Business, Companies, 13th May 2019, News & Stories from India

Friday, Apr 19, 2024 | Last Update : 06:02 PM IST

Business Companies 13 May 2019

Business, Companies, 13 May 2019

According to ED, accused Mohit Garg, Nitin Gupta, and Rajeev Singh Kushwaha used to collect demonetised form of currency from different persons and deposited them into the account of shell firms/ companies operated by Rajeev Singh Kushwaha.

ED attaches property worth over Rs 2 crore in Axis Bank demonetisation case

According to officials Mohit Garg and Rajeev Singh Kushwaha illegally earned a commission at 15 pc of total amount deposited.

13 May 2019 7:51 PM

NABARD has been contributing to other funds till now and this is the first time that the rural development bank has launched a fund of its own.

Nabard announces Rs 700-cr VC fund for agri, rural startups

The fund has been launched by Nabventures, a subsidiary of NABARD, and has a proposed corpus of Rs 500 crore.

13 May 2019 6:46 PM

ITC on Monday announced elevation of its MD Sanjiv Puri as the Chairman and Managing Director of the company.

ITC Q4 net profit rises 18.72 pc to Rs 3,481.9 crore; Sanjiv Puri is new Chairman

Shares of ITC closed 3.09 per cent down at Rs 288.50 on the BSE.

13 May 2019 4:41 PM

According to sources close to the development, the investigation has been going on for almost a fortnight and some employees have also been fired.

EY probes cashback fraud at Paytm Mall, to build tech-driven prevention system

Some employees Paytm allegedly worked with third-party vendors and created fake orders to siphon off cashback offers.

13 May 2019 4:16 PM

The marginal cost of funds-based lending rate (MCLR) for one-year loan has been reduced to 8.60 per cent from 8.65 per cent effective May 14, Allahabad Bank said in a BSE filing.

Allahabad Bank cuts lending rate by 5 bps

Most of the loans including housing loans are benchmarked against MCLR for one year.

13 May 2019 2:38 PM

The member unions of Amul plan to enhance the milk processing capacity from the current level of 350 lakh litre per day to 380400 lakh litre per day in the next two years.

Amul expects revenue to grow by 20 per cent to Rs 40,000 cr in 2019-20

GCMMF posted 13 per cent increase in its turnover at Rs 33,150 crore during 2018-19 from Rs 29,225 crore.

13 May 2019 2:03 PM

The company had reported a net profit of Rs 2,257 crore in the January-March quarter of the previous fiscal.

HDFC Q4 profits rises 27 per cent to Rs 2,862 crore

Total income during the quarter rose to Rs 11,586.58 crore as against Rs 9,322.36 crore.

13 May 2019 1:33 PM

Infosys Foundation chairperson Sudha Murty.

Home Ministry cancels registration of Infosys Foundation

Registration cancelled for alleged violation of norms in receiving foreign grants said officials,

13 May 2019 1:31 PM

Jet Airways and SBI were not immediately available for comments.

Jet Airways slumps after reports of Etihad's non-binding offer

Etihad wanted a commitment from banks on additional loans once it infuses equity into the company.

13 May 2019 11:02 AM

Mastercard already started saving data at servers in India from October last year.

De-duplication of Indian consumer data to complete by year-end: Mastercard

The moves comes in the backdrop of the regulator RBI asking such payment technology firms to comply with data localisation norms.

13 May 2019 10:41 AM

1 of 1

Columns

Mohan Guruswamy