Indian Bank is a mid-sized bank that was started in 1907. It is involved in the business of offering deposits, loans and other associated services. There are various segments in the Bank and some of them include the Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. Corporate loans account for about 44% of the [...]
Power Finance Corporation has inked a pact with Japan Bank for International Cooperation (JBIC) for a project loan of JPY 2.65 billion or about Rs 165 crore. Under this facility, JBIC has proposed to finance some of PFC's projects which ensure effective reduction of greenhouse gas emissions and conservation of the global environment. This pact [...]
Gautam Adani's fortunes have suffered a severe setback on concerns over corporate governance and accounting fraud, leading to Reliance Industries' Mukesh Ambani replacing the Ahmedabad-based industrialist as the richest Indian. Adani lost Rs 3,000 crore of wealth every week over the last year and his overall networth is down 60 per cent from its peak, [...]
Sizeable equity commitments in under-construction projects and rising working capital needs will increase the debt burden of road developers but revenue growth is set to remain high, driven by strong contract awards and execution in the next fiscal, according to a report. Besides, a high budgetary allocation to the sector will also help road developers, [...]
Chemicals maker Anupam Rasayan India Ltd on Wednesday signed a memorandum of agreement with the Gujarat government for setting up three new plants in Surat and Bharuch with an investment of Rs 670 crore. The company aims to commission these plants before 2025. "The investment of Rs 670 crore is in line with the strategic [...]
For getting tubewell connection, preference will be given to the farmers adopting micro-irrigation techniques, Haryana Chief Minister Manohar Lal Khattar said on Wednesday. He said that to ensure optimum utilisation of available water, the government has decided to give preference to farmers adopting micro-irrigation while issuing tubewell connections. He, however, said that it is not [...]
Adani Airports on Wednesday said there is no rethink on the pace of expansion and it was following the investments as per plans submitted to the government, amid the parent group facing certain challenges in recent times. The comments from company's CEO Arun Bansal come against the backdrop of Adani Group facing challenges in the [...]
India's top oil company IOC will invest Rs 61,077 crore in building a petrochemical complex at Paradip in Odisha - its largest ever investment at a single location - as it doubles down on its transition plan. In a statement, Indian Oil Corporation (IOC) said its board has given "Stage-1 approval for setting up Paradip [...]
Axis Mutual Fund, the seventh largest fund house, is looking to raise at least Rs 50 crore from a new fund offer during the primary subscription period of March 22-April 5. The open-ended S&P 500 ETF fund of funds will invest in exchange-traded funds replicating the S&P 500 index. Vinayak Jayanath will be managing the [...]
Mahindra & Mahindra Ltd (M&M) is in advanced talks with global investors to raise money in the range of $1 - 1.3 billion by way of selling shares in its electric vehicles (EV) unit. This move is mainly aimed to accelerate the expansion plans of its subsidiary “EV Co”. Apart from the talks going on, [...]
Indian dye company Kiri Industries has expressed full confidence in the Singapore International Commercial Court's (SICC) decision and hopes its China-linked partner would honour the "final outcome" of an 8-year old dispute. Kiri, a minority shareholder in Dystar, initiated a legal battle in 2015 against Senda, a subsidiary of China's largest dye firm Longsheng and [...]
Hero MotoCorp on Wednesday said it will increase prices of its model range by around 2 per cent from next month in order to offset the impact of rise in production cost in order to conform to stricter emission norms. The company will make an upward revision in the ex-showroom prices of its select motorcycles [...]
Prime Minister Narendra Modi on Wednesday unveiled the 6G vision document of the country and said initiatives around 6G within six months of the 5G rollout show India's confidence. He said from being a mere consumer of telecom technology, India is now moving fast to become a big exporter of that technology. "Within six months [...]
Shipping Corporation of India’s shares were in the green on Wednesday after the company announced the record date for its demerger. At 03:15 PM, the company’s shares were trading at 138.40 apiece. In an exchange filing, the company said that it has fixed March 31, 2023, as the record date for ascertaining the list of [...]
Everything runs on the internet today. The 4G cellular technology introduced the concept of mobile broadband and now the 5G technology has perfected it! Therefore, in this era of the internet, it’s significant that you have access to high-speed and stable internet, round the clock. However, sometimes, your prepaid mobile data might just give up [...]
Equity benchmark Sensex and Nifty ended on a positive note on Wednesday, mainly due to buying in healthcare, financial and commodity stocks amid a firm trend in global equities. Continuing its previous day's rally, the 30-share BSE Sensex advanced 139.91 points or 0.24 per cent to settle at 58,214.59. During the day, it jumped 344.1 [...]
Auto components major Bosch Ltd on Wednesday announced leadership changes with Guruprasad Mudlapur appointed as its Managing Director, and President of the Bosch Group in India with effect from July 1, 2023. He will succeed Soumitra Bhattacharya who will be retiring from Bosch India effective June 30, 2023, after 28 years of service in various [...]
Private lender Bandhan Bank on Wednesday announced the appointment of Ratan Kumar Kesh as its executive director. The bank said in a statement that pursuant to the recommendation of the board, RBI has granted approval of Kesh as ED. The appointment will be effective from March 31, 2023, for a period of three years subject [...]
Industry body PHDCCI has approached the government seeking reintroduction of the Credit Linked Capital Subsidy Scheme to facilitate technology upgradation of micro and small enterprises. The scheme provided an upfront capital subsidy of 15 per cent subject to a maximum amount of Rs 15 lakh on institutional finance availed by the enterprises for induction of [...]
Battery-as-a-Service (BaaS) startup VoltUp on Wednesday said it has partnered with BSNL for setting up electric vehicles battery swapping stations in the country. Initially, under the partnership battery swapping stations will be set up in four locations across Gurugram, enabling an infrastructure of over 150 charging docks, the company said in a statement. It will [...]
