German luxury car maker Mercedes-Benz has announced changed in its top-management and Roland Folger who currently heads the company’s operations in India will be replaced by Martin Schwenk starting November 2018. Martin Schwenk is currently the CFO of Mercedes-Benz China operations and will the Managing Director & CEO of Mercedes-Benz India.

Mumbai: State-owned fuel marketers are pushing back against a regulatory suggestion to allow Reliance Industries Ltd (RIL) to use their pipelines to sell jet fuel at the Mumbai airport.

Currently, the three public sector oil marketing companies — Bharat Petroleum Corp. Ltd (BPCL), Hindustan Petroleum Corp. Ltd (HPCL) and Indian Oil Corp.

HDFC Bank’s loan advances are up nearly Rs 7.09 lakh crore as of June 30 this year compared to Rs 5.8 lakh crore in the corresponding period last year and Rs 6.5 lakh crore as of March 2018, Bank said in the filing. It is more than three times of Rs 2.11 lakh crore what the government last year had announced for bank recapitalisation plan of state-owned lenders weighed down by bad loans. The deposits aggregated nearly Rs 8.6 billion at June end.

Tata Motors-owned Jaguar Land Rover (JLR) on Monday reported 0.9 per cent increase in global sales at 52,049 units in June against 51,591 units in the same month last year.

Sales of Jaguar brand of vehicles in June were at 16,328 units, a growth of 6.41 per cent, the company said in a regulatory filing.

Shares of Mahindra & Mahindra (M&M) were quoting higher for the fifth straight trading days, hitting new high of Rs 940, up 2% on the BSE, after the government last week increased the minimum support price (MSP) of kharif crops for 2018-19.

In past six trading sessions, M&M has rallied 6% as compared to 1.5% rise in the S&P BSE Sensex. In past four months, it surged 29% against 7.5% rise in the benchmark index.

New Delhi: State-run BSNL has become the first telecom company to launch internet telephony 'Wings' after government gave its go-ahead last month to access service providers and also has introduced a first-time prepaid concept to landline billings akin to mobile services.

The PSU soft launched these services recently.

Mumbai: The benchmark Sensex on Monday rose over 200 points, while Nifty reclaimed the 10,800-mark on widespread buying in metals, auto, IT and banking counters, amid firm Asian cues and a strengthening rupee.

The 30-share BSE Sensex jumped 244.84 points, or 0.69 per cent, to 35,902.70. The gauge had gained 83.31 points in the previous session on Friday.

Mumbai: The rupee appreciated by 30 paise to 68.57 against the US dollar in early trade on Monday at the forex market on increased selling of the greenback by exporters and banks, amid a higher opening of the domestic equity market.

Besides, the dollar's weakness against some currencies overseas after US jobs data showed slower-than-expected wages growth supported the rupee, forex dealers said.

New Delhi: Dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month, the bank data has showed.

The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender.

Two recent events in the financial sector offer many corporate governance lessons. In one case, the government and its agencies were involved and left behind questionable precedents. In another private sector institution, a former government employee is involved though the manner of his involvement raises questions. These events are juxtaposed with larger societal questions related to saving institutions and jobs and ensuring financial stability.

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