BBB recommends 22 GMs for elevation as executive directors at PSU banks

Monday, 18 Jun 2018 | PTI | New Delhi

Banks Board Bureau (BBB), the advisory body formed by the Government for selection of candidates for top level board appointment, has recommended 22 general managers to be elevated as executive directors at the various public sector banks. This is the first major exercise undertaken by the BBB, headed by newly appointed...

DoT may clear Voda-Idea merger today

Monday, 18 Jun 2018 | PTI | New Delhi

The telecom department is likely to approve on Monday the merger of Vodafone India and Idea Cellular that will create the country’s largest mobile service operator with proposed name of Vodafone Idea Ltd. “DoT is expected to clear the Vodafone-Idea merger on Monday. The certificate will be handed to them,” an...

‘New India 2022’ to be ready in a month, says NITI Aayog

Monday, 18 Jun 2018 | PTI | New Delhi

NITI Aayog said on Sunday that development agenda for ‘New India 2022’ would be finalised in a month or so after seeking comments from states. The Government think tank has been working on the strategy document for a while. “Developed agenda for New India 2022 is still being revised. It was not...

Dues of PNB’s big wilful defaulters rise to Rs 15,490 cr

Monday, 18 Jun 2018 | PTI | New Delhi

Wilful defaulters borrowing Rs 25 lakh and above owed more than Rs 15,490 crore to PNB as of May end, up 2 per cent from the preceding month. The data from the state-owned Punjab National Bank covers the big wilful defaulters who are not paying back their loans despite having the...

US pips India as top greenfield FDI investment destination: Report

Monday, 18 Jun 2018 | PTI | New Delhi

The US has surpassed India to become the top destination for greenfield FDI investment in 2017, says a report. The number of greenfield FDI projects in India during the year fell sharply by 21 per cent to 637, said the fDi Report 2018 compiled by FDI Intelligence, a division of The...

Hope to recover Rs 2,000 cr from NPA resolution in FY ’19: IFCI

Monday, 18 Jun 2018 | PTI | New Delhi

Saddled with bad loans, the country’s oldest financial institution IFCI expects to recover about Rs 2,000 crore from the resolution of non-performing assets (NPAs) during the current fiscal. The state-owned term lender has also lined up some of its non-core fixed assets including commercial real estate for sale in 2018-19 provided...

Business Corner

Monday, 18 Jun 2018 | PNS

IBM LAB opens at SRM UNIVERSITY Haryana Christine Raetzsch, Vice President, CTO, IBM Asia-Pacific inaugurated the IBM Software Lab and launched the B.Tech-Computer Science Engineering with specialisation in Data Science and Artificial Intelligence at SRM University Haryana, Sonepat on Friday, where students, faculty and scholars participated with great zeal...

NPA write-offs by PSBs surge 140% over their losses in FY’18

Saturday, 16 Jun 2018 | PTI | New Delhi

Public sector banks have written off bad loans worth a whopping Rs 1.20 lakh crore, an amount that is nearly one-and-a-half times more than their total losses posted in 2017-18, according to official data. This is a double whammy for the struggling PSBs as they had massive write-offs as well as...

Union backs Patel, says RBI must act as alert inspector, not just an off-site surveyor

Saturday, 16 Jun 2018 | PTI | Mumbai

The employees union of the Reserve Bank has, in a surprise move, backed governor Urjit Patel’s for his stern action to stem the bad loan problem and other ills plaguing the public sector banks, and urged him, in a letter, to continue to actively monitor banks as an ‘alert inspector’...

Markets end flat as trade tensions return; TCS gains on buyback boost

Saturday, 16 Jun 2018 | PTI | Mumbai

The BSE Sensex ended with modest gains on Friday, helped by a late burst of buying in technology and pharma stocks, even as global sentiment took a hit after the US slapped fresh tariffs on Chinese imports. Index heavyweight TCS spurted 2.75 per cent after the company’s board approved a Rs...


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‘Assault’ on police driver: Action against Kerala ADGP

17 Jun 2018 | VR Jayaraj | Kochi

In a swift move intended at stemming the protests brewing in the State police force against certain top officials’ ‘feudalistic’ practice of persecuting policemen and camp followers by using them as house servants, the Kerala Government on Saturday removed ADGP Sudesh Kumar, whose daughter was the other day booked for assaulting and verbally abusing his official police driver, from the position of head of the Armed Police Battalion. The action against...

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23 Jun 2018 | PNS | Kochi

MCD still waiting for HC order on encroachment Dehradun: Days after the High Court ordered the officials to remove encroachment from different areas of Dehradun like markets, streets and footpaths in four weeks, the officials concerned said on Friday that they were still waiting for the order to come. They, however, assured that they would execute the order once they get a copy and read it thoroughly...

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