Earlier this month, Dewan Housing Finance Corporation Ltd (DHFL) had received four bids for either picking up stake in the company or buying out assets

DIPAM Secretary Tuhin Kanta Pandey said the pre-IPO work of LIC is going on at four stages -- appointment of advisors for ensuring compliance, legislative amendment, LIC's internal software changes to come out with its 'embedded value' and appointing an actuary for vetting LIC's actuarial valuation

The board of directors of Vedanta has set October 31, 2020, as the record date for payment of dividend; the dividend payout will be Rs 3,500 crore, the company informed

The minimum purchase price is Rs 1,50,000. Modes of annuity offered by LIC are yearly, half-yearly, quarterly and monthly, with the minimum annuity being Rs 12,000 per annum

The rating review follows an increase in refinancing risk and significant funding needs at the holding company level, following Vedanta Resources' failure to acquire the balance shareholding in key subsidiary Vedanta Limited that would have improved access to group cash

The government is likely to further extend the deadline for putting in a preliminary expression of interest for the loss-making national carrier to December 15

The new age  NBFCs like lending Fintechs and  Peer 2 Peer  lenders ,which are serving the under-served and unbanked customers,need a further strengthening of regulations in the light of new business challenges thrown up by the Covid -19. Few months ago, the RBI had raised a red flag citing some malpractices like charging exorbitant interest rates , harsh recovery methods by using social media tools and unauthorised use of customers personal data. Post the pandemic, the problems of new age NBFCs have only compounded because of drying up of funding sources and the unsecured nature of loans and risky non salaried customers. A comprehensive review of operations of these new age NBFCs will certainly provide key sights on how these models are working , their credit appraisal system , the gaps in risk management , level of auditing , compliance culture and the governance framework. In fact, a timely intervention by the RBI will be good for the growth of new age NBFCs and also the financial system. Watch as Anand Adhikari, Executive Editor, Business Today, explains. Read more: Wait till Q4! RBI Governor Das sees light at the end of the tunnel for economyAlso watch: First big step in creating 'Too Big To Fail' framework for LIC, GIC Re and New India

Tata Motors was the largest spender on R&D in FY20 with investment of Rs 3,100 crore, which amounts to 7.10 per cent of its total revenue

As per the latest shareholding pattern available on the BSE, LIC has increased its stake in Kotak Mahindra Bank by 0.73 per cent to 3.18 per cent from 2.45 per cent earlier

In November last year, the Reserve Bank referred DHFL, the third largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings

India Stock Market Highlights Today: Tech Mahindra, followed by HCL Tech, TCS, ICICI Bank, Bajaj Finance and ITC were among the top losers on Sensex today. On the other hand, Tata Steel, ONGC, NTPC, Asian Paints, M&M, Nestle India and Bharti Airtel were among the gainers

While the proposal of the Clix Group for a merger with Lakshmi Vilas Bank is pending with the Reserve Bank of India, the board of the bank is meeting tomorrow to take a call on the rights issue

Jhunjhunwala increased stake in the company to 1.53 percent in Q2 from 1.47 percent in June quarter

Share price of Vedanta Ltd fell 23.1% intra day to Rs 94 against previous close of Rs 122 on BSE

The share opened at Rs 490.25 causing loss of Rs 63 or 11.50% to investors. Price band of the IPO was fixed at Rs 552 to Rs 554 per share

LIC's bid price has become the discovered price in the reverse book building process, while many others also bid at the price of Rs 320

The Insurance Regulatory and Development Authority of India  ( IRDAI) has identified three state owned insurance companies - LIC, GIC Re and the New India Assurance Company as 'too big to fail' institutions. The firms are so big and important that their failure will impact the entire financial system. These institutions will be subjected to higher supervision by the insurance regulator. There's a need for the implementation of the new framework in letter and spirit. The government and regulator are required to follow a broad governance framework in a more rigorous manner.  Anand Adhikari, Executive Editor of Business Today, explains. Watch the video for more.Also Read: This midcap IT stock delivered 130% returns in 11 months; should you buy?

The total billionaire wealth rose by more than a quarter during the early months of the coronavirus pandemic to reach $10.2 trillion in July, breaking the previous record of $8.9 trillion at the end of 2017

While the 94-year Laksmi Vilas Bank is a much smaller bank with a balance sheet of Rs 25,000 crore, one-tenth of YES Bank and one-twelfth of IDBI Bank, it needs immediate infusion of capital

The allotment for the shares is expected to be known by October 7/ October 8. Those who had bid for the issue can check the subscription status on the online portal of KFin Technologies, the registrar to the issue