Sunday Edition

IDFC Bank, Capital First in an all-stock deal JV

Sunday, 14 Jan 2018 | PTI | Mumbai | in Sunday Pioneer

One of the youngest private lenders IDFC Bank and Warburg Pincus-backed non-banking financial company Capital First on Saturday announced a merger in an all-stock deal, creating a Rs 88,000-crore combined entity. The boards of both companies, which met here on Saturday, fixed the share swap ratio at 139:10, which means IDFC...

Need $300 bn invt to double refinery capacity: Pradhan

Sunday, 14 Jan 2018 | PTI | BHUBANESWAR | in Sunday Pioneer

India needs investment to the tune of $300 billion in the next 10 years to double its oil refining capacity, Union Petroleum Minister Dharmendra Pradhan said on Saturday. “Oil refining capacity in the country stands at over 247 million ton at present and demand for petro products, which is rising rapidly,...

Jaitley holds review meeting with lenders on stressed power projs

Sunday, 14 Jan 2018 | PNS | New Delhi | in Sunday Pioneer

Finance Minister Arun Jaitley on Saturday held a review meeting with lenders and senior officials on the financial stress faced by some of the power projects, including that of Tata Power and Adani Group in Gujarat. The high-level meeting was also attended by Principal Secretary to the Prime Minister Nripendra Misra,...

HDFC to raise up to Rs 13k cr via QIP, preference shares

Sunday, 14 Jan 2018 | PNS | New Delhi | in Sunday Pioneer

HDFC Ltd on Saturday said its board has approved raising up to Rs 13,000 crore primarily to maintain its holding in its banking arm and enter segments like stressed assets and health insurance. This will be the first equity raising by the country's largest pure-play mortgage lender in over a...

Govt asks 4 mints to resume coin production albeit at slower pace

Sunday, 14 Jan 2018 | PTI | Kolkata | in Sunday Pioneer

The Government has gone back on its decision to halt production of coins entirely and has asked all the four mints in the country to restart production, albeit at a slower pace, industry sources said on Saturday. The Govt has directed the state-run Security Printing and...

BoI to be out of RBI watch list soon as recovery picks up: MD

Sunday, 14 Jan 2018 | PTI | New Delhi | in Sunday Pioneer

Bank of India (BoI) has put in place an aggressive bad loan recovery strategy and hopes to be out of the RBI’s watch list soon, the state-run lender’s Managing Director Dinabandhu Mohapatra said. Following inspection of books in March 2017, Reserve Bank of India (RBI) downgraded some of BoI’s accounts...

Focusing on rail funds from asset monetisation, not budget: Minister

Sunday, 14 Jan 2018 | PTI | Mumbai | in Sunday Pioneer

Aiming to fund rail expenditure through asset monetisation, Railway Minister Piyush Goyal said on Saturday he would be ‘satisfied’ with any amount of capital allocation to the transport behemoth in the upcoming budget. Without giving details on the budget allocation for Railways, Goyal told reporters here that he is...

Fortis, RHT Health extend discussion time by 30 days

Sunday, 14 Jan 2018 | PNS | New Delhi | in Sunday Pioneer

Fortis Health Management and Singapore-listed RHT Health Trust have extended exclusivity period to finalise the proposed acquisition by 30 more days from January 12. Fortis’ board had approved the proposed acquisition of entire portfolio of RHT Health Trust (RHT) for an enterprise value of around Rs 4,650 crore. ...

Business Corner

Sunday, 14 Jan 2018 | PNS | in Sunday Pioneer

REC signs loan agreement of Rs 10,453 crorE with TANGEDCO REC signed a loan agreement of Rs 10,453 crore with TANGEDCO for setting up of TANGEDCO's Udangudi Stage-I, 2x660 MW Coal-based Supercritical Thermal Power Project in Tuticorin district of Tamil Nadu. The loan assistance from REC will not only improve the...

Housing scheme norms for urban areas amended

Saturday, 13 Jan 2018 | PNS | New Delhi | in Sunday Pioneer

The Housing and Urban Affairs (HUA) Ministry has amended the guidelines of housing scheme for urban areas under Pradhan Mantri Awas Yojana to enhance its coverage. Areas falling within notified planning or development area under the jurisdiction of an industrial development authority or special area development authority or urban development authority...


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State in dilemma over SC orders on Padmaavat release

19 Jan 2018 | Staff Reporter | Bhopal

With the decision of the Supreme Court setting aside notification issued by the Madhya Pradesh Government banning the release of Hindi movie ‘Padmaavat’, the State Government is in dilemma.The Government does not know what to do in the new scenario...

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