EESL to invest £100 million in UK over next 3 years
EESL MD Saurabh Kumar says the firm has decided to invest £100 million over the next three year in UK and he estimates an annual revenue of £20-25 million after…
Trai to look into Reliance Jio complaints about customised retention offers
Reliance Jio had complained to Trai that customised retention offers by rival telcos are unfair and deceptive, and claimed that the offers are not available to general public Source: Livemint.com…
RBI advises PSBs to have fair system for branch auditor appointments
The Reserve Bank of India has advised public sector banks to put in place a fair and transparent mechanism for appointment of statutory branch auditors Source: Livemint.com (http://www.livemint.com/rss/industry)
India’s green car plan prioritises electric vehicles over hybrids
The recommendations in a draft report by Niti Aayog, are aimed at electrifying all vehicles in the country by 2032 and will likely shape a new mobility policy Source: Livemint.com…
Irdai issues new outsourcing guidelines for insurers
The new Irdai regulations ban insurers from outsourcing investments and related functions to third parties, apart from not allowing fund management, including NAV calculations Source: Livemint.com (http://www.livemint.com/rss/industry)
PayPal accused in suit of crucial role in massive ponzi scam
The investors suing PayPal say the company served as the payment processor for about $134 million in investments in Traffic Monsoon, they’re seeking at least $5 million in damages Source:…
Bad debt situation not that grim, recovery hopes intact: Arundhati Bhattacharya
SBI chief Arundhati Bhattacharya says most of the bad loans belong to industries that are still in business and banks will probably recover the write-downs when growth turns up and…
H1B visas: US labour dept seeks legislative change in wage structure to prevent abuse
US labour department is seeking a legislative change in 4-tiered wage structure to take stronger action against firms using H1B visas to replace American employees with foreign workers Source: Livemint.com…
RBI issues norms to hasten stressed asset resolutions via joint lender forums
RBI has slashed the minimum votes required in a joint lender forum, or JLF, to reach a decision Source: Livemint.com (http://www.livemint.com/rss/industry)
Onus on RBI as govt notifies new rules to tackle NPAs of banks
The ordinance to amend Banking Regulation Act is being seen as the first step in towards putting the onus on RBI to reduce NPAs with banks Source: Livemint.com (http://www.livemint.com/rss/industry)