Daily News

Image

Life Insurance Corporation of India (LIC) appoints Tablesh Pandey and M Jagannath as MDs

LIC announced the appointment of Tablesh Pandey and M Jagannath as Managing Directors of the corporation. The two managing directors who retired from the corporation this week are Raj Kumar and BC Patnaik.

The third MD, apart from Sh.Pandey & Sh. Jagannath, is Ipe Mini.

Siddharth Mohanty will continue to execute his functions as MD along with being the interim chairman.

Did you Know

Image

RBI allows banks from UK, 17 other countries to open Vostro accounts for rupee trade

The RBI has allowed Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and the United Kingdom to open Vostro accounts as of now.

In July last year, the Centre had said that it will be setting up of a mechanism to settle international trade in rupees.

Did you Know

Image

RBI releases data on ECB / FCCB / RDB for January 2023

The Reserve Bank of India released the data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB) and Rupee Denominated Bonds (RDB) both, through Automatic Route and Approval Route, for the month of January 2023.

Did you Know

Image

RBI imposes monetary penalty on Nuvama Wealth Finance Ltd. (formerly known as Edelweiss Finance & Investments Limited), Mumbai

The Reserve Bank of India (RBI) imposed a monetary penalty of ₹9.60 lakh (Rupees Nine lakh sixty thousand only) on Nuvama Wealth Finance Limited (formerly known as Edelweiss Finance and Investments Limited) (the company) for non-compliance with certain provisions of the Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016.

Did you Know

Image

Govt clears smartphone PLI incentives worth Rs765 cr, Wistron to get Rs 601.93 cr

Govt. has cleared financial incentives to the tune of Rs 765 crore under the production-linked incentive (PLI) scheme for large scale electronics manufacturing.

The government will release financial incentives worth Rs601.93 crore to Wistron, followed by Rs149.63 crore for Dixon Technologies, according to data provided by India Cellular and Electronics Association (ICEA)

Did you Know

Image

Successful flight-test of DRDO's indigenous power take off shaft conducted on LCA Tejas

A successful flight-test of power take off (PTO) shaft was conducted on the Light Combat Aircraft Tejas in Bengaluru. The PTO is a critical equipment that transmits power from aircraft engine to the gearbox.

The maiden successful flight-test of PTO shaft was conducted on LCA Tejas Limited Series Production (LSP)-3 aircraft.

Did you Know

DRDO Chairman: Samir V Kamat.

Image

Competition Commission of India clears Reliance's $344 million buy of Metro's local business

India's competition regulator cleared Reliance Industries Ltd's 28.50 billion rupees ($346.16 million) acquisition of the Indian business of German retailer Metro AG.

Metro has been active in the Indian market since 2003 and reported sales of about 77 billion rupees for the financial year ended September 2022.

Did you Know

Image

Microsoft inks licensing deal with cloud gaming provider Boosteroid

Microsoft signed a 10-year licensing deal to bring Activision's Call of Duty franchise to cloud gaming provider Boosteroid's platform, a move partly aimed at allaying competition concerns over its Activision acquisition.

Ukraine-based Boosteroid's access to Call of Duty is conditional on regulatory approval for the Activision deal.

Did you Know

Image

Amitava Mukherjee assumes additional charge as NMDC CMD

NMDC said its Director (Finance) Amitava Mukherjee has taken the additional charge as its Chairman-Cum-Managing Director.

NMDC Limited is a central public sector undertaking. It is under the ownership of the Ministry of Steel, Government of India.

NMDC Headquarters: Hyderabad; Founded: 1958.

Did you Know

Image

Honeywell company veteran Vimal Kapur to replace Darius Adamczyk as CEO

Vimal Kapur, President, and Chief Operating Officer will succeed Darius Adamczyk as Chief Executive Officer on June 1, 2023. Adamczyk, who became Chief Operating Officer in 2016, Chief Executive Officer in 2017, and Chairman in 2018, will continue to serve as Executive Chairman of Honeywell.

Did you Know