The Reserve Bank of India (RBI) has called a meeting on Monday with all stakeholders involved in the largest data breach in India’s banking system, said two people with direct knowledge of the development.
The meeting will be chaired by a deputy governor of the central bank and will be attended by executives from banks and payment network service providers.
(Source: Livemint)
Reliance Industries BSE -2.21% is set to buy six very large ethane carriers (VLEC) from South Korea’s Samsung Heavy Industries Co Ltd for $600 million, said executives involved, marking the Mukesh Ambani-led company’s biggest maritime initiative in recent times. The deal is to be signed on Monday in Mongolia’s capital Ulan Bator, said people with knowledge of the matter.
(Source: The Economic Times)
Reliance Jio Infocomm Ltd may extend its offer of free phone services to customers till March, about three months later than its earlier plan of ending free services on 31 December, parent Reliance Industries Ltd told analysts.
(Source: Livemint)
The Securities and Exchange Board of India (SEBI) will start a fresh inspection of the books of some brokers to examine if they got unfair access to National Stock Exchange of India (NSE) co-location servers for algorithmic trading, said two people aware of the development, including an official with the regulator.
(Source: Livemint)
Brothers Malvinder and Shivinder Singh have approached financial and strategic investors to sell Religare Finvest for as much as Rs 6,000 crore, said people aware of the matter. The non-banking finance company (NBFC) focusses on lending to small and medium-sized enterprises and is the mainstay of the Singhs' publicly traded diversified financial services platform Religare Enterprises Ltd (REL).
(Source: The Economic Times)
Foreign investors have pulled out nearly Rs 7,500 crore from the Indian market this month so far, after pumping in a staggering amount in September.
Most of the funds have been withdrawn from debt markets during the period under review.
On 4 October, the Reserve Bank slashed policy rate by 0.25% to 6.25%, a six-year low.
(Source: BloombergQuint)
The second quarter is expected to be a tepid one for telecom companies, with Bharti Airtel Ltd. and Idea Cellular Ltd. likely to report lower revenue, earnings before interest, tax, depreciation and amortisation (EBITDA), and net profit compared to the last quarter of this financial year, Bloomberg consensus estimates suggest.
(Source: BloombergQuint)
Wipro Ltd expects the strategy pursued by chief executive Abidali Neemuchwala to help India’s third-largest software services company end the next fiscal year with industry-matching growth.
Bengaluru-based Wipro does not give an annual forecast (it provides quarterly guidance) and for this reason, it has clarified that this should not be interpreted as a target.
(Source: Livemint)
Procter & Gamble (P&G), the world’s biggest consumer goods company, is exploring a long-term partnership with Kishore Biyani’s Future Group akin to the one it has with Walmart in the US, that could involve joint sales forecasting and planning, exclusive product releases, embedding officials at each others’ headquarters and even supply-chain initiatives.
(Source: The Economic Times)
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