Free Press Journal
  • Centre set to merge BoB, Dena and Vijaya Bank

    New Delhi : The government on Monday said state-owned Bank of Baroda (BoB), Vijaya Bank and Dena Bank will be merged to create the country’s third-largest lender as part of efforts to revive credit and economic growth.

  • Deadline for imposing tariffs on US products likely to be extended

    New Delhi : The government will further extend the deadline for the imposition of higher customs duties on 29 products, including almond, walnut and pulses, imported from the US, a senior official said on Monday. In June, India decided to impose retaliatory tariffs from August 4. But it was extended by another 45 days till September 18.

  • ArcelorMittal backtracks after accusing Vedanta of eco lapses

    New Delhi : ArcelorMittal, which is locked in a three-way fight for the acquisition of Essar Steel, first wrote a letter targeting rival bidder Vedanta over its alleged violation of environmental law and human rights but shortly thereafter withdrew the letter. ArcelorMittal on September 15 wrote a letter on “facts” in relation to alleged “environmental law violations committed in India and Zambia, illegal mining, disregard for safety standards and human rights violations”

  • Share buyback norms revised

    NEW DELHI: Sebi has revised the regulations for share buyback to provide more clarity on the requirement to make public announcements.

  • Settlement rules to be more attractive

    NEW DELHI: The Sebi is planning to make its settlement rules more attractive to help fast-track cases including by offering confidentiality and lenient terms for approvers but would not settle cases of wilful defaulters and fugitive economic offenders. The settlement payment would need to be paid by top executives or directors responsible for default in case of companies seeking to settle a matter, as penalising the company may amount to making its

  • Govt may take steps to curb gold imports

    New Delhi : The government is likely to take certain policy measures to curb high gold imports instead of raising customs duty on the precious metal, sources said.

  • Markets, rupee falling due to global factors: Finance Minister Arun Jaitley

    New Delhi: As the rupee weakened against the US dollar and markets closed deep in the red on Monday despite a series of measures announced by the government over the weekend, Finance Minister Arun Jaitley said it was due to global phenomena occurring owing to squeeze on oil production and the US-China trade war.

  • Adani Capital to raise Rs 1,000 crore in growth capital in FY19

    Mumbai: Adani Capital, the financial services arm of diversified Adani group, is planning to raise around Rs 1,000 crore in debt, mostly in bank loans, this financial year to fund growth. The company began operations as an NBFC in April 2017 with a focus on MSME and corporate finance. The MSME finance mainly includes business loans, farm sector finance, commercial vehicle loans and supply chain finance, while in corporate finance, it mainly operates

  • Bank of Baroda, Dena Bank, Vijaya Bank to merge to create the country’s third largest lender

    New Delhi: The government Monday said state-owned Bank of Baroda, Vijaya Bank and Dena Bank will be merged to create the country’s third largest lender as part of efforts to revive credit and economic growth. The move follows top lender State Bank of India last year merging with itself five of its subsidiary banks and taking over Bharatiya Mahila Bank, a niche state-run lender for women. Announcing the plan, Finance Minister Arun Jaitley said the merger will make

  • Mother Dairy won’t cut prices despite Patanjali’s cheaper cow milk

    New Delhi: Unfazed by the introduction of cheaper packaged cow milk by new entrant Patanjali group, market leader Mother Dairy Monday said the company will not reduce prices to match competition. Mother Dairy, which sells around 7 lakh litres of cow milk per day largely in Delhi-NCR market, also expressed confidence that its sales volume will not be affected with more players entering in this segment.