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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.


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.


BusinessToday.In
July 11, 2018
Under Sebi's takeover code, if a company acquires more than 25 per cent in another listed company, it has to make an open offer to minority shareholders to buy at least 26 per cent more in the target firm.


Anand Adhikari
New Delhi, July 9, 2018
Fintech players are making a mark in the lending business but need a sustainable business model.


BusinessToday.in
New Delhi, July 9, 2018
NCLT to pronounce verdict in Ratan Tata-Cyrus Mistry caseThe National Company Law Tribunal (NCLT) will pronounce its judgement on a petition filed by Cyrus Mistry challenging his dismissal as chairman of the Tata Sons. The Board of Tata Sons had abruptly removed Mistry as its chairman on October 24, 2016 and sought his ouster from other group companies. He subsequently resigned from the board of six firms, but dragged Tata Sons and his then interim successor Ratan Tata to the NCLT.PNB's big wilful defaulters' dues fall to Rs 15,354 crore in JunePunjab National Bank's data shows that dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month. The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender. Such borrowers had an outstanding loan worth Rs 15,490 crore at the end of May 2018. For financial year ended March 2018, the bank's balance sheet had closed with big wilful defaults owing Rs 15,171.91 crore to the bank.Vijay Mallya shrugs off threat of British asset seizuresEmbattled tycoon Vijay Mallya said he will comply fully with court enforcement officers seeking to seize his British assets, but there was not much for them to take as his family's lavish residences were not in his name. The 62-year-old former liquor baron faces charges of fraud in India as a group of banks seek to recover more than $1 billion of loans granted to his defunct Kingfisher Airlines. A verdict is expected by early September.Ministerial group to recommend deferring sops for digital payments under GSTThe Sushil Modi-led ministerial panel will recommend to the GST Council to defer by a year the proposal to incentivise digital payments under GST, citing revenue implications of doling out concessional tax rate. The panel, in its meeting, decided to wait for stabilisation of revenues under Goods and Services Tax and the new return filing systems in the current fiscal before considering differential GST rates for people making payments using the digital mode.GST Council may approve annual returns form on July 21; experts expect reconciliation with ITRThe format for annual returns and audit is likely to be approved by the GST Council in its meeting on July 21 and industry expects that there could be some reconciliation with annual IT returns as the government aims to check tax evasion. Goods and Services Tax (GST) was rolled out on July 1, 2017, and this is the first year when businesses will have to file annual returns (GSTR-9) for 2017-18 fiscal by December 31, 2018.Rupee may fall to 70/dollar mark this week, say bankersContinued strengthening of the US dollar, lack of foreign investment inflows and concerns over rising oil prices are likely to keep the rupee under pressure and push it down to the 70 mark this week, said bankers. They added 69.30 remains a crucial level for the domestic currency, which if breached, could further plumb down to the 70 mark against the dollar. The Reserve Bank of India (RBI), however, will not be comfortable with the currency touching 70 and would strongly defend the same, according to them.


PTI
New Delhi, July 8, 2018
Dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month, the bank data has showed. Such borrowers had an outstanding of Rs 15,490 crore at the end of May 2018.


BusinessToday.In
July 4, 2018
The buzz is that Flipkart is looking to enter the financial services space, and start offering its customers as well as sellers a plethora of credit and insurance products.


BusinessToday.In
July 2, 2018
As part of the equity-raising program, the Group sold nearly 4 per cent stake in Adani Ports and SEZ through an on market block trade raising Rs 3,000 crore in June.


BusinessToday.In
July 2, 2018
The JV, which has been under discussions since September last year, combines the European steel businesses of the Indian steel major with the German firm to create Thyssenkrupp Tata Steel BV.


BusinessToday.In
New Delhi, June 28, 2018
B Sriram has resigned from the post of Managing Director at the State Bank of India (SBI), days after being appointed as the MD and CEO of the IDBI Bank for a period of three months.


Mudit Kapoor
New Delhi, June 28, 2018
The company incorporated in 1988 tasted phenomenal success in its first innings, but faced near bankruptcy in 2002. In its second innings, it learnt from its mistakes, won back customer and investor confidence.


E Kumar Sharma
June 27, 2018
Management experts are seeing a clear message to conglomerates in the recent move by Boston-headquartered conglomerate GE to \"focus on aviation, power and renewable energy\" to create \"a simpler, stronger, leading high-tech industrial company.\"


PTI
June 26, 2018
Cost of living for expatriates in Mumbai is the highest in the country, and more expensive than its global peers like Melbourne and Frankfurt, said a survey.


Sonal Khetarpal
New Delhi, June 25, 2018
A peek into the whys and hows of CEO compensation in the country


Reuters
June 20, 2018
General Electric, an original member of the Dow when it was formed by Charles Dow in 1896 and a continuous member since 1907, will be replaced in the 30-component stock average by drug store chain Walgreens Boots Alliance Inc.


BusinessToday.In
June 20, 2018
Chief Economic Advisor Arvind Subramanian has announced his intention to relinquish his post and return to the United States.


BusinessToday.In
June 18, 2018
The sanctioned amount of Rs 16,000 crore does not include any expenses incurred or to be incurred for the buyback like filing fees, advisory fees, public announcement publication expenses, printing and dispatch expenses, and other incidental and related expenses, the company further added.


PTI
June 17, 2018
The major defaulters included Kudos Chemie - Rs 1,301.82 crore; Kingfisher Airlines Rs 597.44 crore; BBF Industries Rs 100.99 crore; ICSA (India) Ltd Rs 134.76 crore; Arvind Remedies Rs 158.16 crore and Indu Projects Ltd Rs 102.83 crore.


Anand Adhikari
New Delhi, June 15, 2018
Days after the Reserve Bank of India ( RBI) hiked the repo rate for the first time in four years by 25 basis points to contain inflation, bad news is pouring in from all sides.  Here are the four key developments.


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