KOLKATA: Prodded by the Comptroller and Auditor General's (CAG) report on lack of amenities for passengers, the Indian Railways has finally come up with a web-based complaint receiving system for immediate redressal of grievances. The Indian Railway Complaint Management System (IRCMS) has become operational and passengers can lodge complaints about services provided by zonal railways by sending SMSs to +919717630982.

Mumbai: Foreign shareholding in private sector lender Kotak Mahindra Bank has hit the trigger limit for foreign institutional investors (FIIs), and any further purchases of bank’s share by them will be allowed only after the Reserve Bank of India’s approval.

RBI has been monitoring the foreign investment limit under the portfolio investment scheme (PIS) in the bank which has hit the trigger point.

Air India has begun terminating services of cabin crew members who have not reported for duty for six months at a stretch. Since February it has issued letters to 45 employees and plans to send out another 59 letters soon.

With this action, the state-run airline has shipped out 129 staff since last year.

Senior IAS officer Rajeev Topno was on Wednesday appointed Private Secretary to Prime Minister Narendra Modi even as the government cleared the names of private secretaries to two of his Cabinet colleagues after having put on hold some of these appointments.

Topno, a 1996 batch IAS officer of Gujarat cadre who was already working as Director in the Prime Minister’s Office, has been appointed Private Secretary to the Prime Minister, according to an official order issued today.

Tigerair, the Singapore-based budget carrier, today announced a special campaign - "Pay to go, complimentary return" - exclusively for ICICI Bank’s credit, debit and prepaid cardholders.

During the offer period, the customers of ICICI Bank can avail the opportunity to pay only for one-way fare to Singapore, where in the return ticket will be complimentary. The customer will have to pay only for airport taxes and other charges on the return fare.

We maintain our 'buy' rating on Maruti Suzuki India with a 12-month target price of R2,700 per share, which implies relative valuation of 16.5x FY16e EPS (RFR 7%, ERP 7.1%, WACC 13% and TGR 2%). MSIL is well-placed to benefit from an upturn in domestic 4W demand, particularly in entry-level compact cars which account for 24% and 35% of industry and MSIL’s volumes, respectively.

The Securities and Exchange Board of India (Sebi) would discuss and announce various reforms to revamp India's capital markets, including revision in initial public offerings (IPOs) and offer for sale (OFS) framework at its board meeting in New Delhi on Thursday.

The regulator intends to rectify anomalies and bring more flexibility pertaining to the minimum issue size in IPOs, which many companies have been exploiting. At present, all companies with a post-issue capital of below R4,000 crore are required to offer at least 25% stake in an IPO, while companies with above R4,000 crore post-issue capital are required to offer at least 10%. However, it created anomalies in borderline cases and companies slightly below the R4,000-crore mark showed valuation of the company as R4,000-crore plus.

The benchmark BSE Sensex recovered over 125 points in early trade today on emergence of buying by funds and retail investors amidst a firming trend in global markets after Federal Reserve's upbeat outlook on the US economy.

The 30-share index rose by 125.27 points, or 0.50 per cent, to 25,371.521 points with capital goods, power, consumer durables, realty and auto sector stocks leading the recovery.

Beverages giant Coca-Cola's plant at Varanasi in Uttar Pradesh has been shut after the Uttar Pradesh pollution control board withdrew permission to operate over alleged violation of environmental norms. “In an unprecedented move, Uttar Pradesh Pollution Control Board (UPPCB) withdrew the consent to operate to the Hindustan Coca-Cola Beverages plant at Mehandiganj, Varanasi," the company said in a statement.

Annual general meetings of Reliance Industries are never dull. This year was no exception.

When Mukesh Ambani, dressed in a white shirt with a red and white check tie and a black coat, walked into the Birla Matoshree auditorium at 10:45 am, there was commotion among shareholders to shake hands with the billionaire who leads India Inc's first family.

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