Oil refining and marketing company BPCL's former chairman Arun Kumar Singh is likely to be the new chairman of India's top oil and gas producer ONGC -- the first instance of a top PSU board-level position going to a person aged over 60.

A search-cum-selection committee, constituted by the oil ministry, zeroed in on Singh after interviewing six candidates on August 27, two sources aware of the matter said.

Days ahead of the deadline to submit binding bids, LIC's move to sell its Rs 3,400 crore secured principal debt of cash-strapped Reliance Capital Ltd (RCL) to an asset reconstruction company (ARC) has irked its lenders and bidders.

The last date for submitting binding bids for Reliance Capital Ltd (RCL) and its subsidiaries is November 28.

Bajaj Auto is planning to tap the big opportunity to sell its electric scooters in the south east Asian market given that countries in the region have announced ambitious targets for conversion of ICE vehicles to electric.

Bajaj’s presence in this market in ICE vehicles has been limited till now because the region is essentially a step-through two-wheeler and scooter market. Bajaj does not have products in scooters and step throughs powered by ICE.

The BEML's demerged non-core businesses entity, BEM Land Assets Ltd, is expected to be listed in the next one month, a step toward divestment of the engineering major.

The government seeks strategic divestment of 26 per cent post BEML demerger process of non-core assets.

India saw a single-day rise of 501 new coronavirus infections, while the active cases have declined from 7,918 to 7,561, the health ministry said on Tuesday.

Currently, the total Covid cases stand at 4,46,66,676, while the death toll has climbed to 5,30,535 with two more fatalities -- one each from Delhi and Rajasthan.

Homegrown microblogging platform Koo on Wednesday announced that it has become the second largest microblog available to the world.

Launched in March 2020, the platform recently clocked 50 million downloads and has seen an upward trajectory in terms of growth.

The US government has fined Air India $1.4 million for "extreme delays" in refunding passengers $121.5 million for flights cancelled or changed significantly.

Announcing the action against the Indian flag carrier and five other airlines on Monday, Transportation Secretary Pete Buttigieg said: "A flight cancellation is frustrating enough, and you shouldn't also have to haggle or wait months to get your refund."

Piramal Capital and Housing Finance Ltd has withdrawn the insolvency proceedings against Reliance Power Ltd.

Piramal Capital and Housing Finance Ltd has withdrawn the application made against Reliance Power Ltd under section 7 of the Insolvency and Bankruptcy Code 2016, a BSE filing stated.

Paytm's pre-IPO investors, which include likes of Warren Buffet's Berkshire Hathway, SoftBank, Elevation Capital and Alibaba, do not seem to be in a hurry to exit the company as they continue to believe in its long-term prospect, analysts said.

On Tuesday, 86 per cent of Paytm's shares became free to trade after end of lock-in period but that had a minimal impact on the stock.

Meta Platform Inc.’s former policy head for India is set to take a similar role at Samsung Electronics Co.’s local unit, people with knowledge of the matter said.

Rajiv Aggarwal will take up the position, which entails liaising with and lobbying government officials on domestic policy matters, from December, one of the people said, asking not to be identified because the appointment hasn’t been made public.

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