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SBI to dilute stake in insurance JV

Insurance Australia Group (IAG) of Australia currently owns 26 per cent of SBI General Insurance, with SBI, India’s largest lender, holding 74 per cent.

Banks clear Pipavav debt recast just days before closure of CDR window

With banks approving the proposal, the company will get moratorium on repayment, interest rate reduction and fresh working capital.

Yemen crisis, oil rise spook markets

Brent oil jumped 5 per cent early in the session. In New York, Brent was up $2.30, or over 4 per cent, at $58.78 a barrel by 1600 GMT.

ONGC to invest R40K cr in KG basin over next four years

ONGC officials also said that they were keen on being partners in the establishment of a Petro-University in Andhra Pradesh.

Natural calamity: RBI revises norms for loan rescheduling

The RBI said the restructured portion of the short term as well as long-term loans should be treated as current dues and need not be classified as NPA.

Privatisation of airports: Govt postpones bid submission deadline

To address human resources-related issues first, says Airports Authority of India.

Centre to borrow R3.6 lakh crore in first half of FY2016

The Centre’s fiscal deficit is estimated at 3.9 per cent of the GDP in 2015-16, as against the targetted 4.1 per cent in 2014-15.

SpiceJet resolves dispute with lessor, retains 3 aircraft

Earlier on March 19, the Delhi High Court had directed the Directorate General of Civil Aviation (DGCA) to de-register six Boeing 737 aircraft operated by SpiceJet.

14 PSBs in govt’s hot list for high level of stressed assets

FinMin report says nine PSU banks have not formed JLF to tackle stressed accounts.

Delink Plan from classification in Budget, says Reddy

The FFC also suggested replacing the existing FRBM Act with a debt ceiling and fiscal responsibility legislation, specifically invoking Article 292 in its Preamble.

AviationMin toughens guidelines for new airlines to fly abroad

The new formula being proposed for permitting airlines to start international operations, once approved, will replace the ‘5/20’ norm.

Global reinsurance giants set eyes on India market

John Nelson, chairman, Lloyd’s, said, “this (new Bill) is great news for Lloyd’s as the Bill allows the Lloyd’s market to operate in India.

Inflation dips to -2.06% in Feb on cheaper food, fuel items

Sharp fall raises industry clamour for a rate cut by Reserve Bank.

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Key BJP-ruled states pick holes in Centre’s GST Bill

The Centre, though rebutted apprehensions, the GST Bill may face major roadblocks.

NITI to be ‘lean and mean’, infuse outside talent

NITI Aayog CEO Sindhushree Khullar is grappling with the seemingly tough task of trimming the NITI bureaucracy from its current sanctioned strength of 1,200.