Private lender YES Bank, which recently formed a committee to search for a successor to its managing director and chief executive officer Rana Kapoor, will have two external members in the panel — T S Vijayan, former chairman of the Insurance Regulatory and Development Authority of India and O P Bhatt, former chairman and managing director of State Bank of India.

The private bank disclosed this to the stock exchanges in a filing on Friday.

KOLKATA: The Department of Telecommunications (DoT) is preparing to open up new bands to support 5G services.

It will shortly seek suggestions from the telecom regulator on the suitability of the 28 GHz band for 5G commercial deployments, along with its views on pricing such airwaves, said people aware of the matter.

Facebook-owned WhatsApp and Reliance Jio on Friday started a campaign to train people about using the mobile messaging platform responsibly on their JioPhones.

Starting October 9, WhatsApp and Jio would visit 10 cities in different states including Uttar Pradesh and Rajasthan for street plays and engage users to guide them on meaningful and positive ways of WhatsApp use.

Mumbai: The six-member Monetary Policy Commitee (MPC), chaired by RBI Governor Urjit Patel, started its three-day discussions from 3rd September, 2018, for decision on key interest rates amid rising oil prices, rupee woes and inflation floating around 3.69 per cent.

The MPC was meeting for its fourth bi-monthly Monetary Policy Statement for the year 2018-19. Reserve Bank of India has decided to keep the repo rate same at 6.50 per cent.

New Delhi: LIC on Thursday came out with an open offer for acquiring 26 per cent equity in IDBI Bank at a price of Rs 61.73 per share, entailing a total payout of over Rs 12,602 crore.

Earlier in the day, the IDBI Bank board approved the proposal for issuance of preferential shares in favour of LIC with a view to increase the insurer’s share in the bank up to 51 per cent.

New Delhi: The government is likely to finalise a revival package for debt-laden Air India in 10 to 15 days, a senior official said on Thursday.

Earlier this year, efforts for strategic disinvestment of the airline failed to take off. The national carrier is estimated to have a debt burden of more than Rs 50,000 crore.

Bengaluru: India’s biggest online retailers Flipkart and Amazon are pulling out all the stops to woo top smartphone brands such as Apple, Samsung, Xiaomi and Huawei to exclusively sell their wares on their online marketplaces, as they joust for an edge during the Diwali shopping season.

German luxury carmaker Mercedes-Benz Friday launched a new version of its premium SUV AMG G 63 priced at Rs 21.9 million (ex-showroom).

The model comes powered by a 4-litre V8 bi-turbo diesel engine that generates 585 hp of power.

Reliance Health Insurance, a wholly owned subsidiary of Anil Ambani-led Reliance Capital, has received final approval from the insurance regulator IRDAI to begin operations. The firm will start its operations by December quarter of 2018. “Reliance Health Insurance, a wholly owned subsidiary of Reliance Capital,announced that it has received R3 approval from IRDAI for its new health insurance business,” company said in an exchange filing.

Chanda Kochhar, who helmed the country’s second-largest private lender ICICI Bank for nine years since 2009, on Thursday stepped down as managing director (MD) and chief executive officer (CEO) amid allegations of irregularities in loans given to the Videocon Group. Shares of ICICI Bank ended 4.07% higher than their previous close on the BSE at Rs 315.95.

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