BUSINESS
G. Krishnakumar new Bharat Petroleum Corporation Chairman
Currently an Executive Director of BPCL, he is an industry veteran with diverse leadership experience across businesses and functional domains in his 36-year association with the oil major. He has been at the core of BPCL's pioneering work in revolutionising the downstream fuel retailing industry in the country. Krishnakumar is an electrical engineer from NIT (erstwhile Regional Engineering College), Tiruchirapalli and has done his Masters in Financial Management from Jamnalal Bajaj Institute of Management Studies, Mumbai.
Cabinet approves listing of IREDA through IPO route
The aim is to raise funds through issue of fresh equity shares by the IREDA, official sources said. Department of Investment and Public Asset Management (DIPAM) will drive the listing process, the sources added. This decision supersedes the earlier Cabinet Committee on Economic Affairs (CCEA) decision taken in June 2017 which had allowed the IREDA to issue 13.90 crore fresh equity.
Ratan Tata appointed to 'Order of Australia' for bolstering bilateral ties
As of 2022, Ratan Tata, the Chairman Emeritus of Tata Sons and former Chairman of Tata Group, has a net worth of Rs 3800 crore. In recognition of his support for the Australia-India relationship, he is worthy of formal national recognition with an appointment as an Honorary Officer in the General Division of the Order of Australia for.
Banks drag down Wall Street stocks
The Dow Jones has shed 254 points to 31,992, a 0.8 per cent drop while the S&P 500 is down nearly 20 points, or 0.5 per cent, at 3,942, and the Nasdaq is flat at 11,709, The Guardian reported. Among big US banks, Goldman Sachs is down 1.9 per cent, Citigroup has lost 2.4 per cent and Wells Fargo is 2.7 per cent lower as fears of a full-blown banking crisis intensified, after SVB's parent filed for bankruptcy, The Guardian reported.
India has well-regulated and well-supervised banking sector: RBI Governor
"What we have in India today is a well-regulated and well-supervised banking sector. The same would apply to the NBFCs sector and other financial entities under the RBI's domain," he said while delivering the K.P. Hormis Commemorative Lecture here. Hormis was the founder of the Kerala-headquartered Federal Bank.
Numerous possibilities to expand India-Japan cooperation: Diplomat
"We've had active discussions, where lots of issues were discussed and there were many good analyses, ideas, and suggestions. Also, we have difficulties and challenges as well. But I realized that there are many potentials and possibilities to expand our cooperation," he said while speaking at the Indo-Japan International Conference organised by the Centre for Public Policy Research here.
Air India offers voluntary retirement scheme to its staff again
The VRS offer will be available for permanent general cadre officers who have attained the age of 40 years or above and completed a minimum of five years of continuous service at the airline. Clerical and unskilled categories of employees who have completed a minimum of five years of continuous service at Air India will also be eligible to opt for VRS.
Federal Bank staffers protest against harassment by management
Launching the agitation, Maharashtra State Bank Employees Federation General Secretary Devidas Tuljapurkar warned that if the management failed to heed the staffers' demands, then the entire All India Bank Employees Association would enter the picture and intensify the struggle on a national scale.
Tata Consumer ends acquisition talks with Bisleri
Earlier, Tata Consumer had clarified that it evaluates various strategic opportunities for growth and expansion of its business, on an ongoing basis, and pursuant to this, the management of the company remained in discussions with various parties, including Bisleri International Pvt Ltd, India's largest packaged water company.
China makes surprise rate cut to boost liquidity in banking system
The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for almost all banks by 0.25 percentage points, effective March 27, CNN reported. "(We must) make a good combination of macro policies, better serve the real economy, and maintain reasonable and sufficient liquidity in the banking system," the PBOC said in a statement.
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