US automobile major Ford has decided to recall 3,072 Ford Fiesta cars in India. These were manufactured at it’s factory in Maraimalai Nagar, near Chennai.

“The safety and comfort of our customers are always top priorities. For their peace of mind and convenience, we have initiated a Field Service Action to correct a product concern on 3,072 Ford Fiesta TDCi vehicles,” it said. The company is writing to customers and asking them to contact their local Ford dealer so that a new design, a waterproof Glow Plug Control Module, can be installed free of charge. The Ford Fiesta in question here, built at the plant from October 14, 2010, to December 16, 2011.

A day after Kotak Mahindra Bank acquired ING Vysya Bank in an all-share deal, the former’s management agrees there are some challenges to be addressed, apart from the opportunities.

“There is an element of fat in the business and we will address it in an evolutionary manner…We are aware of the challenges and we want to make the business productive,” said Uday Kotak, executive vice-chairman and managing director of Kotak Mahindra, in an analyst conference call.

Securites and Exchange Board of India (Sebi) on Friday 'reprimanded' HSBC Securities and Capital Markets Pvt Ltd for failing to make adequate disclosures related to an open offer for shares of Global Offshore Services' made in 2008.

Besides HSBC Securities, which acted as the merchant banker, the capital market watchdog also reprimanded India Star (Mauritius) Ltd which had made the open offer. However, Sebi ruled that "a direction in the nature of ordering the acquirer to make another public offer is not warranted".

Even as the modified Direct Benefit transfer of LPG (DBTL) scheme is set to be launched pan-India by January 1, 2015, the Indian Oil Corporation (IOC) Ltd. has set a target of 90 per cent cash transfer compliance (CTC) among its consumers by mid January.

Earlier, the DBTL scheme was launched on June 1, 2013 but required consumers to mandatorily have an Aadhaar number for availing LPG Subsidy. Post review, the government later modified the scheme allowing consumers who do not have an Aadhaar number to still be cash transfer compliant by registering their bank accounts.

ICICI Bank, which more than doubled its headcount in the past five years, has decided to go slow on hiring for now.

The country’s largest private sector lender has paused on fresh recruitment and, in many cases, isn’t even replacing those leaving the company. Instead, it is focusing on improving the productivity and efficiency of its existing workforce.

Shares of ICICI Bank has higher by 3% to Rs 1,732 on National Stock Exchange (NSE) after the bank has fixed December 5 as the record date for its proposed stock split.

The bank has fixed record date as December 05, 2014 for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 equity shares of nominal value of Rs 2 each in lieu of 1 equity share of nominal value of Rs 10 each of the bank, ICICI Bank said in a statement.

GMR Male International Airport Private Limited (GMIAL), a subsidiary of GMR Infrastructure Limited (GMR), has claimed $803 million (around Rs 4,987 crore) from the Maldivian government for 'wrongfully' terminating the international airport contract in that country's capital.

According to filing with bourses, the Indian infra major said, in addition to that, a plea for award of further damages for loss of reputation caused to GMR as a consequence of wrongful repudiation of the Concession Agreement has also been made to the Arbitral Tribunal in Singapore.

Maruti Suzuki India’s grip on the country’s car market tightened in October with six of its models, including the newly launched mid-sized sedan Ciaz, featuring in the top 10 selling brands in the month.

According to the Society of Indian Automobile Manufacturers Association (SIAM) while entry level model Alto continues to lead the best selling model chart, Maruti’s compact sedan Dzire moved up to the second spot ahead of popular premium compact Swift, which has slipped to the fourth spot behind WagonR.

State Bank of India (SBI) today reclaimed its position as the country's most valued bank with a total market valuation of over Rs 2.25 lakh crore, surpassing private sector player HDFC Bank.

At 1008 hours, shares of SBI gained 2.2% to Rs 304 on BSE, taking its market value to Rs 226,734 crore, making it the overall sixth most valued company.

India’s top batsman Virat Kohli has asked the public to use common sense on his much talked about relationship with actress Anushka Sharma, saying they indeed are seeing each other and their privacy should be respected.

It is out in the open (Jo hai sabke saamne hai abhi). We are not hiding anything, we are not trying to hide anything. I don’t want to hide anything. But if you get repeatedly asked on the same thing and if it is made a matter of debate then both the individuals don’t feel it is right, said Kohli at the launch of his fashion line in Mumbai.

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