Bankers get shield from fraud heat; boards of PSBs to be held accountable
The government has watered down its framework for dealing with high-value frauds in a bid to encourage managing directors (MDs) and chief executive officers (CEOs) of state-owned banks to take commercial decisions fearlessly. Read more
Lalit Modi's asset sale claim: A battle brewing in late K K Modi's backyard
While starting out on his new venture some years ago, Samir Modi made a call to 7-Eleven for a tie-up to set up the country’s first chain of convenience stores. But the US company, the largest globally in this business, was not willing to give him an exclusive franchisee for the country. Said Samir, the youngest son of K K Modi, in an interview a few months ago: “I am a builder of a new business, not a seller. Read more
Airtel Africa Q3 result: Net profit slumps 23% YoY on higher tax outgo
Bharti Airtel’s Africa unit reported a net profit of $103 million (Rs 735 crore) in the quarter ended December 31, a 23 per cent fall from $133 million in the same period a year before. Read more
Tatas raise the EV game with attractive price on high-level localisation
Tata Motors’ strategy of adopting a very competitive pricing for the Nexon EV will prompt its rivals — Maruti Suzuki India as well as Mahindra and Mahindra (M&M) — to package their offerings in a manner that attracts buyers. Read more
Start-ups that burn investor money won't get second chance: Ratan Tata
Industrialist Ratan Tata on Tuesday warned that start-ups which burn investors' money and disappear will not get a second or a third chance. Read more
India and US set to finalise $10-b trade deal in Feb
Next month when United States Trade Representative (USTR) Robert Lighthizer visits New Delhi, India and the US are likely to finalise a mega trade deal pegged above $10 billion (more than Rs 71,000 crore). The deal, whose legal vetting is underway, will be signed during US President Donald Trump’s visit to India, and is a precursor to a free trade agreement between the two nations, according to sources quoted in a report by The Economic Times.
BoI plans mega QIP in a return to capital markets for govt banks
In what will be the first time a state-run lender will do so in more than two years, Bank of India plans to raise Rs 1,000 crore by selling shares to institutional investors in February, according to sources in a report by LiveMint.