MUMBAI: Reserve Bank of India (RBI) has sharply tightened the definition of mis-selling, removing one of the biggest defences used by banks and insurance companies that the customer had explicitly consented by signing documents. Under the new framework, regulated entities will also have to make full refunds in cases of proven mis-selling.In the Draft Reserve…
New Delhi: Akasa has lost another co-founder as Praveen Iyer — also the airline’s chief commercial officer (CCO) — has resigned. A few months back, co-founder Neelu Khatri, who was in charge of international operations had also quit. Akasa has appointed chief information officer as the new head of commercial. The resignations of key people…
NEW DELHI: Commerce and industry minister Piyush Goyal Wednesday asked exporters to take full advantage of the recently concluded Free Trade Agreements (FTAs) with developed countries to boost exports of goods and services and help create jobs.“Industry must now intensify its efforts to penetrate new markets, upgrade quality and become more competitive to take maximum…
NEW DELHI: Rolls Royce CEO Tufan Erginbilgic met PM Narendra Modi Wednesday to discuss strategies to scale up operations to be part of Viksit Bharat, including expanding global capability centre (GCC) to be the largest globally, co- creating complex manufacturing and building high value engineering capabilities. “It was wonderful meeting Tufan Erginbilgic earlier today. We…
MUMBAI: State Bank of India (SBI) on Wednesday went past Tata Consultancy Services (TCS) to become the fourth most-valued company in India. It’s also the most valued public sector entity. On Monday, SBI had gone past ICICI Bank‘s market capitalisation and now it’s within touching distance of Bharti Airtel‘s market cap.The recent surge in its…
NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday rejected the criticism by states over cesses and surcharges, arguing that it was in line with the Constitutional provisions and the money collected through these levies was spent on schemes that benefited the states.While responding to the discussion on the Budget in the Lok Sabha, FM said…
NEW DELHI: A day after releasing a fact sheet on the trade deal with India, the White House revised it to say that India “intends” to buy more than $500 billion of US products, instead of having “committed” to: a substitution which will help PM Modi govt rebut the charge that it had given in…
US President Donald Trump on Wednesday described the recently concluded agreement with India as a “historic trade deal” and said it would significantly boost American coal exports.Addressing a press briefing, Trump said, “America is now the number one energy producer in the world… We’re becoming a massive energy exporter. In just the past few months,…
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