NEW DELHI - ICICI Bank topped the list of banks that witnessed most number of frauds during April-December period of 2016 with state-owned SBI taking the second spot, RBI data said. During the first nine months of the current fiscal, as many as 455 fraud cases involving Rs 1 lakh and above were detected in ICICI Bank, closely followed by SBI (429), Standard Chartered (244) and HDFC Bank (237). The other banks which reported...
NEW DELHI - The central government has asked all statutory 4,041 urban local bodies to shift to e-payments at the earliest, an official said on Sunday. The Urban Development Ministry said these cities and towns account for about 75 per cent of the total 40 crore urban population in the country, according to a communique from the ministry .The government's message to the officials of these urban local bodies was conveyed by Rajiv Gauba,
MUMBAI - Tata Steel on Friday elected former banker O.P. Bhatt as Chairman of its board, and said it will pursue the removal of former chair Cyrus Mistry as a director on the board. In a regulatory filing with the BSE, the company said that its board of directors through a circular resolution passed by majority consent elected Bhatt as the Chairman of its board. "The board of directors through circular resolutions dated November 25, 2016,
MUMBAI - In a surprise move, industrial conglomerate Tata Sons on Monday replaced Cyrus P. Mistry as its Chairman and named Ratan Tata as the interim chairman of the company. The decision was taken at the company's board meeting, a statement said here. A committee has been formed to select the next chairman within four months. "The committee comprises Ratan N. Tata, Venu Srinivasan, Amit Chandra,
NEW DELHI: E-commerce giant Amazon has launched 'Global Store' in India that will allow its customers here to buy products sold on the US website and pay in local currency. The move will give customers in India access to over 4 million products from international brands and help Amazon compete more aggressively against domestic rival Flipkart in the booming Indian e-commerce market.
NEW DELHI: World's largest retailer Walmart is said to be in advanced discussions to invest USD 1 billion for a minority stake in e-commerce major Flipkart, a move aimed at taking on their common rival Amazon in India. Walmart and Flipkart are in discussions for forging an alliance, sources close to the development said. Walmart in an emailed statement said: "As a policy, we do not comment on speculative reports."
NEW DELHI - With a focus on tech-savvy consumers who need compact machines with on-the-go printing features, HP Inc. on Monday unveiled world's smallest 3700 all-in-one printer series which offers easy printing from a smartphone or tablet. Available for 7,176, the three printers in the HP DeskJet Ink Advantage 3700 All-in-One series will be available in the market from September 26.
HYDERABAD - The US issued more than a million visas this year in India which also accounts for 72 percent of all H1B visas issued worldwide, said a top US official on Friday. While vast majority of travelers to the US are traveling on tourist and short term business visas, India is also the largest beneficiary of H1B visas. "Beyond tourism and short term business travelers, the US welcome travel by skilled Indian workers. India is the largest beneficiary...
PANAJI - McDonald's will invest Rs 700-750 crore over the next few years to expand its chain in India, especially in emerging cities and towns, a senior company official said on Monday. The global fastfood chain's vegetarian menu, specifically designed for India, has also found takers in Singapore and the Middle East, Ranjith Paliat, Vice-President, business operations, McDonald's India (West and South), said. He said Indian food items...
MUMBAI - Ending months of suspense, Reserve Bank of India (RBI) Governor Raghuram Govind Rajan formally told his colleagues on Saturday that he is not keen on a second term at the helm of the country's central bank and will return to academia when his tenure ends in September. Soon after, Finance Minister Arun Jaitley, while appreciating Rajan's role, said a successor will be named soon. Rajan's decision was conveyed in an...