The Economic Times
41 minutes
The Economic Times
an hour
NEW DELHI: The country's largest lender State Bank of India (SBI) today said it will increase its stake in SBI Card to 74 per cent by June end. "Stake will be increased by first quarter of next financial year...there are few regulatory issue that is being sorted out," SBI chairperson Arundhati Bhattacharya said at the launch of SBI Card Unnati here. The board of SBI has already given approval for hike of the bank's stake in its two credit card joint ventures with General Electric Company to 74 per cent. The bank has approval to infuse Rs 1,160 crore in the two JVs -- SBI Cards and Payment Services Pvt Ltd (SBICPSL) and GE Capital Business Processes Management Services Ltd (GECBPMSL)-- through purchase of equity shares from GE Capital so as to increase the bank's stake in both the companies to 74 per cent. Asked about remaining 26 per cent stake, she said, the decision has to be taken by GE.
Daily Mail - USA
an hour
More than 300 Indian residents charged at the group of African students in a shopping mall rampage in Greater Noida, New Delhi, after a vigil for the teenager.
Daily Mail - USA
an hour
More than 300 Indian residents charged at the group of African students in a shopping mall rampage in Greater Noida, New Delhi, after a vigil for the teenager.
The Economic Times
2 hours
NEW DELHI: With just three days left for Jio free offers and its Prime membership offer to end, the Prime offer has got a lukewarm response and it might force the company to extend the deadline.According to an ET Now report, out of total 122 million Jio customers, only 16 million customers have opted for the Prime membership, in which a customer can continue to enjoy the benefits with a payment of Rs 99 as membership fee before March 31.Also read: Jio Prime offer ends after 3 days: These are the cheap plans you can opt for According to the report, Jio has added more than 20 million new customers in the last 4 weeks, but only 16 million have opted for the Prime offer till now.Meanwhile, replying to the report, Jio has said that the numbers mentioned are way off the mark.Reliance had launched Jio Prime offer to start the transition from free service to paid with a nominal fee.
MintPress News
2 hours
Dick Cheney talks with daughter, Elizabeth, after arriving at the convention center on the first day of the Republican National Convention in Philadelphia on Monday, July 31, 2000. (AP/Elise Amendola) Former US Vice President and the man whose image appears in the dictionary by the word neocon, Dick Cheney criticized Russia's alleged interference in the U.S. presidential election, saying it could be considered an “act of war” against the U.S. There’s no question there was a very serious effort made by Mr. Putin and his government, his organization, to interfere in major ways with our basic fundamental democratic processes,” Cheney said Monday during a speech at the Economic TimesGlobal Business Summit 2017 in New Delhi, even though not only are there questions, the US still has to present any proof this actually happened.
The Economic Times
3 hours
NEW DELHI: The Indian Railway today extended Ratlam-Ajmer Express up to Indore, fulfilling a long standing demand of the people of the area. The daily train service will stop at Baragar, Fatehavad, Chandrawatigunj, Laxmi Bai Nagar stations in both direction. "It is evident that people want Railway connectivity in their areas. Today, on the occasion of Hindu New Year and Gudi Padwa, it is a favourable beginning for the people of Indore and Madhya Pradesh," Railway Minister Suresh Prabhu said here after flagging off the train here through video conferencing. Lok Sabha Speaker Sumitra Mahajan, along with the other representatives of the area and senior Railway Ministry officials, was present on the occasion. Describing Madhya Pradesh as an important state, he said the allocation for the state from railways have increased manifold in the last two years.
The Economic Times
3 hours
The Economic Times
3 hours
The Economic Times
3 hours
While Esaf MFI, which also functions as multi-state cooperative agri society, owns 64 per cent in the bank. Thomas own 5 per cent personally in the venture. Sidbi Venture owns 12 per cent, an Australian fund owns 19 per cent.Thomas also said he is planning to divest stake in the bank by the end of fiscal 2018 and an IPO by 2020.Esaf Small Finance Bank is among the first five out of the 10 licencees which got permission from RBI in August 2015.Its urban plan includes entering Bengaluru, Kolkata, Mumbai, New Delhi and Hyderabad in the first year. Esaf MFI has 285 branches in 93 districts spread over 11 states all of which be converted into bank branches.
Sputnik International
4 hours
The Economic Times
4 hours
MUMBAI: Buoyant economy, regulatory reforms has made India the most preferred market for outsourcing business among more than 75 per cent multinational companies, says a survey. However, higher costs and economic uncertainty following the introduction of demonetisation at the end of last year as well as the impact of the new US administration were found to be concerns with the MNCs, according to the survey carried out by leading real estate consulting firm CBRE. "More than 75 per cent of the multinationals consider India as preferred market for outsourcing," the survey said. The analysis largely focuses on the responses received from the 50 multinational respondents. As per the findings, Bengaluru, Mumbai and Delhi NCR have emerged as the most preferred destinations for expansion by the companies. "Corporates displayed strong intentions to expand in tier 1 cities with the technology and outsourcing hub of Bengaluru receiving the strongest interest," CBRE said.
