Business

ICICI Bank is a good bank, says Goyal

ICICI Bank is a good bank, says Goyal

‘Stakeholders need not have concerns’ Finance minister Piyush Goyal has termed controversy-hit ICICI Bank as a ‘good bank’, even as a government nominee on the board of the bank continues to abstain from board meetings. “ICICI Bank is a good bank, it has robust processes,” Mr. Goyal said in an …

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IMF welcomes RBI decision to hike interest rates

IMF welcomes RBI decision to hike interest rates

The repo rate was increased by 25 basis points to 6.25 per cent The International Monetary Fund (IMF) on Friday welcomed the decision of the Reserve Bank of India (RBI) to increase the repo rate by 25 basis points to 6.25 per cent. “We welcome the Reserve Bank of India’s decision to …

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FDI in India rises to $61.96 bn in 2017-18: Govt

FDI in India rises to $61.96 bn in 2017-18: Govt

FDI inflows stood at $60 billion in the previous fiscal. Foreign direct investment in India increased to $61.96 billion in 2017-18, DIPP Secretary Ramesh Abhishek said on Friday. FDI inflows stood at $60 billion in the previous fiscal. He also said during the four years of the Modi government, foreign …

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Azim Premji’s younger son Tariq joins Wipro Enterprises board

Azim Premji’s younger son Tariq joins Wipro Enterprises board

Tariq Premji as a non-executive Director on the board of the company Tariq Premji (40) the younger son of billionaire Azim Premji, has been appointed to the board of Wipro Enterprises as a non-executive director, according to a company statement. “Wipro Enterprises (P) Limited has appointed Mr. Tariq Premji as …

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China’s ‘green’ issues boost India’s FY18 chemical exports

China’s ‘green’ issues boost India’s FY18 chemical exports

Shipments rose 32% to $15.91 billion China’s decision to shutter several chemical manufacturing units to rein in air pollution and protect the environment has helped Indian chemical exports grow 31.94% to $15.91 billion in 2017-18, a top industry representative has said. “Indian [chemical] industry has been revived,” said Satish Wagh, …

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CavinKare plans public offer by 2020, eyes acquisitions

CavinKare plans public offer by 2020, eyes acquisitions

Targets ₹2,000-crore revenue this year; props salon division for subsequent IPO Fast-moving consumer goods company CavinKare Pvt. Ltd. is planning a public offering of its shares fior sale n a year or two, said a top executive. “We are planning to go public,” said C.K. Ranganathan, CMD, CavinKare. “It might …

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RBI hikes repo rate by 25 basis points to 6.25%

RBI hikes repo rate by 25 basis points to 6.25%

The RBI raises rates after 4.5 years as crude price surges The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Wednesday increased the repo rate by 25 basis points to 6.25%. The MPC arrived at the unanimous decision as the outlook for inflation had become …

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Co-op banks can become small finance banks, says RBI

Co-op banks can become small finance banks, says RBI

Banks allowed 4 quarters to spread MTM losses accruing in April-June quarter The Reserve Bank of India has decided to allow urban co-operative banks (UCB) to convert into small finance banks (SFB), a move aimed at bringing these entities into mainstream banking. “It has been decided to allow voluntary transition …

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‘Users prefer chatting with a bot as it stays truthful’

‘Users prefer chatting with a bot as it stays truthful’

AI systems are shorn of bias common to humans: Menon Avaamo, a firm specialising in conversational interfaces using artificial intelligence, had recently raised $14.2 million in a round led by Intel Capital, with investment from Ericsson Ventures, Mahindra Partners, Wipro Ventures and WI Harper. Its platform allows companies to use …

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