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BusinessToday.In
August 14, 2018
The Life Insurance Corporation is in the process of buying 51 per cent stake in the debt-stressed IDBI Bank. The Union Cabinet gave its approval to the proposal on August 1.


Anand Adhikari
August 11, 2018
Paresh Sukthankar, the man who was seen as a natural successor to Aditya Puri, MD & CEO, abruptly resigned on Friday from the largest private bank in the country.


BusinessToday.In
August 2, 2018
RBI increases repo rate by 25 basis points to 6.5%, maintains 'neutral' stanceThe RBI's Monetary Policy Committee, during its by-monthly meeting on Wednesday, increased the repo rate by 25 basis points to 6.5 per cent from the previous rate of 6.25 per cent. This is the second hike in the interest rate after four years of continuous halt by the central bank. This time too, the MPC again maintained the neutral stance to achieve the medium-term target for inflation of 4 per cent in a band of +/- 2 per cent.The MPC has noted that uncertainty around domestic inflation needs to be carefully monitored in the coming months. What caused the rate hike? \"The main reason for increasing of the repo rate has been done to maintain the 4 per cent inflation target, a target from which we have been away for several months,\" said the RBI Governor.Supreme Court comes down heavily on the Amrapali GroupThe Supreme Court has come down heavily on the Amrapali group for \"defrauding investors\" and playing \"dirty games\". The apex court has directed the attachment of all bank accounts and movable properties of 40 companies of the Amrapali real estate group. It has frozen all the bank account of all directors of the 40 companies and also restrained them from selling their personal properties without the permission of the court. The apex court is hearing petitions filed by flat buyers who have demanded reversing of the September 4, 2017, NCLT order.LIC-IDBI deal: Cabinet approves LIC's acquisition of 51% stake in IDBI BankUnion Cabinet, chaired by Prime Minister Narendra Modi, has cleared the Life Insurance Corporation's acquisition of 51 per cent stake in the debt-ridden IDBI Bank. The approval of the deal means LIC will raise its stake in the bank from the current 8 per cent to 51 per cent, which makes makes it a majority holder. As per the proposal, IDBI Bank will issue preferential shares to LIC to raise money. The LIC stake buy will help the bank get capital support of Rs 10,000-13,000 crore.TRAI Announces 5G Spectrum PricingTelecom regulator TRAI has recommended rules and prices for the next round of spectrum auction which will include radiowaves for 5G mobile services. The regulator has recommended that base price for bidding should be higher of the two figures - 80 percent of the average valuation of spectrum band in the licensed service area or the price realised in the October 2016 auction. The government is yet to finalise the timing of the next round of auction. RBI asks Paytm Payments Bank to stop enrolling new customers on its platform Days after Paytm Payments Bank CEO Renu Satti stepped down from her role to lead company's new retail initiative, a Livemint report said that the Vijay Shekhar Sharma-led mobile-first bank has stopped onboarding new users on its platform following observations made by the RBI. Paytm stopped enrolling new customers on June 20 following an audit by RBI. Paytm Payments Bank allows customers to open zero balance accounts without any transaction charges. It is part of a new set of differentiated banks which were given licence by the RBI Mukesh Ambani's Reliance Industries jumps 55 spots in Fortune 500 companies Mukesh Ambani-helmed Reliance Industries has made one of the biggest jumps in the Fortune 500 rankings of the world's biggest companies. Reliance Industries moved up on the list by 55 slots to be ranked at 148. It was previously ranked 203rd. According to Fortune, Reliance Industries saw an upward trend in profits by 25.5% in the last fiscal. In 2017-18, RIL saw a revenue of $62.3 billion. However, state-owned Indian Oil Corporation (IOC) is the top-ranked Indian company. It is ranked 137, a significant rise from the previous 168.


BusinessToday.In
New Delhi, August 1, 2018
The approval of the deal makes LIC a majority holder in the bank. As per the proposal, IDBI Bank will issue preferential shares to LIC to raise money.


BusinessToday.In
New Delhi, August 1, 2018
There is a dire need to understand life insurance and all its types to make informed choices based on what you need and what might benefit you in the long run.


BusinessToday.In
New Delhi, July 26, 2018
Incorporated in 1987, IL&FS was ex-Citibanker Parthasarathy's brainchild and was initially promoted by the Central Bank of India, Housing Development Finance Corporation Limited and Unit Trust of India (UTI).


BusinessToday.In
New Delhi, July 25, 2018
Tata Sons, the investment holding company of the $100-billion Tata Group, has approved a Rs 10,161-crore investment plan that focuses on the conglomerate's finance, insurance, defence, realty and retail units - all areas that its chairman is aggressively betting on.


