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Fitch Ratings has said Bank of Baroda's (BoB) ratings will not be affected by its exposure to Dubai World....

BoBs Dubai World exposure at Rs 930 cr

MUMBAI: Fitch Ratings has said Bank of Baroda’s (BoB) ratings will not be affected by its exposure to Dubai World. BoB has reported $200m exposure (around Rs 930 crore or 0.6 per cent of BoB’s gross loans at end-September 2009) to Dubai World,the largest reported by an Indian bank, it said.

Corus shuts some TCP mills,1,700 jobs cut

MUMBAI: Tata Steels European arm Corus has decided to halt operations at some of its facilities at its Teesside Cast Products (TCP) business in the UK by next month,leading to loss of jobs 1,700 for people. However,Corus said it intends to keep open a number of operations,including the Redcar Wharf,Redcar Coke Ovens and some of the power generating capacity.

Asit C Mehta cannot set up an NBFC

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MUMBAI: The Reserve Bank has turned down an application of broking house Asit C Mehta Financial Services to enter the market as a non-banking finance institution. The Reserve Bank of India has rejected the application for certificate of registration of M/s Asit C Mehta Financial Services Limited… for carrying on the business of a non-banking financial institution, the Bank said.

I-T dept raids C&C Construction offices

GURGAON: The income tax department conducted a series of raids at various offices of construction majors C&C Construction Ltd. The department began with their operation from (Friday) where in 14 different locations across Delhi,Gurgaon (corporate office),Ropar (Punjab) and Kalaamb (Himachal Pradesh) are being scanned.

United Bank gets govt nod for IPO

KOLKATA: United Bank of India (UBI) on Friday said it has got the government approval to float an IPO which is expected to hit the capital markets latest by the first week of February. UBI chairman and managing director S C Gupta said the bank has been permitted to issue five crore equity shares at a face value of Rs 10.

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EXCLUSIVE: EC brings in feature to check misuse of identity to seek voter list deletions

Political Pulse1 hr ago

The Election Commission has launched a new 'e-sign' feature on its portal and app to prevent fraud. This comes after allegations of misuse of online voter deletion forms in Karnataka. The feature requires voters to verify their identity using their Aadhaar-linked phone numbers, reducing the possibility of fraud.

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