The Reserve Bank of India (RBI) has imposed a penalty of Rs 2 crore on private lender Kotak Mahindra Bank for failing to provide information about promoter shareholding in the bank and the course of action the bank was taking to dilute promoters’ shareholding as per the regulator’s norms.

“This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank,” the RBI said.

Mumbai: The country's largest lender State Bank of India (SBI) on Friday announced introduction of repo rate-linked home loans from July 1. The development comes after the Reserve Bank of India (RBI) in its Monetary Policy statement of June 6 cut the policy rate (repo rate) by 25 basis points.

According to experts, the new category of home loans linked to repo rate may see quicker transmission.

The National Company Law Tribunal (NCLT) has granted approval to Vodafone Idea to hive off its fibre assets into a separate entity named Vodafone Towers. The move to hive off the fibre business was to achieve operational efficiency and also monetisation of the assets. As per estimates, around 1.56 lakh route kilometre of fibre assets owned by the company are worth around Rs 15,000 crore.

The ED is set to expand its probe in the ICICI Bank-Videocon money laundering case and may soon question some officials of the bank, besides grilling its former CEO Chanda Kochhar again, officials said Thursday.

The Enforcement Directorate (ED) had last month questioned and recorded the statements of Chanda Kochhar and her husband Deepak Kochhar over multiple sessions.

The government is planning to liberalise the terms and conditions for the sale of state-owned carrier Air India. The changes would allow a potential buyer to go for a stake sale of the airline immediately after acquiring it. The revised norms would also enable merger or reverse merger of Air India with any existing business of the buyer.

At least 95 per cent stake of Air India will be up for sale while retaining 5 per cent for the employee stock option (ESOP).

Engineering major Larsen & Toubro (L&T) on Friday announced an open offer to purchase 51.3 million shares or an additional 31 per cent stake in Mindtree at Rs 980 apiece. At the current offer price, L&T has to shell out around Rs 5,029.8 crore to buy the stake.

In an exchange filing, the company said the open offer will start on June 17 and will end on June 28.

RRB NTPC Admit Card 2019: The Railway Recruitment Board (RRB) will soon release the RRB NTPC admit card 2019 for Non-Technical Popular Categories (NTPC) recruitment examination. The notification regarding the RRB NTPC 2019 examination will be published on the official website of RRB at rrbcdg.gov.in. the RRB conducts Non-Technical Popular Categories (NTPC) exams to recruit Commercial apprentice,

Paytm Payments Bank has received a target of 501.16 crore digital transactions for the financial year 2019-20 from the Ministry of Electronics and Information Technology (MeitY), higher than the targets set for major banks including HDFC Bank, ICICI Bank and Punjab National Bank.

Mukesh Ambani’s telecom company Reliance Jio is the second most popular brand in India but is beaten by the globally used search engine Google, a recent survey says. In the previous year’s survey, Mukesh Ambani’s Reliance Jio stood at 3rd position and was left behind by both Larry Page and Sergey Brin founded Google and Jeff Bezos’ Amazon. Also, Bharti Airtel, one of the chief competitors of Reliance Jio in India, stood at eighth position.

Infrastructure major Larsen and Toubro on Friday announced an open offer for 51.3 million shares or 31 per cent stake of mid-tier IT company Mindtree at Rs 980 per share, according to a regulatory filing.

L&T will have to shell out Rs 5,029.8 crore for the planned open offer for the Bengaluru-based company.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.