Telecom operator Bharti Airtel lost 5.7 crore mobile customers in December 2018, according to a company statement released Thursday.

Its mobile customer base in India at the end of December 2018 stood at 28.42 crore.

Former ICICI Bank chief Chanda Kochhar, who was terminated with retrospective effect Wednesday, may have to return over Rs 9 crore performance bonus received as the bank’s executive head since 2009, sources said. Besides, she will also have to forgo her unexercised stocks options, they said.

Kochhar became the CEO and managing director of the country’s leading private sector lender in May 2009 and left the bank in October 2018.

The Reserve Bank of India (RBI) on Thursday took three state-owned lenders out of the prompt corrective action (PCA) framework, lifting lending restrictions on the bank trio and providing some relief to the poll-bound government.

The three banks — Bank of India, Bank of Maharashtra and Oriental Bank of Commerce (OBC) — were among 11 public sector lenders that were brought under the PCA framework by the apex bank.

NEW DELHI: The odds are both stacked against it and in favour of it. Following the tradition would make Finance Minister Piyush Goyal rise on Friday to present the 2019-20 interim budget. But this is a Narendra Modi government and an election year. So don’t be surprised if Goyal, inspired by his boss, presents to you a full-fledged budget and gives you all those tax breaks that you prayed for in the last four years.

Even as an aggressive pricing strategy led by price cuts by Bajaj Auto has helped in gaining significant market share (560 bps) in the economy segment in Q3FY19, analysts are concerned over the company’s declining Ebitda margins and have trimmed the estimates for the next two years.

Following a decline of 370 bps in Ebitda margins at 15.6% in the October-December quarter, analysts at Jefferies have trimmed the Ebitda estimates for the next two years by 5-8%. “We cut Ebitda estimates over FY19-21E by 5-8% mainly to reflect weaker gross margins,” they wrote.

The Supreme Court on Thursday asked Sahara group chief Subrata Roy to be personally present before it on February 28 to explain why he had failed to pay his entire dues worth Rs25,781 crore excluding interest, despite being given “several opportunities and indulgence.”

As on date, Sahara has deposited around Rs20,000 crore in the Sebi-Sahara account, which includes principal Rs15,160 crore and Rs4,800 crore interest and is liable to pay a further Rs10,621 crore, according to Sebi.

The Insurance Regulatory and Development Authority of India (Irdai) has asked insurers to make provisions for their exposure to the beleaguered IL&FS group because the write-off option is not there.

They have to make provisions because those exposures cannot be written off, Irdai Chairman Shubash Chandra Khuntia said on the sidelines of the release of the handbook on general insurance on Thursday.

Amazon.com Inc on Thursday forecast first-quarter sales below Wall Street estimates as new regulations in India created uncertainty around one of its key growth markets, even as the online retailer reported record holiday sales and profit.

Shares of the company fell more than 5 per cent to $1,623.90 after the bell, sliding as company officials discussed expenses on a conference call with analysts.

Yes Bank on Thursday appointed Ajai Kumar as interim MD & CEO with effect from February 1 this year. He has been appointed till Ravneet Gill joins office, Yes Bank said in a regulatory filing. Rana Kapoor will demit office as MD & CEO of YES BANK on January 31, 2019 upon completion of his term, the private lender said in an exchange filing.

Insurance Regulatory and Development Authority (IRDAI) has asked the insurance companies to make provision for their exposure to the beleaguered IL&FS group.

They have to make provisions for it as those exposures cannot be written off, IRDAI chairman Shubash Chandra Khuntia said on the sidelines of the release of the handbook on general insurance claim insights for policyholders by the Insurance brokers association.

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