Category: Business

Karur Vysya Bank MD & CEO B. Ramesh Babu Karur Vysya Bank Ltd. (KVB) has entered into a pact with SBI Life Insurance to market the latter’s insurance schemes through its branches. KVB is a major player in the South with strong presence in urban, semi-urban and rural locations. SBI Life Insurance would leverage the […]

The bio-refinery with bamboo biomass as feedstock, being implemented by Numaligarh Refinery (NRL) in partnership with two European firms, is expected to be commissioned by 2023. On commissioning, the joint venture would produce 49,000 tonnes of ethanol and other chemicals thus contributing to India’s objective of achieving 20% ethanol blending in petrol by 2025. The […]

Both houses of Parliament cleared the Competition (Amendment) Bill, 2023, on Monday, paving the way for the government to enact some significant changes to the country’s antitrust regime, including swifter clearances for mergers and acquisitions (M&As).  The amended law also mandates that firms penalised by the Competition Commission of India (CCI) must fork out at […]

Indian Oil Corporation’s refineries achieved 72.4 million tonnes (mt) throughput, the highest ever, in 2022-23, while the State-owned oil major clocked about 14% increase in POL sales year-on-year. In the previous fiscal, the refineries had clocked 67.67 mt. Market share in petroleum products, of the State-owned oil major, increased to 42.9% in 2022-23 as against […]

Standard Chartered Bank said it has successfully closed an operating lease of five new Boeing 737 MAX 8 aircraft with India’s private carrier Akasa Air. The deal was structured, financed and arranged exclusively by Standard Chartered Aviation Finance. The first four aircraft (MAX 8) were delivered between December 2022 and March 2023 and the fifth aircraft is […]

The Centre should formulate a regulatory framework with broad consultations in order to ensure no one monopolises the emerging field of Artificial Intelligence, and also to avert job losses and crippling of the nation’s economy, Sridhar Vembu, chief executive officer and co-founder of Zoho Corporation, has said. “Like the powerlooms destroyed the traditional weavers, AI […]

Cars meant for export parked at Kamarajar Port Ltd. Chennai Port Authority (ChPA) and the Kamarajar Port Ltd. (KPL) recorded a 24% year-on-year increase in car exports during FY23, a top official said. The ports exported 3.8 lakh cars during FY23 against 3.06 lakh units in the year-earlier period. While ChPA’s car exports climbed 36%, […]

The Government India has been proactively engaging with prominent global credit rating agencies to improve India’s sovereign credit rating, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday. Responding to a query on the country’s creditworthiness raised by six MPs, who also sought to know outcomes of any recent meetings held […]

IRB Infrastructure Trust, a privately-placed InvIT sponsored by IRB Infrastructure Developers Ltd. with investment from the GIC Affiliate, on Monday listed on the NSE. At a meeting held on March 22, MMK Toll Road Pvt. Ltd, an investment manager to the trust, had approved the listing of the trust’s units on the NSE. Virendra D. […]

With the Indian units of American automobile major General Motors and Korean Hyundai Motor initiating steps for smooth transfer of the former’s closed down car manufacturing unit at Talegaon to the latter, more than 1,000 laid off GM workers have sought to be part of the proposed transfer deal. Hyundai Motor India on March 13 […]