Public Sector

To date, the company counts several central government entities and multiple state government bodies as customers using products like Freshdesk and Freshservice, like the Pension Fund Regulatory and Development Authority (PFRDA).

Govt to infuse more capital in public sector general insurers next year

The government last year provided Rs 5,000 crore capital to three insurers --National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company.

Indian Overseas Bank launches electronic bank guarantee scheme

The e-BG is an instrument issued by the city-headquartered bank in which the bank undertakes to guarantee a specific amount against the non-fulfillment of some action/performance of the applicant.

UK PM Sunak stands firm amid serial strike action

Sunak was firm on his inflation busting message as he was grilled by cross-party MPs of the Liaison Committee, in charge of scrutiny of the government, as state-funded National Health Service (NHS) nurses were undertaking a second day of strike demanding better pay and working conditions.

UCO Bank Q2 net rises 145% at Rs 504.52 crore

The Kolkata-based lender said in a regulatory filing that the operating profit of the bank during the quarter decreased to Rs 1,190 crore as compared to Rs 1,334.2 crore in the previous similar period.

Coal India hopes to reach close to its production target of 306 million tonnes in first half of FY23

”At the current pace of production…the company is hopeful of reaching close to the apportioned H1 target of 306 MT,” CIL said. Of the total production target of 700 MT for FY23, the output split is around 44 per cent in the first half and 56 per cent in the second half, the company said in a statement.

Government to retain up to 4 CPSEs in a strategic sector, to privatise others

This will be part of a new coherent Public Sector Enterprises Policy to be formulated to push reforms in central public sector enterprises (CPSEs), Finance Minister Nirmala Sitharaman told reporters

Heads of Exim Bank, IFCI, 2 others to be appointed by mid-July

The finance ministry has already concluded interviews of 32 candidate for the post of managing directors. The shortlisted names will soon be sent to Appointments Committee of Cabinet.

Indian Bank revises interest rates

For FCNR(B) deposits, in USD terms, the revised interest rate has been fixed at 2.40 percent for deposits of one year and above, but less than two years from 2.33 percent.

NGT asks oil companies to stop plying BS-I, BS-II vehicles in NCR

A bench headed by NGT Chairperson Justice Swatanter Kumar ordered Indian Oil Corporation Limited, Bharat Petroleum Corporation Ltd and Hindustan Petroleum to immediately ban such vehicles.

Andhra Bank to get capital infusion of Rs 1,100 cr from govt

The bank will put up the matter at its board meeting for consideration, Andhra Bank said in a stock exchange filing.

Syndicate Bank to auction GVK's land bank to recover dues

Public sector lender Syndicate Bank has put up land bank owned by GVK Group in GVK Perambalur SEZ Pvt Ltd in Tamil Nadu for sale as part of recovery of its outstanding loan of Rs 175 crore.

PNB raises Rs 1,500 cr tier-I capital via bonds

Public sector Punjab National Bank (PNB) has raised Rs 1,500 crore additional tier-I capital by issuing bonds on private placement basis.

Nalco plans to augment cast metal output by 12% in FY18

"With the aluminium market firming up, the Navaratna PSU foresees sunny days ahead and plans to increase cast metal production by 12 percent in the next fiscal," National Aluminium Company Ltd (Nalco) said.

LIC to hold media briefing on Q3 show -- a first for the insurer

To reinstate its presence as the dominant insurer and largest institutional investor in the Indian market, life insurance behemoth - Life Insurance Corporation - will, for the first time in its six-decades history in the country, hold a press conference today to announce its quarterly results.

M K Bhattacharya joins Indian Bank as ED

Public sector Indian Bank today announced the appointment of M K Bhattacharya as its Executive Director with immediate effect.

Oriental Bank ties up with Chola MS to sell insurance products

Chola MS will offer a wide range of non-life insurance products to customers of Oriental Bank of Commerce through its branches.

M K Bhattacharya takes over as Indian Bank, ED

Public sector Indian Bank today announced the appointment of M K Bhattacharya as its Executive Director with immediate effect.

NLC India to buyback over 15 crore shares worth Rs 1,491 cr

In the draft letter of offer, the company said: "Cash offer for buyback of not exceeding 15.06 crore fully paid-up equity shares...representing 8.98 per cent of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the company...from all the existing shareholders... through the 'tender offer' process."

HLL signs pact with Maha Govt to set up diagnostic labs

The agreement was signed by R P Khandelwal, CMD, HLL, Dr. Pradeep Vyas, Commissioner and MD, SHS, and Dr Sathish Pawar, Director of Health Services), in Mumbai the other day.

Budget 2017: New diversified CPSE ETF coming soon; will it be worth the wait?

A more diversified CPSE ETF should provide plenty of wealth creation and value unlocking opportunities for retail investors, experts say.

SBT net loss touches Rs 67.76 crore in Q3

Net NPA stood at 8.03 percent as on December 31 2016. The Operating Profit stood at Rs 440.74 crore for the quarter. SBT had recorded an Operating Profit of Rs 1360.03 crore for the nine month period ending December 2016 as against Rs 1250.86 crore for the same period of the previous year, showing a YoY growth of 8.73 percent.

S&P says Rs 10K-cr very little for banks recapitalisation

Global rating agency S&P today said the Budget announcement to infuse Rs 10,000 crore into public sector banks is highly insufficient and the lack of capital may delay the clean-up of their balance sheets.

Budget 2017: Nilesh Shah says FM must take risks, ease fiscal tightening plan

With just 2 more years at the government‘s disposal to reinforce growth, Nilesh Shah, MD & CEO of Envision Capital hopes it does not stick to the path of fiscal consolidation in the upcoming Budget. It is worth taking the risk and providing incentives to bolster investment and consumption, he says in an interview to CNBC-TV18.