SBI chief Bhattacharya earned Rs 2.37 cr less than ICICI Bank chief in FY17

Financial News SBI, one of the world’s 50 largest banks, pays only a small fraction to its top management as compared to private sector players like ICICI Bank and HDFC Bank. Former RBI governor Raghuram Rajan had flagged the low remuneration issue last August saying it makes difficult for state-owned banks to “attract top talent,… Continue reading SBI chief Bhattacharya earned Rs 2.37 cr less than ICICI Bank chief in FY17

IDFC Bank CFO Sunil Kakar appointed MD & CEO of IDFC Ltd, replaces Limaye

Financial News IDFC Bank CFO Sunil Kakar has been elevated to the post of Managing Director and Chief Executive Officer of parent company IDFC with effect from July 17 for three years. Kakar has also been appointed as additional director. Both the appointments are subject to shareholders’ approval at the annual general meeting (AGM). Kakar… Continue reading IDFC Bank CFO Sunil Kakar appointed MD & CEO of IDFC Ltd, replaces Limaye

Tap equity market: Govt tells 5 PSU banks

Financial News The central government has asked five state-owned banks to raise capital from the markets to meet their requirements for the fiscal year 2017-18. The Department of Financial Services has asked the relatively strong public sector banks (PSBs) — Canara Bank, Bank of Baroda (BoB), Indian Bank, Vijaya Bank, and Syndicate Bank — with… Continue reading Tap equity market: Govt tells 5 PSU banks

This Baahubali is like Clash of Clans, but with a desi twist

Financial News Ardent Baahubali fans might already have got the answer to arguably the most ubiquitous question of the past year – “Kattappa ne Baahubali ko kyon maara?’ – but that hardly seems to have tempered the excitement around the mythical story of Mahishmati. After the movie made its millions, now ‘Baahubali The Game’ is… Continue reading This Baahubali is like Clash of Clans, but with a desi twist

Brexit effect? RBS to cut over 400 UK jobs, plans to move them to India

Financial News British lender Royal Bank of Scotland said today that it is cutting 443 UK jobs dealing with business loans, and plans to shift many of the roles to India. The UK’s largest government-owned bank said it was moving the jobs, which help handle loans for small businesses, as part of an ongoing cost-cutting… Continue reading Brexit effect? RBS to cut over 400 UK jobs, plans to move them to India

RBI lifts restriction on foreign investment in IDFC

The Reserve Bank of India (RBI) has removed the restriction on foreign investment in IDFC Ltd after the shareholding of overseas investors fell below the prescribed level. “The foreign shareholding by foreign institutional investors/foreign portfolio investors in IDFC have gone below the prescribed FII/FPI investment limit. Hence, the restrictions placed on the purchase of shares… Continue reading RBI lifts restriction on foreign investment in IDFC

Govt loosens norms for auditor rotation at unlisted companies

The government has relaxed conditions for unlisted companies that do not have loans, from banks, financial institutions or deposits from the public, of more than Rs50 crore on rotation of auditors. Currently, these companies can’t appoint individual auditors for five consecutive years and auditor firms for two straight terms of five years, if their paid… Continue reading Govt loosens norms for auditor rotation at unlisted companies