Amar Pandit
July 25, 2018
A lot of agents, financial distributors and banks try to call themselves financial advisors or planners. They generously also use the term financial planning/wealth management as and when it pleases them.  Consumers are naturally confused. So how does one evaluate a planner? Ask the following questions and you will have your answer.


Money Today Team
New Delhi, July 23, 2018
Managing your money can be tricky. Send your queries, and top-notch industry leaders will help you resolve any issue.


Money Today Team
New Delhi, July 23, 2018
In spite of costly personal loans and zero equity exposure, the Sharma family is ready to get in the groove, says Financial Planner Pankaaj Maalde.


Joe C. Mathew
New Delhi, July 23, 2018
The government's attempt to sell Air India has failed but its broad public asset management strategy is showing results.


Anand Adhikari
July 20, 2018
Reliance Nippon AMC recently got listed, while HDFC AMC would be entering the market next week. Let's look at how the HDFC AMC will be valued in the market.


BusinessToday.In
July 17, 2018
Days after the state-run lender received a letter from Life Insurance Corporation of India (LIC) expressing its interest in acquiring 51 per cent controlling stake in IDBI Bank, the NPA-laden bank in its board meeting today sought government's decision in this regard.


Mail Today Bureau
July 17, 2018
The next step for LIC is to approach market regulator Sebi, as the bank, which is also state-owned, is a listed entity. Insurance regulator IRDAI has already given its approval to the insurer for the stake purchase.


PTI
New Delhi, July 16, 2018
Last week, the bank and Carlyle Group, which owns over 32% in PNB Housing Finance, had announced their plans to sell at least 51% stake in the company.


BusinessToday.In
New Delhi, July 16, 2018
Department of Economic Affairs Secretary Subhash Chandra Garg said that since the combined shareholding of both the government and LIC would be over 90 per cent, and that public shareholding is too low, an open offer might not be on the cards.


BusinessToday.In
July 16, 2018
Last month, the insurance regulator approved LIC's proposal to increase its stake in troubled IDBI Bank from current 10.82 per cent to 51 per cent. Currently, the government holds 81 per cent stake in IDBI Bank.


Mudit Kapoor
July 11, 2018
Before you select your insurance policy, go through these 10 situations that can put your insurance claim in jeopardy.


BusinessToday.in
New Delhi, July 11, 2018
Andhra Pradesh tops in ease of doing business ranking; Gujarat slips to 5thAndhra Pradesh continues to be the best state to do business in the country while neighbouring Telegana has been ranked second with Haryana at the third spot, in the ease of doing business list prepared by the World Bank and the Department of Industrial policy and Promotion (DIPP). Gujarat has slipped further to the fifth rank in the ease of doing business.Aircel Maxis case: P Chidambaram, Karti get protection from arrest till August 7Former Finance Minister P Chidambaram got relief for the third time in the Aircel Maxis case from the Patiala House Court and his son Karti for the fifth time as their anticipatory bail has been extended till August 7. The Enforcement Directorate for the first time filed a reply in the case of P Chidambaram opposing his bail plea.TCS' net profit jumps 23% to Rs 7,340 crore in June quarterIT major Tata Consultancy Services Ltd's net profit rose 6.3 per cent sequentially while 23.5 per cent on YoY basis to Rs 7,340 crore in its first quarterly results declared to stock exchanges on Tuesday. The company's net profit in the same period in the previous fiscal stood at Rs 5,945 crore, the TCS said.HDFC group m-cap crosses Rs 10 lakh crore, only second after TatasDeepak Parekh-led financial services conglomerate HDFC group saw the market capitalisation of its listed firms cross Rs 10 lakh crore mark, making it only the second Indian business house after Tatas to achieve this feat. HDFC group currently has four listed entities -- housing finance major HDFC Ltd, banking behemoth HDFC Bank, life insurance firm HDFC Standard Life and Gruh Finance -- while Tatas have nearly 30 firms listed on the stock exchange.WhatsApp's new update to reach devices soon; feature to take on fake forwardsWhatsApp has started rolling out a new feature that will clearly demarcate messages that are forwards. The Facebook-owned company has released an official blog regarding the new feature where it explains how this new feature will help in their efforts to curb fake messages and fake news. Any forwarded message will have a small \"Forwarded\" label on top.


BusinessToday.In
July 11, 2018
At 10:51 am, the stock was trading 6.58% or 3.50 points higher at 56.70 on BSE. On Tuesday, the stock rose 9.02 per cent to close at Rs 53.20 on BSE. Intra-day, it jumped 14.34 per cent to Rs 55.80 on Tuesday when reports about the open offer poured in. On NSE, shares of the company zoomed 9.32 per cent to end at Rs 53.35.


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