The Economic Times
5 hours
The Economic Times
5 hours
NEW DELHI: The government today said banks can impose penal charges for not keeping minimum balance in accounts but the levy should be "reasonable" and not out of line with the average cost of providing these services. As per the RBI guidelines, banks should inform at least one month in advance existing account holders about any change in the prescribed minimum balance and charges that may be levied, Minister of State for Finance Santosh Kumar Gangwar said in a written reply in the Rajya Sabha. Several banks impose charges for non-maintenance of minimum balance and also on cash deposits and withdrawals beyond a specified threshold and number of transactions during a month. With regard to minimum balance, Gangwar said banks can levy penal charges on the amount of difference between the actual balance maintained and minimum balance as agreed upon at the time of opening of account.
The Economic Times
5 hours
NEW DELHI: Here's your chance to buy an Apple iPhone for as low as Rs 2,000. Flipkart, the popular e-commerce website, is giving an exchange discount of up to Rs 16,000 on iPhone 5s available for Rs 17,999. This essentially brings the price to Rs 1,999. The offer is available on both Space Gray and Silver models with 16GB inbuilt storage. Incidentally, Apple has just rolled out the latest version of iOS, iOS 10.3, which comes to iPhone 5S too. In fact, it will be available on the company's one previous-generation smartphone, iPhone 5, as well. This also means that iPhone 5S will be getting latest version of Apple's OS for at least one more year. In addition, the Apple iPhone 6 (Space Gray, 16GB) model is listed at Rs 26,490 (after a flat discount of Rs 10,500) on the website. Flipkart is also offering an exchange discount of Rs 16,000 on the smartphone.
The Economic Times
6 hours
NEW DELHI: Toyota Kirloskar Motor today urged the government to put in place a framework to phase out old BS I and BS II vehicles, amidst ambiguity over enforcement of BS IV emission norms across the country. Expressing concerns over increasing pollution levels, the company supported the government's move to phase out BS III vehicles saying it was a step in the right direction. Currently, the Supreme Court is hearing pleas of automobile firms which have sought permission for disposing of around 8.2 lakh BS-III vehicles which are being held in stock. The companies have approached the apex court to dispose of their stock as the BS-IV emission norms are to come into force from April 1 this year. "We would urge the government also to put in place an enabling framework to phase out BS I and BS II vehicles," Toyota Kirloskar Motor said in a statement.
The Economic Times
7 hours
NEW DELHI: FMCG major Britannia Industries today said it has entered into a joint venture with Greek firm Chipita SA for producing and selling ready-to-eat croissants in India. The estimated investment in the joint venture company -- Britchip Foods Ltd -- in Phase I is Rs 100 crore. "The company has signed a joint venture agreement with Chipita SA, a Greek company for the purpose of developing, producing and selling ready-to-eat croissants and any other product as may be agreed between the parties through a joint venture company, Britchip Foods Ltd," the FMCG major said in a BSE filing. As per the agreement, Britannia Industries will hold 60 per cent of total share capital of the joint venture company, while Chipita SA would hold the rest. Both the parties will have the right to appoint the Directors in their agreed equity proportion. The board of the JV will have a minimum of five and maximum of ten members, the filing said.
The Economic Times
7 hours
The Economic Times
7 hours
NEW DELHI: Air India is projected to post an operating profit of Rs 300 crore in the current fiscal and there is no plan to privatise the airline, the government said today. "The operating losses of the company have been steadily coming down over the past few years and the same have converted into operating profits," Minister of State for Civil Aviation Jayant Sinha told the Rajya Sabha. In a written reply, he also said the carrier's net losses are also reducing gradually on account of the overall improvements in the "operational and financial performance". As per provisional figures for 2016-17, the airline is projected to see an operating profit of Rs 300 crore and net loss after tax of Rs 3,643 crore. Last fiscal, Air India had an operating profit of Rs 105 crore and a net loss after tax of Rs 3,836.77 crore. On whether there is any proposal to either disinvest or privatise Air India, the minister replied in the negative.
The Economic Times
8 hours
NEW DELHI: Hinduja flagship firm Ashok Leyland will invest Rs 400 crore to develop new light commercial vehicles (LCVs) within the next two years and plans to triple its sales in the segment by 2019-20. The company, which had last year parted ways with Nissan after a tumultuous relationship, is now looking to make up for the lost time, eyeing export markets with new models to be developed on two new platforms. In order to accelerate product development, the company is also re-hiring a number of employees who had left the erstwhile joint ventures with Nissan. "For the medium term between 12 months to two years, we have allocated fresh fund of Rs 400 crore on product development for LCVs," Ashok Leyland President (LCV & Defence) Nitin Seth told PTI. "We will have two new platforms on which we can develop several models -- from right hand drive to the left hand drives with different powertrains, as we will be targeting not only the domestic market but overseas as well," he said.
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