Thousands transferred at SBI, many branches closed, yet no protest

India’s largest lender, State Bank of India (SBI), has rationalised 716 offices (594 branches and 122 administrative offices) and several thousands of employees have been transferred beginning this fiscal, but, strangely, there have been no major protests, top officials said. Several hundreds of offices would be closed and thousands of staff would be moved in… Continue reading Thousands transferred at SBI, many branches closed, yet no protest

From teacher to leader: Rise and rise of Ramdev and his ‘swadeshi’ Patanjali empire

In this age of digital disruption, one would have least expected a yoga guru with no formal education to shake the roots of established FMGC majors using a brick & mortar model, forcing them to rethink on their strategies. It’s intriguing as to how Patanjali managed to achieve so much in such a short time,… Continue reading From teacher to leader: Rise and rise of Ramdev and his ‘swadeshi’ Patanjali empire

Jio’s free phone will hit telecom, erode revenues of competitors: Voda to DoT

The country’s second largest telecom player Vodafone expects Jio’s ‘effective free phone’ with unlimited calling to erode operators’ revenues which are already under pressure and sought reduction in various levies imposed by the government as a breather to the industry. “…The new operator continues to aggressively under- price its services, including announcing launch of ‘Effective… Continue reading Jio’s free phone will hit telecom, erode revenues of competitors: Voda to DoT

Note ban attacked black money, raised tax base: PM in I-Day speech

Prime Minister Narendra Modi, from the ramparts of the Red Fort, rolled out statistics to defend demonetisation, while skipping mention of a lower dividend by the Reserve Bank of India (RBI) as a pitfall of this move. In his Independence Day speech, Modi implicitly took on critics for blaming his government for not generating jobs,… Continue reading Note ban attacked black money, raised tax base: PM in I-Day speech

Sansui Horizon 2: One that easily fits your budget

After the successful launch of Sansui Horizon 1 smartphones, the company introduced its second version, Sansui Horizon 2 in May this year. The Japanese company that is slowly and steadily making its place in the Indian smartphone market, comes up with a fully Made in India Horizon 2 model. Horizon 2 is only a bit… Continue reading Sansui Horizon 2: One that easily fits your budget

RBI allays concerns on note quality

The Reserve Bank of India (RBI) on Friday said that it maintained the quality of bank notes “well within the various tolerance parameters for dimension, placement of design, print features, etc,” and that its currency printing presses were state-of-the-art and well-documented. The RBI’s clarification came after the opposition Congress alleged that the RBI was printing… Continue reading RBI allays concerns on note quality

ICICI Bank to raise Rs 10,000 crore via bonds

I CICI Bank plans to raise up to Rs 10,000 crore via tier-1 bonds for its capital base and business growth. Rating agency ICRA has assigned an ‘AA+ (hybrid)’ rating to the proposed offering of the private bank. It is described as a hybrid subordinated instrument, with equity-like loss-absorption features. The distributable reserves that can… Continue reading ICICI Bank to raise Rs 10,000 crore via bonds