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Carlyle and Advent gets conditional approval by the RBI to acquire 9.99% stake in Yes Bank.

Carlyle and Advent gets conditional approval  by the RBI to acquire 9.99% stake in Yes Bank.

Private equity investors Carlyle Group and Advent have received conditional approval from the Reserve Bank of India (RBI) to each purchase a 9.99% stake in Yes Bank. Both private equity investors will infuse Rs 8,898.4 crore in combination with...

RBI warns banks against frauds in a/cs linked to direct benefit transfer

RBI warns banks against frauds in a/cs linked to direct benefit transfer

Banks have been warned by the Reserve Bank of India (RBI) against rising incidences of fraud in accounts related to the government's direct benefit transfer (DBT) programme and instructed to increase their vigilance and implement more rigorous...

SBI cards leads HDFC Bank in incremental card issuances

SBI cards leads HDFC Bank in incremental card issuances

In terms of additional card issuances during the holiday month of October, SBI Cards has surpassed HDFC Bank. In terms of new credit card additions in October, HDFC Bank, the nation's segment leader, fell to fourth place with fewer than...

Govt launches scheme to procure 4,500 MW electricity

Govt launches scheme to procure 4,500 MW electricity

The Power Ministry has launched a scheme for procurement of 4,500 MW of aggregate electricity for a period of five years. The provision of procurement of electricity would be conducted under the ministry's Scheme for Harnessing and...

Govt clarifies no PSU norms for IDBI Bank after stake sale

Govt clarifies no PSU norms for IDBI Bank after stake sale

The government has made it clear that after its proposed stake sale, IDBI Bank will not be subject to the regulations that apply to state-run businesses. According to the statement made in response to pre-expression of interest (EoI) questions, it...

Do You Need Car Insurance to Drive Someone Else's Car?

Do You Need Car Insurance to Drive Someone Else's Car?

Not all of us have a car. And the people who do not own a vehicle do not need to spend thousands of dollars on auto insurance policies. Yet, they need to drive a car. Borrowing someone's car works, but what about car insurance? Do you need...

HDFC Bank promotes Kaizad Bharucha as Deputy MD

HDFC Bank promotes Kaizad Bharucha as Deputy MD

Kaizad Bharucha has been named as the deputy managing director, according to HDFC Bank. The bank's executive director at the moment is Bharucha. The bank also announced in an exchange filing that Bhavesh Zaveri has been named executive...

Startup applications launched for registration on MAARG Portal

Startup applications launched for registration on MAARG Portal

Aiming to strengthen the startup ecosystem in the country, the Department for Promotion of Industry and Internal Trade (DPIIT) has launched a call for startup applications for registration on the MAARG portal, the National Mentorship Platform by...

Tax collections to cross budget estimates in current fiscal, says government

Tax collections to cross budget estimates in current fiscal, says government

Domestic tax collections will exceed the budget estimate by nearly Rs 4 lakh crore in the current fiscal owing to higher income tax, customs duty, and GST collections, the government said on Wednesday. Revenue Secretary Tarun Bajaj was quoted...

TRAI notifies amendments to Regulatory Framework for Broadcasting and Cable Services

TRAI notifies amendments to Regulatory Framework for Broadcasting and Cable Services

The Telecom Regulatory Authority of India (TRAI) issued the Telecommunication (Broadcasting and Cable) Services Tariff (Third Amendment) Order, 2022 and the Telecommunication (Broadcasting and Cable) Services Interconnection (Fourth Amendment)...

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