C S Setty, the new Chairman of SBI, outlined his vision to enhance the bank’s net profit and establish it as India's 'Best Bank'. With a vast customer base and significant market capitalisation, Setty thanked his predecessors and vowed to build on their achievements. He highlighted the critical role of SBI in India’s evolving economy.
In a circular issued by the ministry on Wednesday, lack of competition shall not be determined solely on the basis of the number of bidders. Even when only one bid is submitted, the process should be considered valid, provided the procurement was satisfactorily advertised and sufficient time was given for submission of bids, the qualification criteria were not restrictive and prices are reasonable in comparison to market value, it said.
West Bengal faces continued protests over a Kolkata doctor’s rape and murder, while Kerala experiences its own #MeToo wave in the Malayalam film industry. Recent resignations of high-profile figures including AMMA's executive council have sparked public outrage, especially directed at actor Mohanlal's dismissive comments on the movement from a 2019 interview.
Durov was detained on Saturday at Le Bourget airport outside Paris as part of a judicial inquiry opened last month involving 12 alleged criminal violations.
The Bombay High Court has granted bail to Pune builder Avinash Bhosale in a money-laundering case, observing he may not be guilty. Arrested by the ED in 2022 and previously by the CBI, Bhosale received bail on a personal bond. The case involves alleged kickbacks and transactions related to Yes Bank and DHFL.
The market value of Berkshire Hathaway surpassed $1 trillion on Wednesday, reflecting investor confidence in the conglomerate that Warren Buffett built over nearly six decades into what many consider a proxy for the American economy.
Reliance Retail awarded ESOPs to director V Subramaniam, chief executive for grocery retail Damodar Mall, president and chief executive of fashion and lifestyle business Akhilesh Prasad, president and chief business officer of electronics retail Kaushal Nevrekar, group chief business operations Ashwin Khasgiwala and chief executive of fashion ecommerce platform Ajio Vineeth Nair.
The floor price for the issue is set at Rs 1,660.2 per share, a 4.4% discount to Wednesday's closing price. Tencent, which held a 4.6% stake in the Policybazaar parent company as of June 30, 2024, is reportedly selling its stake.
The Ministry of Ports, Shipping and Waterways has approved a new wage structure for workers at major ports, stopping an indefinite strike. The agreement includes an 8.5% fitment benefit and additional allowances. The periodicity of the settlement is from January 1, 2022, to December 31, 2026, with a review set for 2027.
State Bank of India has raised Rs 7,500 crore through Basel III compliant tier 2 bonds at a 7.42% annual rate. This 15-year bond has a call option after 10 years.
Union Home Secretary Govind Mohan emphasised the need for effective policing and modern law enforcement to bolster India's economic growth. He praised the Bureau of Police Research and Development for its role in modernising the police force and mentioned the importance of new criminal laws that replaced colonial-era regulations. The event also honored recipients of the President's Medal for their service.
India is set to develop 12 new Industrial Smart Cities under the National Industrial Corridor Development Programme with an investment of Rs 28,602 crore. The initiative aims to create up to 1 million direct jobs and 3 million indirect jobs, promoting balanced regional development and advanced infrastructure across multiple states.
NITI Aayog has suggested higher import duties on edible oils, a substantial duty gap between crude and refined oils, and incentives for farmers to boost India's self-sufficiency in edible oil production. The report outlines strategies such as a cluster-based seed hub approach, bio-fortified seed varieties, and new technologies to increase domestic oilseed production.
The investigative judge will now rule on whether to place the Russian-born billionaire under formal investigation following his arrest as part of a probe into organised crime on the messaging app. The decision is expected later on Wednesday.
Wall Street's main indexes were flat at the open on Wednesday ahead of Nvidia's earnings report, with focus squarely on whether the recent bull market rally led by the AI chip firm and other tech-related shares can be sustained.
Despite remaining tensions, Prince Harry and Meghan Markle are allegedly eager to make peace with the royal family. King Charles is willing to heal fences, but some family members are still wary of any further revelations. Curiosity was aroused by Harry's recent decisions.
Congress leader Priyanka Gandhi Vadra criticised the Uttar Pradesh government after the bodies of two Dalit teenage girls were found hanging from a tree in Fatehgarh. The girls reportedly went missing after visiting a temple on Janmashtami. Vadra questioned the administration's haste in cremating the bodies. She raised the issue of lack of justice for Dalits, poor, and women.
Rakesh Gangwal, co-founder of InterGlobe Aviation, plans to sell up to $804 million in shares via a block deal, with a floor price of Rs 4,593 each, a 5.5% discount to the current market price. This move follows his previous stake reduction and Shobha Gangwal’s exit.
The Union Cabinet has approved the establishment of 12 new industrial cities across ten states, with an investment of Rs 28,602 crore. This initiative aims to boost domestic manufacturing and job creation, positioning India as a global manufacturing hub.
Formerly known as monkeypox, the Mpox virus is evolving and spreading faster than expected, particularly in Africa.
During the Global Fintech Festival (GFF) 2024 in Mumbai, RBI Governor Shaktikanta Das highlighted India's rapid economic growth, driven by a burgeoning fintech ecosystem and a tech-savvy population. He outlined five key priorities: financial inclusion, enhancing Digital Public Infrastructure (DPI), strengthening cybersecurity, promoting long-term sustainable finance, and reinforcing financial infrastructure. Das underscored the pivotal role of fintech companies in bridging financial gaps and emphasized the need for a secure... Читать дальше...
Tata Steel on Wednesday said it has acquired about 178 crore additional equity shares of T Steel Holdings Pte Ltd for USD 280 million, taking the total fund infusion into its Singapore-based arm to USD 1,337 million.
The high court was hearing a clutch of public interest litigation (PIL) pleas seeking directions to authorities to declare the Jama Masjid a protected monument and remove all encroachments in and around it. It was also dealing with an application, filed on March 16, 2018 by one of the petitioners, Suhail Ahmed Khan, seeking production of the file of the Ministry of Culture relating to the Jama Masjid.
More than 4,000 children under the age of five have died at Chacha Nehru Bal Chikitsalaya in Delhi from 2019 to mid-2023, primarily due to illnesses such as sepsis and pneumonia, according to RTI data. The highest number of deaths occurred in 2019, while 2022 had the lowest. Hospital authorities did not respond to multiple inquiries.
Mumbai's first double-decker flyover connecting Metro Line 9 has been inaugurated by Chief Minister Eknath Shinde. The one-km flyover in Mira Bhayandar aims to ease traffic and reduce travel time. This modern infrastructure includes separate levels for metro and road transport, promising better traffic flow and commuter comfort.