Business

An Indian American, Vinay Dube's appointment was approved by the airline's board of directors on May 30. Jet Airways has been without a full-time CEO since Cramer Ball quit in February 2016.

The regulator's directive came after the corporate affairs ministry shared a list of 331 listed companies that are suspected to be shell entities and could even face "compulsory delisting".

Tata Steel, which saw its net loss widen to Rs 4,168.57 crore last fiscal from Rs 497.09 crore in the previous year, said the average percentage increase in salary of its employees, excluding the KMPs, in FY17 was 6.60 percent.

Public sector banks will need substantial capital to make large haircuts on loans to unviable stressed projects and to meet rising Basel III requirements, S&P said.

At its second bi-monthly monetary policy review of the fiscal on June 7, the RBI maintained status quo on its short-term rate for lending to commercial banks, at 6.25 per cent.

Since different states joined UDAY at a different point of time, with the majority (17 states) of them joining in FY17, the time elapsed by then until now is too short to assess the success of the scheme.

Jaitlry said non-performing assets (NPAs) were essentially productive assets which, if turned around, would not only create additional jobs but also contribute to national output.

"We plan to set up a number of petrochemical clusters, two each in east and west coasts, and some in south India. They will be created (integrated with refineries) so that the entire chain is benefited," said Dharmendra Pradhan.

On Thursday ICICI reported an eight percent fall in first quarter profit from a year earlier to Rs 20.49 billion, in line with analysts' estimates around Rs 20.43 billion.

The US dollar sliding against other currencies overseas and a higher opening in domestic equities limited the rupee's fall, dealers said.

The Financial Sector Regulatory Appointment Search Committee (FSRASC) has shortlisted about 10 names who have been called for interview on July 29 to find a successor for RBI Deputy Governor SS Mundra, who is completing his three-year term this month-end.

Reliance Industries Chairman Mukesh Ambani announced the launch of Jio phone, a 4g-enbaled feature phone that will effectively be available at a price of Rs 0.

In a bid to give a push to 'Housing for All by 2022' and make the Pradhan Mantri Awas Yojna (PMAY) scheme a grand success, real estate developers from across the country will hold a conference in Lucknow on July 22 and 23.

The index is based on transaction data received from housing registration authorities in 10 major cities - Mumbai, Delhi, Chennai, Kochi, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur and Kanpur.

The RBI had directed Essar's creditors, including State Bank of India, Standard Chartered Bank and others, to initiate insolvency proceedings against the steel maker.

Infosys' revenue grew 1.7 per cent to Rs 17,078 crore in the June quarter as against Rs 16,782 crore in the year-ago period