SKS Microfinance Limited cut its lending rate by 1% to19.75% per year for all future disbursals. “With this, the Company becomes the first micro finance institution to charge a sub-20% interest rate on its core Income Generating Loans (IGL) which are unsecured micro loans. Interest rate of 19.75% is the lowest rate charged by any […]
All India Bank Officers’ Association, the second largest organisation of bank officers, said it would support the upcoming strike by IDBI employees against disinvestment of IDBI Bank. The government is reportedly planning to bring down its holding in the bank below 51% like it did in case of Axis Bank (formerly UTI Bank). “The entire […]
Reliance Infrastructure Ltd., one of the flagship companies of the Anil Ambani group, said it expects bring Pipavav Defence & Offshore Engineering Co from the current corporate debt restructuring (CDR) program after taking over the company. Reliance Infra is in the process of acquiring Pipavav Defence & Offshore and is conducting an open offer for […]
The Power Transmission & Distribution Business of L&T Construction has Won Orders Worth Rs 1,038 crores in the international and domestic markets in November 2015, the company said. Larsen & Toubro Saudi Arabia LLC, a fully owned subsidiary of L&T, has bagged an order valued at SAR 405.75 Million (USD 108.2 Million) for the construction […]
Mahindra & Mahindra has launched an automatic variant of its top utility vehicle, the XUV500. The Automatic Option will be available on 3 variants of the New Age XUV500 – W8 FWD and W10 FWD & AWD and starts at a price of Rs 15.36 lacs (ex-showroom Navi Mumbai) for the W8 FWD variant. The […]
Snapdeal, one of India’s top three e-commerce firms, has distanced itself from a comment made by actor Aamir Khan on the perception that there has been a rise in intolerance in India in recent months. Khan, who features in many of Snapdeal’s ads, had said that his wife is starting to have some doubts about […]
Tata Housing has launched a premium new housing project called Eleve in Mumbai. The project, which will offer 2BHK, 2.5BHK and 3BHK units starting at Rs. 1.4 crore, is being built in collaboration with the city-based realtor Neptune group and is spread across 22 acres of land. Located in Bhandup, ‘Eleve’ will have access to […]
In a move that would increase safety on the roads, Maruti Suzuki said it would henceforth offer dual airbags and anti-skid braking system as an option in all variants of its best-selling Swift hatchback and the ‘sedan’ version, DZire. This means that even someone buying the entry-level version can opt for airbags and ABS. It […]
Nippon Life Insurance, one of the largest life insurers in the world, has agreed to increase its stake in Reliance Life Insurancem a part of Reliance Capital Ltd from the existing 26 per cent to 49 per cent. The Japanese company will be investing an aggregate value of Rs 2,265 crore (US$ 348 million) to […]
Berger Paints and Nippon Paints have decided to move much of their automotive paints business in India to BNB Coatings India — a joint venture of the two companies. Nippon Paint Automotive Coatings Co Japan holds 51% of BNB Coatings India, while the remaining is held by Berger. The parties have entered into a non-binding […]
NDTV said it, along with some of its officebearers, have got a notice from the Enforcement Directorate asking why it should not be subjected to penalties for violating foreign exchange rules. “The Company along with Prannoy Roy, Executive Co-Chairperson, Radhika Roy, Executive Co-chairperson, K.V.L. Narayan Rao, Executive Vice Chairperson and NDTV Studios Ltd have on […]
Infosys said one of its board members has resigned for personal reasons. Carol M. Browner was an independent director of the company. She has served as director of the White House Office of Energy and Climate Change Policy in the Obama administration from 2009 to 2011. She is a Distinguished Senior Fellow at the Center […]
Boards of UPL Limited and Advanta Limited — two companies engaged in agriculture-related business — approved a merger of the two companies in a share swap deal. According to the deal, each Advanta shareholder owning one equity share of the company will get 1 UPL share, plus 3 optionally redeemable convertible preference shares of par […]
Vodafone India said it will allow its subscribers, starting with those in the NCR, to choose their own number. At present, subscribers have to choose from a limited set of numbers in stock with the retailer. However, under the new scheme, they can request for any number (except premium numbers such as 981111111). “Customers can […]
Honda Motorcycle & Scooter India Pvt Ltd launched its 15th bike of the year, the 125 cc CB Shine SP. The motorcycle maker had promised at the beginning of the year that it would introduce 15 new bikes (including upgrades) this year. Honda is the fastest growing bike brand in India. The Honda CB Shine […]
Indian Prime Minister Narendra Modi is at your fingertip now. You can email him, send him a text and expect a reply from him also if possible. You have to be just the owner of a smartphone which can download “Narendra Modi App”. This new App is one more attempt by Modi to reach out […]
Prime Minister Narendra Modi suddenly seems to be Manmohnized. His hyper active twitter handle has gone silent on the hottest controversy of the day and he has practically disappeared from the reach of camera, which he loves so much. His cabinet ministers are holding brief for him when the people want to know his “mann […]
ICICI Prudential, India’s fifth biggest mutual fund by equity holdings, increased its cash holdings in May by selling most of its holdings in Bharti Airtel and much of its holdings in ONGC, Crompton Greaves, Cairn India, Hindalco and SJVN, publicly available numbers revealed. Mutual funds typically increase cash holdings when they expect share prices to […]
The main argument put forward by telecom operators in the ongoing net neutrality consultation with regulator TRAI is that they are forced to pay a lot of levies, which the apps do not pay any of them. This, according to the service providers, creates a ‘non level playing field’ and therefore, the app providers, such […]
My association with the Aam Aadmi Party predates its formation. I was among the first 500 or so people who joined the erstwhile India Against Corruption movement back in 2011 at a time when it was just another protest at Jantar Mantar in Delhi. Over the next few months and years, I did my fair […]
