Business

Business

ICICI Bank postpones AGM by over a month

Controversy-hit private lender ICICI Bank has postponed its annual general meeting (AGM) to September 12, 2018 from the earlier scheduled August 10. "We wish to update that the change in AGM date and the consequent changes in record dates was necessitated due to the sequencing of general meeting dates within the listed entities of ICICI Group," the lender said in a BSE filing on Monday. The filing also detailed the "revised dates of book closure" between August 28, 2018 and September 12, 2018 (both days inclusive).

Business

LIC board okays 51% in IDBI bank

The board of state-run Life Insurance Corporation (LIC) on Monday approved the acquisition of up to 51 per cent stake in the government-owned IDBI Bank, Economic Affairs Secretary S.C. Garg said. Meanwhile, a source told IANS that the Board also asked the LIC Chairman to do little more due diligence on IDBI Bank. "Further the Board also asked the Chairman to satisfy the conditions laid down by the Insurance Regulatory and Development Authority of India (IRDAI) while approving the stake acquisition plan," the source added. Briefing reporters after the board meeting in New Delhi that lasted about two hours, Garg said the sale process is likely to take place through preferential shares.

Business

Modi shocked.. Inflation at 54-month high

Rise in the prices of manufactured products along with that of food articles and fuel types accelerated India's wholesale inflation rate to 5.77 per cent compared to 4.43 per cent in the previous month, official data showed on Monday.

Business

Milk crisis hits Mumbai..Prices may rise by Rs 5

Milk tankers were stopped today in several districts of Maharashtra by protesters demanding hike in procurement price, even as Chief Minister Devendra Fadnavis disapproved of the agitation. The agitators stopped milk tankers in various places and emptied them on roads as a mark of protest. Impact of the protest was also felt on the Amul dairy's collection centres at Vasai and Virar towns in the neighbouring Palghar district as the cooperative giant decided not to collect milk from farmers today. Amul is the single largest supplier of milk to Mumbai.

Business

Your calls are being recorded

Popular communication app Truecaller on Monday introduced a new "Call Recording" feature for its Android users globally.

Business

Inflation shock for PM Modi..Wholesale inflation jumps to 5.77

Inflation continues to be a thorn in the flesh of Narendra Modi governement. After rise in retail inflation, now the wholesale inflation seems to getting out of control. Rise in prices of manufactured products along with that of food articles and fuel types accelerated India's wholesale inflation rate at 5.77 per cent compared to 4.43 per cent in the previous month, official data showed on Monday

Business

No claimants for Rs 300 crore lying in India-linked dormant Swiss bank accounts

It is the third year since Swiss banks made public a list of accounts lying dormant without any trace of owners and no claimant has come forward for those with Indian links, even as a political slugfest continues in India over alleged black money parked there. The list of all such accounts -- of Swiss citizens and foreigners including from India -- was first published by the Switzerland Banking Ombudsman in December 2015 and it keeps getting updated as and when an account is declared dormant. This is to allow real owners of the accounts or their legal heirs to stake a claim with necessary proof.

Business

PM Modi dedicates Varanasi gas distribution project to the nation

Prime Minister Narendra Modi today dedicated to the nation the Varanasi City Gas Distribution (CGD) network which will supply environment friendly natural gas to the city's households, transport sector and industries.

Business

'Modi Govt has created economic mess'

Senior Congress leader P. Chidambaram on Friday slammed the government over its poor management of economy, saying inflation is at five-month high, industrial growth at five-month low and the trade deficit has soared.

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