case of fund diversion. The case relates to the diversion of funds to the tune of Rs 2,473.66 crore of Religare Finvest Ltd [...]
The domestic equity market opened on a strong note on Friday, with benchmark Sensex jumping more than 350 points tracking positive global cues and ebbing concerns over the fallout of the banking sector woes in the US and Europe. The 30-share BSE Sensex surged 352.26 points or 0.61 per cent to 57,987.10 points while the [...]
Fair trade regulator CCI on Thursday alleged that Google has created a digital data hegemony and called for a market space with "free, fair and open competition". Concluding the arguments of the Competition Commission of India (CCI) before the appellate tribunal NCLAT in the Google matter, Additional Solicitor General N Venkataraman said a market with [...]
Navratna-status National Aluminium Company (NALCO) Ltd. is one of the low-cost bauxite and alumina producers globally. Along with this, it is also a prominent alumina exporter in India. Incorporated in 1981, it is a government company under the Ministry of Mines, Government of India. It has a market capitalization of Rs 15,000 crore. The alumina [...]
Corporate travel is expected to rebound with as many as 77 per cent of Indian businesses expecting a rise in their travel budget in 2023 as compared to 2022, said a survey commissioned by American Express. In terms of the practical methods used to pay for travel expenses, the most common way, used by two-thirds [...]
Loan disbursals by microfinance companies increased 19 per cent to Rs 77,877 crore during December quarter 2022-23, said the MFIN Micrometer. The total microfinance loan portfolio increased to Rs 3.21 lakh crore as on December 31, 2022, the report said. "Microfinance loan disbursals during Q3 FY 22-23 improved to Rs 77,877 crore as compared to [...]
Eris Lifesciences on Thursday said it has acquired nine dermatology brands from Dr Reddy's Laboratories for Rs 275 crore. The acquired brands are largely in cosmetology segments like anti-acne, moisturisers, cleansers, anti-ageing, hair health, melasma etc, it said in a statement. Post this deal, Eris will rank third in the dermatology market with a market [...]
