Mobile phone operator Idea Cellular Ltd plans to launch a share sale to raise as much as USD 500 million on June 5 to part fund its capital expenditure including a purchase of mobile radiowaves, three people involved in the deal said.

Mumbai, June 4: ICICI Bank seems to have begun preparing itself for a turnaround in the domestic economy. The country’s largest private bank is planning to raise its borrowing limit to Rs 2,50,000 crore from Rs 2,00,000 crore.

The lender will seek shareholders’ nod to increase the borrowing limit at its annual general meeting on June 30.

The CBI Wednesday registered 46 FIRs in a day in the Rs 10,000-crore Saradha financial scam, naming suspended Trinamool Congress MP Kunal Ghosh as one of the accused.

Of the 46, only four are fresh FIRs — three in West Bengal and one in Orissa — and 42 cases have been taken over from the Orissa Police, a CBI spokesperson said, adding the larger conspiracy angle, including the role of regulatory authorities and money trail in this scam, will also come under the scanner during investigation.

The benchmark BSE Sensex recovered by nearly 26 points in early trade on Thursday after Wednesday’s fall as funds and investors bought stocks of power, metal, infrastructure, consumer durables and realty companies amidst a mixed trend in Asian markets.

The 30-share index, which had retreated from the record closing high by falling 52.76 points on Wednesday, recovered by 25.96 points, or 0.10 per cent, to 24,831.79 in the opening trade.

The confirmation of Prime Minister Narendra Modi's visit to the United States means two things: that Mr. Modi is keen to extend his summit-level approach to bilateral ties past the subcontinent to the U.S. as well, and that U.S. President Obama wants to patch up the damage to Indo-US ties, enough to break with US protocol for a second year in a row for an Indian Prime Minister.

The turnaround story of India’s second-largest IT services exporter, Infosys, could get delayed further due to an inefficiently handled CEO selection process and senior management exits, impacting its revenue growth during the current fiscal, according to a brokerage house.

PUBLIC shareholding norms for public sector companies would be brought on a par with their private sector peers, said Sebi chairman UK Sinha, which would unlock sizeable funds for the government with estimates suggesting the cache could be in the order of Rs 50,000 crore.

In a first, Prime Minister Narendra Modi on Wednesday met secretaries of all the government departments collectively and asked them to directly get in touch with him to resolve policy issues and expedite decision-making.

Modi held a three-hour-long marathon meeting here with them with intent of giving the bureaucracy a greater role in decision-making with thrust on transparency and speedy and effective governance. To ensure that implementation of decisions and programmes are not stuck in “red-tape”, he asked secretaries to call him or e-mail him directly for suggestions or intervention required in resolving issues or expeding decisions, sources said.

Equated monthly instalments (EMIs) had so far brought you closer to your dream house, automobile, foreign travel, higher education and consumer goods — from air-conditioners to plasma TV. Now, it is also going to play a role in providing you timely health care and, perhaps, extending the longevity of those unable to pay for expensive life-saving drugs or medical procedures in one go.

India's top companies led by Indian Oil, Vedanta, Tata Power and Power Finance Corporation are raising loans abroad this month to take advantage of renewed investors' interest in the country.

While public sector Indian Oil is raising $650 million, Anil-Agarwal's Vedanta is marketing a $500 million loan among investors in the Gulf countries. Tata Power is also in the market to raise $200 million and has sought responses by July 11 from investors. Power Finance Corporation has hired bankers to raise $250 million in overseas loans in June.

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