RBI scans for virus in 50 mortgage lenders and shadow banks

India’s central bank is seeing ‘signs of fragility’ in some of the 50 mortgage lenders and other shadow banks it is monitoring to prevent the spread of a crisis that followed the collapse of a non-bank lender last year. Continue Reading

Airtel seeks shareholders’ nod for waiver of remuneration paid to chairman

Bharti Airtel will seek shareholders’ approval for a waiver of recovery of excess remuneration paid to company chairman Sunil Bharti Mittal and CEO Gopal Vittal in 2018-19, the telecom company said Sunday. Continue Reading

RBI Ex-Dir: Consult with developing economies before decision

Global financial institutions such as the International Monetary Fund (IMF) and the World Bank should consult developing economies before taking decisions on them, Reserve Bank of India (RBI) Executive Director Rabi Mishra said on Sunday. Continue Reading

Alembic Pharma gets USFDA nod

Drug firm Alembic Pharmaceuticals Monday said it has received approval from the US health regulator for Pregabalin Capsules, indicated for management of neuropathic pain associated with certain illnesses. The approved product is therapeutically equivalent to the reference listed drug Lyrica Capsules of PF Prism CV. Continue Reading

IndiGo set to have 10 board members including 4 directors

InterGlobe Aviation has decided to have up to 10 members on its board, including four independent directors. The decision, taken during the company’s board meeting on 20 July, also comes against the backdrop of feud between co-promoters – Rakesh Gangwal and Rahul Bhatia – over corporate governance issues. InterGlobe Aviation is the parent of the country’s largest airline IndiGo. Continue Reading

Thomas Cook opens new branch at Parry’s Corner in Chennai

One of India’s leading integrated travel and travel related financial services company, Thomas Cook (India) Ltd in a bid to strengthen its presence in South India launched its Gold Circle Partner outlet at its new branch located at No 91, Armenian Street, Parrys. Continue Reading

Medical Equipment Trade Fair from 26-28 July

Medicall, the largest B2B Medical Equipment Trade Fair organised by Medexpert Business Consultants Pvt Ltd will be held from 26–28 July at Chennai Trade Centre. Continue Reading

Lockheed Martin inks MoU with Chennai startup

US global aerospace, defence security company Lockheed Martin has signed MoUs with Chennai-based startup Terero Mobility and Bengaluru-based startup NoPo Nanotechnologies for providing various technlogy services. Continue Reading