Business news

Latest! Aadhaar made mandatory for PPF, post office deposits, Kisan Vikas Patra

In the notifications the government has mandated that existing depositors will be given time till December 31, 2017 to verify accounts with 12-digit unique verification number.

Oct 6, 2017

Telecom sector is the new IT industry? 100,000 jobs may face the axe

As per estimates, about 25,000 telecom employees have been affected by the slowdown in the past few months and thousands of others may soon be shown the doors.

Oct 6, 2017

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RCom in tight spot as tower operators cut services citing pending dues

Reliance Communications owes GTL and its unit CNIL about Rs 95 crore and Rs 20 crore to Rs 25 crore each to ATC and Bharti Infratel.

Oct 6, 2017

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Post-demonetisation: Govt receives 'vital info' on transactions of 2 lakh suspicious companies

The data provided by 13 banks reveals suspicious transactions carried out by 2,09,032 companies, which were blacklisted by the Registrar of Companies earlier this year.

Oct 6, 2017

SBI to prepare 3-year roadmap to address NPA; reviving credit growth top priority: Rajnish Kumar

SBI will soon prepare a roadmap for the next three years to tackle issues like asset quality, credit growth, digitisation and human resources management.

Oct 6, 2017

Sebi panel recommends separating chairman, MD roles at listed firms

The panel suggested a minimum remuneration of Rs 5 lakh per annum for independent directors and a sitting fee of Rs 20,000-50,000 for each board meeting.

Oct 5, 2017

Wipro acquires US design consultancy firm Cooper for Rs 56 crore

This acquisition is in line with the company's strategy, as Cooper will be integrated with Wipro's digital arm -- Designit.

Oct 5, 2017

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Shelled and shelved: More than 4.5 lakh directors may face disqualification

As the government is now putting in more effort to crackdown on shell companies, the profile of all disqualified directors will be thoroughly examined.

Oct 5, 2017

Incoming SBI chief says bad debt numbers "will look better"

Reviving credit growth and resolution of stressed assets will be top priority for SBI, Rajnish Kumar said.

Oct 5, 2017

Finance Minister Arun Jaitley to urge states to reduce VAT on petrol and diesel

Currently, states impose VAT ranging from 26-28 percent on petrol and diesel. The petroleum minister said that he asked states to reduce VAT by at least 5 percent on fuel to provide one more slab of relief to consumers.

Oct 5, 2017

Vijay Mallya laundered Rs 500 crore of Rs 900 crore IDBI loan, bought home in London with borrowed money

Mallya diverted the loan money to at least seven countries, including the US, the UK, France, Switzerland and Ireland. Read to know how the details came out.

Oct 5, 2017

Future Group to acquire Hypercity for Rs 700 crore

Kishore Biyani-led Future Retail has already acquired four major retail brands; Hypercity will become the fifth on Biyani's kitty.

Oct 5, 2017

Former Equifax chief apologises to Congress over hack

The former head of Equifax apologised repeatedly on 3 October at a congressional hearing for the theft of millions of people and amp;#39;s personal data in a hacking breach. Equifax said an independent review had increased the estimate of potentially affected U.S. consumers by 2.5 million to 145.5 million.

Oct 4, 2017

Rajnish Kumar to succeed Arundhati Bhattacharya as SBI chairman

The Banks Board Bureau had interviewed four SBI managing directors -- Rajnish Kumar, P K Gupta, B Sriram and Dinesh Kumar Khar -- for the top position.

Oct 4, 2017

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Health of India's corporate finances improves despite economic slowdown

ICRA's data showed a turnaround of sorts in corporate finances during the first half of the current fiscal year. Another rating agency Crisil also suggested a massive improvement.

Oct 4, 2017