Private lender ICICI Bank has postponed its annual general meeting (AGM) by a month to September 12, amidst allegations of wrongdoing against its managing director and chief executive Chanda Kochhar. The AGM was to be held on August 10 earlier.

“We wish to update that the change in AGM date and the consequent changes in record dates was necessitated due to the sequencing of general meeting dates within the listed entities of ICICI Group," said the bank in a filing to the exchanges.

The BSE Sensex turned choppy after rising over 117 points in opening trade, amid weak Asian cues and foreign fund outflows.

The broader Nifty, too, slipped below the 11,000-mark.

LIC-IDBI Bank deal: The LIC board will meet on Monday to take a decision on acquisition of of the government’s 51 percent stake in IDBI Bank. The proposal has already been cleared by the insurance regulator IRDAI two weeks back as the insurance companies are not permitted to own more than 15 percent stake in the company under the current norms.

The finance ministry may approach markets regulator Sebi to seek relaxation on the minimum 25% public shareholding norm for some public sector banks (PSBs).

There are 13 PSBs, including IDBI Bank and Bank of India, in which the Centre’s holding is more than 75%.

Telecom operator’s association COAI has written to the Centre that with Public Data Office Aggregators (PDOAs) having no obligation to offer interception and monitoring facilities, it could threaten data privacy and national security.

It also raised the issue that consumers’ interest could be adversely impacted as Public Data Office (PDOs) and PDOAs will offer internet services without licence, which puts them outside the regulatory ambit of Trai.

NEW DELHI: The battle for customer acquisition has taken a fresh turn with the top online marketplace companies Amazon and Flipkart roping in A-lister celebrities to push their brands. For the first time since it began operations in India, Amazon has roped in Amitabh Bachchan, Alia Bhatt and Salman Khan among a few others to promote Amazon Prime Video and its upcoming Prime Day. Rival Flipkart named Ranbir Kapoor and Shraddha Kapoor as its brand ambassadors last month.

NEW DELHI: The Election Commission is set to roll out new version of Electronic Voting Machines — Version M3 — in full strength during the upcoming assembly elections in Madhya Pradesh, Chhattisgarh, Rajasthan and Mizoram. The EC maintains that the new version is “tamper-proof”.

Earlier this year, the EC had used these third-generation EVMs in seven constituencies during the Karnataka assembly polls.

BENGALURU | MUMBAI: Tata Consultancy Services’ (TCS) has set an uphill task for its smaller rival Infosys to play catch up in an environment where there is a revival of large outsourcing deals from the banking and financial services industry, the biggest contributor to Indian companies and the US, its main market.

Indian Farmers Fertiliser Cooperative Limited (IFFCO), a large-scale fertiliser cooperative federation has taken another step to serve and connect the farmers digitally by launching a social e-commerce app and web portal, 'IFFCO iMandi'.

This is in line with the vision for a 'Digital India' by Prime Minister Narendra Modi. Going forward, all e-commerce and digital initiatives of IFFCO shall be available on the IFFCO iMandi platform.

Finance Minister Piyush Goyal has said that the Goods and Services Tax (GST) has worked well in past one year and has generated sufficient revenue.

Addressing the seminar organised by Chhattisgarh Chamber of Commerce and Industries (CCCI) under aegis Chhattisgarh State Infrastructure Development Corporation (CSIDC), Goyal said, "The GST in the past one year has successfully worked and has generated ample revenue.

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