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Biz EOD: SBI profit jumps three-fold; SFIO probes into ICICI-Videocon loan case; Maruti defers EV plan

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twitter-logo BusinessToday.In        Last Updated: October 25, 2019  | 22:30 IST
Biz EOD: SBI profit jumps three-fold; SFIO probes into ICICI-Videocon loan case; Maruti defers EV plan
Top stories from the world of business and economy.

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:

1. Jet Airways' only bidder Synergy Group has a default history

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.

2. SBI Q2 profit jumps three-fold to Rs 3,012 crore on higher net interest income

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.

3. What Rakesh Jhunjhunwala thinks of allegations against Infosys CEO Salil Parekh

The billionaire investor suspects the complaint against CEO Salil Parekh and CFO Nilanjan Roy has been made "purposely" and by "manipulators."

4. SFIO starts probe into ICICI-Videocon loan case; may soon summon Chanda, Deepak, Dhoot

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.

5. Maruti Suzuki defers EV plan, says will not launch Wagon R EV in 2020

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.

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