Crisil has enhanced the debt instruments of ICICI Bank to ‘stable’ from ‘negative’ and said that the bank is expected to retain progress in earnings profile. Crisil said, “Crisil has revised its rating outlook on ICICI Bank upper tier II bonds and tier I perpetual bonds to stable from negative,” it said in a release.… Read More »
Reserve Bank of India has stated that the new directive introduced on cheque modifications is valid for cheque truncation system (CTS). Presently CTS is being used in the clearinghouse of RBI based in the National Capital Region (NCR). The clearinghouses in other regions use the MICR Code system for cheque clearing. This new directive does… Read More »
With hardly a few days remaining for base rate coming into play, banks are working hard on the implementation of the new system. Not even one bank has informed their base rate. The biggest lender in the country, State Bank of India was anticipated to take the lead in declaring the base rate for personal… Read More »
Rabobank, the Dutch bank has at least sold off its 11% stake in Yes Bank for a sum valued about Rs 980 crore. Now the bank holds 4.9% stake in the private sector bank as against its previous holding of 15.9%. It had to reduce its stake in order to meet the statutory conditions to… Read More »
China-based Beiqi Foton Motor Company, one of Asia’s biggest car companies, is searching for methods to enter India. An association with SpiceJet promoter Ajay Singh’s firm, Argentum Motors, is likely, for now. Beiqi Foton (or Foton) is the biggest light truck producer in China, with focus on heavy trucks and buses too.
German car manufacturer Volkswagen said it was thinking about the introduction of a car smaller than Polo in India to capture the fast-growing compact car sector in the country. Volkswagen Group’s India Communication Head Kurt Rippholz said, “Believe me, we will have something smaller than the Polo. We are working on it”. But he did… Read More »
Tata Technologies, the engineering and design arm of Tata Motors, has been chosen by US-based Genovation Cars to plan and develop a model of an electric car for it. The Maryland-based producer of environmentally friendly cars is involved in production and designing of battery-run, custom-designed cars for the US market, although on a very small… Read More »
Car manufacturer Mahindra and Mahindra (M&M), said it will be introducing a new sports utility vehicle (SUV) in the Indian market within a year’s time. Pawan Goenka, Mahindra and Mahindra’s Auto and Farm Equipment Sector’s President said, “We will be launching the vehicle in the first quarter of FY 12.
The government has cleared infusion of Rs 6,211 crore into 5 PSU banks, a step which will assist in lending an extra Rs 77,637 crore to different sectors of the economy. The banks to receive capital infusion include Union Bank of India, Bank of Maharashtra, IDBI Bank, UCO Bank and Central Bank India.
Japanese two-wheeler giant Suzuki has introduced its superbike GSX-R1000 costing Rs 12.75 lakh (Rs 1.28 million) (ex-showroom, Delhi) making it the most expensive product from the company’s group in India Suzuki Motorcycle India, the fully-owned associate of the Japanese giant, introduced another superbike