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Rajeev Dubey
August 11, 2018
'No' says Jet Airways emphatically. But with mounting losses, negative net worth of Rs 7,100 crore and liabilities well in excess of assets, it may be very, very close.


BusinessToday.In
August 9, 2018
The stock rose 8.5% intra day to Rs 345.85, its highest level since February 2018. It was the top  Sensex, Nifty gainer today. It has gained 14.89% during the last one year and 6.42% since the beginning of this year.


BusinessToday.In
New Delhi, July 25, 2018
Confirming that these minority shareholders have rejected Bharti Group's discriminatory resolution plan, Arvind Gupta says they consider their shares in BTL as a \"crown jewel\" and are not willing to divest them at \"oppressive consideration\" price of Rs 163.25.


BusinessToday.In
New Delhi, July 17, 2018
Changes in visa rules to have serious adverse consequences on US economy: Nasscom  Indian IT body Nasscom has said the recent work visa-related changes announced by the US will have \"potentially serious adverse consequences\" on the American economy as it will make it more difficult for companies to employ skilled foreign nationals to fill critical skills gaps in the US. One of the changes, which come into effect on September 11, allows US Citizenship and Immigration Services (USCIS) adjudicators full discretion to deny applications, petitions, and requests without first issuing a Request for Evidence (RFE) or Notice of Intent to Deny (NOID).  People should have rights over their data; firms mere custodians: Trai  Trai has said firms collecting user data don't have a right over it and emphasised that consumers' consent should be mandatory and they should also be given the 'Right to be Forgotten'. Terming the existing data protection framework as inadequate, the Telecom Regulatory Authority of India (Trai) recommended to DoT that companies should not use meta-data to identify users and should disclose any data breaches. It said entities controlling and processing user data are \"mere custodians\" and all of them should be brought under a data protection framework.  Jaypee ready to sell cement business to refund homebuyersJaiprakash Associates Limited (JAL) pleaded before the Supreme Court on Monday that the company would deposit another Rs 600 crore to refund homebuyers if it was allowed to dispose of its identified assets, which included a cement plant at Rewa in Madhya Pradesh. Senior advocate Fali S Nariman, counsel for JAL, informed a bench headed by Chief Justice Dipak Misra that the Noida-based real estate company has already deposited Rs 750 crore with the Supreme Court's registry and it would pay another Rs 600 crore in seven instalments for paying the principal amount to the homebuyers.ICICI Bank decides to postpone AGM by a month  ICICI Bank has decided to postpone its annual general meeting (AGM) by a month amidst independent enquiry on alleged cases of impropriety against the bank's CEO Chanda Kochhar. The meeting has been rescheduled to September 12. Meanwhile, Kochhar has gone on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon. Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities, including the Videocon group. Multiple agencies, including the CBI and regulator Sebi, are already probing the alleged lapses involving Kochhar and her family members. SBI tells its 70,000 employees to return 'compensation' paid for working overtime during note banMore than 70,000 employees of associate banks of the State Bank of India are angry. Banking staff worked overtime post-demonetisation to meet the demands of long queues of people waiting to exchange old notes with the new ones. The bank staff had been promised \"overtime compensation\" by the employer banks for the \"extra hours\" they worked post-demonetisation. The 70,000 officers and employees of banks like State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur - these all merged with the SBI on April 1, 2017 - got the compensation but now they are being asked to \"return the compensation for extra work\". IMF warns of rising risks to global growth amid trade tensions  The global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook, the International Monetary Fund has said. The IMF's updated World Economic Outlook (WEO) forecast global growth of 3.9 per cent this year and next, despite sharp downgrades to estimates for Germany, France and Japan. The US economy is still seen growing by 2.9 per cent this year, and the estimate for China remains 6.6 per cent, with little impact expected near term from the tariffs on tens of billions of dollars in exports the countries have imposed on each other so far.


PTI
July 16, 2018
ICICI Bank's annual general meeting has been rescheduled to September 12 as against the earlier schedule of August 10.


BusinessToday.In
New Delhi, July 16, 2018
The whistleblower, reportedly an anonymous ICICI Bank employee, had written to the bank and the RBI in March alleging irregularities in the conduct of 31 borrower accounts, resulting in incorrect asset classification.


