The corporate affairs ministry's decision to exempt such deals from the ambit of the Competition Commission of India (CCI) comes against the backdrop of the proposed consolidation and stake purchases among state-owned oil and gas companies.
Banking sector during the week saw more of disappointing news of job cuts, bad loans and NPA divergences raising questions on bank auditors. Further public sector banks reported losses due to rise in bad loans
While it is common for companies not to unveil divestitures during merger announcements, T-Mobile's and Sprint's approach shows that the companies plan to enter what could be challenging negotiations with U.S. antitrust and telecommunications regulators without having made prior concessions.
RBI had pulled up Religare Finvest for outstanding loans of Rs 1,156 crore to entities given under the "influence of its promoters", flouting lending guidelines and corporate governance norms
The Bank’s board members will meet on Saturday, October 14, and most likely announce the merger deal with Bharat Financial
Customers can apply for the new SBI cheque books at their home branches, all SBI ATMs or through Internet banking and Mobile Banking.
The Reserve Bank also initiated a few other measures to improve policy interest rate transmission, on banking regulation and supervision and measures to improve financial and securities markets
"Cabinet approves rationalisation/merger and modernisation of 17 Government of India Presses (GIPs) into 5 GIPs at Rashtrapati Bhawan, Minto Road and Mayapuri in New Delhi, Nashik in Maharashtra and Temple Street in Kolkata," an official statement said.
IndusInd Bank has signed an exclusive agreement with micro-finance lender Bharat Financial Inclusion to explore a possible merger.
The government has invited applications for transaction advisor and legal advisor for the strategic sale of government’s stake in Hindustan Petroleum Corporation Limited.
Government is looking at merging some of the 21 public sector banks to create 10-12 banks in the medium term. As part of a three-tier structure, it plans to build at least 3-4 banks of the size of SBI.
Both tax consultancy firms BMR and Deloitte refused to comment on the proposed merger.
Axis Bank’s gross bad loans have jumped the steepest in the industry by over 350 percent in the last five quarters.
In case you missed it, here's all that happened in the banking sector in the week gone by.
Snapdeal's largest investor, SoftBank has been proactively mediating the sale for the past few months.
Flipkart was reported to be looking to buy Snapdeal for a much lower valuation of USD 400, than USD 1 billion that has so far been touted.
In an interview to CNBC-TV18, Prayesh Jain, AVP-Research at IIFL spoke about Reliance Industries at length.
In an interview to CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank spoke briefly about the finance ministry report on bank mergers.
Airtel further stated that Telenor and Airtel have filed on Thursday the joint company application before the New Delhi Bench of National Company Law Tribunal (NCLT) for the approval of the proposed scheme of merger.
A preliminary inquiry was registered to probe the merger of Indian Airlines and Air India, leading to a loss of crores of Rupees.
With more employees joining its fold after the merger with its subsidiaries, State Bank of India (SBI), country’s largest bank, has planned to reduce hiring in this financial year.
From interest rate reduction on home loans to being charged for ATM withdrawal for wallet and no-frills account users to capital raising and merger talk of banks and some smaller public sector bank results where bad loans continued to grow, all happened in the second week of May.
In an interview to CNBC-TV18, Rakesh Arora, Managing Partner at Go India Advisors said that ACC-Ambuja Cements merger is positive for shareholders.