State Bank of India reported over three-fold jump in September quarter profit, despite higher provisions. Sources say Columbia's Synergy Group, the only potential bidder for Jet Airways, and its founder German Efromovich have a credit default history. Maruti Suzuki India has deferred plans to launch its first electric vehicle Wagon R EV for individual customers. Read for more top stories from the world of business and economy:
Columbia's Synergy Group founder, who built the sprawling Latin American conglomerate with his brother Jose, had lost his shipyard and airline businesses because of loan defaults.
The public sector lender's net interest income (NII) grew by 17.67 per cent to Rs 24,600 crore in Q2FY20 versus Rs 20,906 crore in Q2FY19.
The billionaire investor suspects the complaint against CEO Salil Parekh and CFO Nilanjan Roy has been made "purposely" and by "manipulators."
As per the allegations, Videocon Industries gave crores of rupees to Deepak's firm, barely six months after his company got Rs 3,250 crore worth of loan from ICICI Bank in 2012.
During the Auto Expo 2018, Maruti had said it would launch the vehicle in 2020 and had imported a batch of 50 Wagon R EVs from Japan, which were being tested as a pilot project across the country.