PTI
New Delhi, June 29, 2018
Puri termed the ongoing troubles in the system as a period of transition, and that there is nothing to worry at the systemic level as most of the lenders are either well-capitalised or have the assurance of government support.


BusinessToday.In
June 29, 2018
Chaturvedi, a former IAS officer, was appointed as Additional (Independent) Director for a period of 3 years.


BusinessToday.In
June 26, 2018
The Sebi had initiated a preliminary enquiry into various disclosures made by ICICI Bank after various agencies started investigating the charges of conflict of interest and quid pro quo against CEO Chanda Kochhar.


Anand Adhikari
New Delhi, June 25, 2018
Even as a former Supreme Court judge examines allegations of impropriety, the bank has to return to normal functioning.


BusinessToday.In
New Delhi, June 22, 2018
The findings in the interim report had no material impact on the financial statements for FY2018 and the interim report has been submitted to the regulator, ICICI Bank said in a stock exchange filing.


BusinessToday.in
New Delhi, June 21, 2018
Days after ICICI Bank CEO Chanda Kochhar was asked to go on an indefinite paid leave, the tax sleuths are now probing the complex transactions linked to Kochhars family residence in South Mumbai. BusinessToday.In Editor Rajeev Dubey talks about the investigation being conducted. ICICI Bank has initiated its own probe and on Monday announced that Chanda Kochhar will be on leave until the investigation is over.


BusinessToday.In
New Delhi, June 21, 2018
The Income Tax department is probing the acquisition of the Kochhars' flat at 45, CCI Chambers CHS Limited, following which it informed the Central Board of Direct Taxes (CBDT) about its findings.


BusinessToday.in
New Delhi, June 19, 2018
Sandeep Bakhshi, the CEO of ICICI Prudential Life Insurance, was recently appointed as the COO of ICICI Bank on Monday. He will be replacing ICICI Bank CEO Chanda Kochhar. Chanda is on a long leave till a probe into allegations of conflict of interest in the case against Videocon Group concludes. Watch BusinessToday.In video to know more about the new ICICI COO.


BusinessToday.In
New Delhi, June 19, 2018
Bakhshi will hold the post of ICICI Bank COO for a period of five years. He will be responsible for all the business and corporate centre functions of the bank during his tenure as COO.


BusinessToday.In
June 19, 2018
Even as media reports continue speculation around the future of the top post at the bank, we look at how the stock has moved during all the major developments since Kochhar took charge in 2009.


