In March/April next year, HDFC Bank says it will start the process for deciding on a successor to Aditya Puri, its founding managing director and chief executive officer.

The successor will be announced by October 2019, a year prior to Puri stepping down from the charge in October 2020.

The Securities and Exchange Board of India (Sebi) has asked the boards of the companies to split the post of chairman and managing director. The regulator has also asked them to have at least six independent directors, including a woman.

The changes need to be put in place in phases, the Sebi said, while setting a deadline of April 1, 2019 for the independent directors. The companies will have more time to split the CMD post, for which the deadline is April 1, 2020.

NEW DELHI: The Supreme Court today directed the National Highways Authority Of India (NHAI) to ensure that the newly constructed Eastern Peripheral Expressway, which is aimed at decongesting Delhi, is inaugurated on or before May 31.

The apex court took exception to the 135-km Expressway, which envisages signal-free connectivity between Ghaziabad, Faridabad, Gautam Budh Nagar (Greater Noida) and Palwal, not being thrown open to the public despite being informed earlier that it would be inaugurated by April 20.

Mumbai: The government on Thursday said that there is a great deal of interest for disinvestment of Air India Ltd, amid the deadline for submission of preliminary bids ending this month.

The last date for submission of Expression of Interest (EoI) for the proposed 76% stake sale in debt-laden Air India is 31 May. Earlier this month, the government came out with clarifications related to the disinvestment.

Bengaluru: Walmart Inc., which sealed the largest e-commerce deal in history with its $16 billion buyout of Flipkart on Wednesday, has set aside nearly $500 million to buy back shares from existing and former employees of Flipkart, according to three people aware of the development.

The Department of Telecommunications (DoT) is expected to clear the mergers of Bharti Airtel-Telenor and Vodafone-Idea soon, a move that will bring some stabilisation in the telecom sector currently battling financial stress.

According to Telecom Secretary Aruna Sundararajan, the go-ahead for Airtel-Telenor deal is likely within a month whereas that of Vodafone-Idea will also be granted shortly as DoT does not want to create any delays.

Congress President Rahul Gandhi on Thursday responded to Prime Minister Narendra Modi's 'personal attacks' and a barb asking him to 'speak in his mother's mother-tongue'.

Addressing to media on the last day of campaign in Karnataka, when asked about the Modi attacking Sonia Gandhi over her Italian origin, Rahul said that he mother is more Indian than many.

The Reserve Bank of India has added 3.1 tons of gold to the reserves in the quarter ending in March in two tranches. This is the first addition since 2009 when RBI bought 200 tons from IMF at $1032 per ton.. According to IMF data (updated till March 2018), on gold as part of forex reserves, India’s forex reserves in gold stand at 560.3 tonnes. While RBI did not respond to queries about addition of gold to reserves on email, sources said that, “the addition looks like a pilot purchase.

India’s largest lender State Bank of India (SBI) is in the final stages of buying four floors at Mafatlal Centre in Nariman Point from IDBI Bank in a deal valued close to Rs 170 crore, two people aware of the development told FE.

According to sources, SBI is expected to move a few of its departments to Mafatlal Centre although it could not be immediately ascertained as to which ones these are.

Numetal is likely to challenge Essar Steel’s committee of creditors’ (CoC) decision that it will have to repay existing debt of Essar Steel before being considered eligible to bid for the bankrupt steelmaker in a higher court, legal sources close to the development said. Late on Tuesday, the CoC notified both Numetal and ArcelorMittal that they would have to clear all existing dues within a week before their bids are considered to be eligible.

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