Ashok Leyland launches VRS for executive cadre; 5,700 employees eligible
NV Balachandar, president, HR, CSR and communication, ALL, told FE the objective of the VRS is to scale down the team, bring in efficiency and ensure executives do more value-added work.
Apollo Hospitals eyes inorganic growth, looking for acquisitions in east and north
The move comes close on the heels of the buyout of 50% equity stake held by IHH Healthcare (IHH), in Apollo Gleneagles Hospital, Kolkata (AGHL), a joint venture (JV) in which Apollo Hospitals group was holding a 50% equity st
Commotion at Lakshmi Vilas Bank branches as customers throng to withdraw money
Many of the depositors could not withdraw money due to technical glitches and were told that the software was still to be re-calibrated to meet the curtailed withdrawal norms.
NBFCs would have seen collection efficiencies beyond 95% in October: Analysts
Many NBFCs like Cholamandalam Investment and Finance, Shriram Transport Finance and Shriram City Union Finance have done well on the collection front, especially after the lifting of the moratorium by August 31, thanks to the
Lakshmi Vilas Bank for deal with Clix without compromising on its core interest
The bank said last week that a minor incremental due diligence which was requested by Clix Group had been completed and both the sides were in the process of finding a workable and mutually acceptable framework.
H2 FY21 will bring much-needed growth for CV makers: Ashok Leyland
Mahadevan says that as demand grows, plant utilisation will also increase. When that happens, not only the volume performance, but the operational performance of the company will also improve.
City Union Bank to focus on ECLGS, gold loans for now
After the moratorium period, accounts covering exposure of 94.53% to cash credit accounts (CC a/cs) or short-term loans and 85.70% to term loan accounts, totalling 90.52% of exposure, received payments.
Google secures Indian patent for auto-expanded language search
Under the invention, the volume of searched content gets expanded by including content written in different languages thereby potentially presenting a user with more relevant search results.
TVS Motor Company plans to improve capex to Rs 500 crore in FY21
The Chennai-based two-wheeler and three-wheeler major is also looking at investing Rs 40 crore in its recently-acquired Britain's legacy brand Norton and around Rs 50 crore in TVS Credit Service, its lending arm.
Lakshmi Vilas Bank to send two more names to RBI for top post, favours local CEO
On the rights issue, Sinha said the bank is readying all the papers. “Our merchant banker is on the job and will come back with its recommendations. Following that, we will decide on the ratio and the amount.”
Tube Investments sees CG Power hitting revenue of Rs 5k crore in five years
Tube Investments of India (TII) believes that over a period of five years, it will be able to turnaround CG Power and Industrial Solutions — a company they are in the process of acquiring — to a Rs 5,000 crore top-line ea
EarthFokus: IIT-Madras incubated venture designs and manufactures water saver
This IIT-Madras incubated venture designs and manufactures water savers that can save more than 95% of water from your existing tap
Co-origination game-changer for NBFCs, HFCs: ShriramCity
Shriram City Union Finance (ShriramCity) has said the Reserve Bank of India (RBI)’s renewed thrust on co-origination of loans can be a game-changer for both non-banking financial companies (NBFCs) and housing finance compan
Blue Star to float separate company to run upcoming Sri City plant in Andhra Pradesh
Thiagarajan said the company has achieved 80 to 90% production of pre-Covid levels currently. By fourth quarter he hopes to touch 100% of pre-Covid levels or even achieving 5 to 10% growth over the normal level.
IPAB quashes revocation of Novartis patent for anti-cancer drug Ceritinib
Natco filed a post-grant opposition against the patent on September 26, 2017, on grounds of obviousness and lack of inventive step.
Lakshmi Vilas Bank mulls rights issue, follow on offer, QIP, other options to raise Rs 500-700 cr quickly
Shakti Sinha, independent director and part of the three-member committee of directors (CoD) approved by the RBI to run the day-to-day operations of LVB, told FE that the CoD had started hectic parleys to survey all options f
RBI approves panel to run Lakshmi Vilas Bank operations, experts say bank must step up capital raise
Meeta Makhan will be the chairperson of the CoD with Shakti Sinha and Satish Kumar Kalra being the other two members.
Rendered helpless outsiders by virtue of my father having only female heirs: Valli Arunachalam
“We will take the next step as advised by our advisers. We are considering our options at this stage, but since the family has rejected all our attempts for an amicable settlement, it seems we are not left with any other ch
Planning slew of measures for better customer engagement: B Ramesh Babu, MD & CEO of Karur Vysya Bank
B Ramesh Babu, the new MD & CEO of Karur Vysya Bank (KVB) has innovative ideas, backed by 40 years of banking experience including as deputy MD & COO of SBI, to drive KVB further in the growth trajectory.
Valli Arunachalam fails to win board seat, to take legal recourse
Arunachalam, karta of MV Murugappan HUF, told FE she would not shy away from taking the matter to court.
Hyundai close to achieving normal production volumes in India: 43,535 units sold in August
Before the pandemic, Hyundai India had been producing 2,500 cars per day, while it had a total annual capacity of 7.50 lakh cars. Hyundai had ceased all production activities even before lockdown 1.0 was formally announced. D
Valli Arunachalam may be inducted in Murugappa Group’s board today
The development will signal the larger Murugappa family's inclination to amicably settle the stake that her branch of the family has in the business.
My appointment will bring about much-needed diversity: Valli Arunachalam
In an e-mail interaction, Arunachalam said if given a board representation she would exercise her duties with due and reasonable care, skill, and diligence.
India’s global auto components trade likely to grow 5% by 2026: McKinsey
To grow trade, India could benefit from a targeted exports expansion and imports substitution programme, stated a news report by McKinsey on Indian auto component industry. For exports expansion, India has to learn from coun
Apollo Hospitals designates 2,000 beds for Covid care
Against the backdrop of Covid-19, it has now become abundantly clear that controlling non- communicable diseases (NCDs), especially conditions like hypertension and diabetes is critical for building immunity to protect onesel
Amrutanjan to focus on northern, western zones
The Chennai-based company plans to improve its distribution reach across towns and will scale up new categories launched in the past three to five years.
Nissan,TN agree to settle Rs 5,000 crore tax dispute out of court
The dispute cropped up after Nissan alleged that Tamil Nadu had not paid certain incentives under a 2008 agreement to set up a car manufacturing plant at Oragadam near Chennai. Nissan and its French partner Renault had invest
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