BusinessToday.In
New Delhi, June 19, 2018
ICICI Bank CEO Chanda Kochhar to be on leave till probe is over, Sandeep Bakhshi named COOThe ICICI Bank's Board of Directors has said that Chanda Kochhar, MD and CEO of ICICI Bank, will be on leave till the ongoing independent enquiry against her is completed. In its meeting, the Board also appointed Sandeep Bakhshi as the Whole Time Director and Chief Operating Officer (COO) designate. He will report to the ICICI Bank CEO. In its regulatory filing, ICICI Bank has also established that Kochhar will continue to hold the position of chief executive in the organisation. Bakhshi's tenure will be for a period of five years and his appointment is subject to regulatory approval. He will assume office on June 19, 2018, or on the date of regulatory and other approvals, whichever is later.Arun Jaitley predicts a brighter future, more jobs in detailed Facebook postHe may be on sick leave and unable to attend office but that has not stopped Union Minister Arun Jaitley from actively batting for the government on the social media. He took his latest pot-shot at the opposition earlier today, tweeting that \"The economy & the markets reward structural reforms, fiscal prudence, and macro-economic stability. They punish fiscal indiscipline and irresponsibility. The transformation from UPA's 'policy paralysis' to the NDA's 'fastest growing economy', conclusively demonstrates this.\" Jaitley's post focuses on booming sectors instead. \"An analysis of the data released clearly shows that the construction sector is expanding by double digits. It is a job creating sector. Investment is increasing. Domestic investment is also increasing. The FDI is at an unprecedented level,\" he said, adding that the manufacturing sector is also expanding. That apart, the government had increased expenditure on infrastructure creation and rural projects.Vijay Mallya first person to be booked under new Anti-Financial Fraud LawThe Enforcement Directorate has filed a prosecution complaint or a supplementary charge-sheet against liquor baron Vijay Mallya under the Fugitive Economic Offenders Act. The document has been filed before a special court under the provisions of the Prevention of Money Laundering Act (PMLA), naming the defunct Kingfisher Airlines, UBHL (United Breweries Holdings Ltd) and Vijay Mallya under the new law. The Fugitive Economic Offenders Ordinance, 2018 aims to deter economic offenders from evading the law by remaining outside the jurisdiction of Indian courts.Central Water Commission to use Google technology to forecast floods  The Central Water Commission (CWC) has entered into an agreement with Google to improve flood forecast systems and disseminate flood-related information by using technology developed by the tech giant. \"The initiative is likely to help crisis management agencies to deal with extreme hydrological events in a better manner. Under this agreement, the CWC and Google will share technical expertise in various fields, including geospatial mapping and analysis of hydrological observation data,\" the Water Resources Ministry said.The CWC, which is an apex technical organisation in the field of water resources, will use Google technology to improve flood prediction systems and will also use tech giant's earth engine to visualise and improve flood management.Tata Nano to get another lease of life with new electric motor; Ola among first buyersThe Tata Nano is all set to come in a new avatar, the all-new Jayem Neo EV. Not only that, the new Nano will also be incorporated in the cab service company Ola, where 400 units of the new car will initially be supplied. Jayem Automotive, an engineering company has supplied parts to Tata Motors for a very long time. Tata Motors announced a joint venture with Jayem Automotives Pvt. Ltd. to develop special performance vehicles. Jayem Automotives will now source the body shell and cycle parts from Tata Motors and assemble the Neo Electric in Coimbatore.Ayushman Bharat: Only half the states ready to launch scheme on August 15On August 15, when Prime Minister Narendra Modi will launch the Ayushman Bharat National Health Protection Mission (AB-NHPM), almost half of the states would not be part of it. Only 12-15 states will launch the scheme that day as the others are not prepared to roll it out on time. States like UP, Bihar, Assam and West Bengal may take up another 6 months or longer to launch Ayushman Bharat. Announced in the 2018 Budget, the AB-NHPM was touted as the 'world's largest government funded health care programme'


BusinessToday.In
New Delhi, June 18, 2018
In its regulatory filing, ICICI Bank has also established that Kochhar will continue to hold the position of chief executive in the organisation.


BusinessToday.in
New Delhi, June 18, 2018
Sameet Chavan, Chief Analyst, Technicals and Derivatives, Angel Broking, takes viewers through all the market action today. The Sensex closed lower choppy trade amid flaring up of trade tariff tensions between the US and China, forcing investors to adopt a cautious stance. US President Donald Trump on Friday imposed a 25 per cent tariff on $50 billion worth of Chinese goods, as he accused Beijing of intellectual property theft and unfair trade practices, triggering a full-fledged trade war between the world's two largest economies.


BusinessToday.In
June 18, 2018
The Sensex closed lower in choppy trade amid flaring up of trade tariff tensions between the US and China, forcing investors to adopt a cautious stance.US President Donald Trump on Friday imposed a 25 per cent tariff on $50 billion worth of Chinese goods, as he accused Beijing of intellectual property theft and unfair trade practices, triggering a full-fledged trade war between the world's two largest economies.Reacting to Trump's latest announcement, China said it has imposed \"equal\" tariffs on US products.While the Sensex closed about 74 points lower at 35,548, Nifty cracked the 10,800-mark by falling 17 points to close at 10,799. During the session, it moved between 10,830 and 10,787.ICICI Bank was the top Sensex gainer amid a report that its life insurance venture's CEO Sandeep Bakhshi may be appointed as interim chief at the private sector lender. Currently, Chanda Kochhar is the CEO and MD of the bank.It closed 3.61% or 10 points higher at Rs 292.50 level.  Tata Motors , Bajaj Auto and Maruti were other major Sensex gainers.  Vedanta, Kotak Bank and Bharti Airtel were the top Sensex losers. Market breadth was negative with 931 stocks closing higher against 1710 ending lower on the BSE.


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