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Category Archives: Business

Business

IMF Chief praises demonetization and GST; says India’s economy on solid track

While opposition parties including Congress have been targeting the central government over the economy, the IMF Chief has lauded India’s efforts such as demonetization and GST. This should come as a wakeup call for people like Yashwant Sinha who had recently gone bonkers with their criticism of government’s economic policies. All the talk was about the GDP growth reducing to ... Read More »

IndusInd Bank announces $2.4 billion deal to acquire BFI

In a major acquisition deal in the financial sector, India’s leading bank IndusInd Bank has announced the acquisition of Bharat Financial Inclusion (BFI). The company is a micro lender and after its acquisition, it would enable IndusInd Bank to strengthen its presence in microfinance lending and rural banking. The acquisition deal is an all-share deal, which means that there will ... Read More »

Idea shareholders approve merger with Vodafone; Reliance registers 12.5% profit growth

Coming at the heels of the acquisition of Tata Teleservices by Bharti Airtel, the proposed merger of Idea Cellular with Vodafone India has been approved today by the shareholders of Idea Cellular. This paves the way to form yet another giant in the telecom sector in India. The deal was approved by more than 99 percent of the shareholders of ... Read More »

Mega Merger: Bharti Airtel to acquire Tata Tele

Just as Tata Group was planning to shut down its telecom arm, it has come as a huge relief for the Group as India’s largest telecom operator Bharti Airtel has agreed to acquire the mobile business of Tata Teleservices. The news also comes as a huge relief for the 5000 plus employees of Tata Tele, who were staring at a ... Read More »

Direct tax collections grow 16 percent in April-September

In a welcome development for the government, the country’s direct tax collections have witnessed a major growth of 15.8 percent. For the period between April and September 2017, the direct tax collections have grown to Rs 3.86 lakh crore. One of the major reasons for this huge jump is the significant growth in the collections of advance tax. The information ... Read More »

Tata Group may bid to bring back its bird Air India home again

Not many know that it was the Tata Group that had founded Air India around 85 years back. However, in the year 1946, the company was nationalized and it came under government control. Nevertheless, it is like life coming full circle for the Tata Group, as the government has decided to sell Air India. The airline has been witnessing consistent ... Read More »

Tata Teleservices may shut shop; over 5000 jobs at risk

After N Chandrasekaran, Chairman of Tata Sons indicated that the Tata Group will be looking at consolidation and pruning its business portfolio, there have been reports that say that the telecom arm of Tata Group may be closed down permanently. Tata Teleservices has been experiencing consistent losses, which is why it has become difficult to sustain the company any longer. ... Read More »

Rajnish Kumar to take charge of SBI; to replace Arundhati Bhattacharya

To head the country’s largest bank, Rajnish Kumar has been appointed as the new chairman of State Bank of India (SBI). Rajnish will be replacing the current chairman Arundhati Bhattacharya, whose term will be ending this week. Rajnish is currently the managing director of SBI and he will be taking charge as the chairman on October 7. It’s been quite ... Read More »

IPO of General Insurance Corporation of India opens on October 11, 2017 (Price Band of ₹ 855 to ₹ 912)

General Insurance Corporation of India’s initial public offering to open on October 11, 2017, with a Price Band of ₹ 855 to ₹ 912 per Equity Share, each of Face Value of  ₹ 5 each   The IPO consists of: A fresh issue of 17,200,000 equity shares; Offer for sale of up to 107,500,000 equity shares by the Selling Shareholder, ... Read More »

RBI maintains status quo, keeps key policy rate unchanged

Following are the highlights of the fourth bi-monthly Monetary Policy Statement 2017-18, issued by Reserve Bank of India:    * Key policy rate kept unchanged at 6 per cent.  * Reverse repo rate unchanged at 5.75 pc.  * Cuts economic growth forecast to 6.7% from 7.3% for FY’18  * Projects inflation at 4.2-4.6 pc in the second half.  * GST ... Read More »

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