Briefly Business

The government discussed with the stock exchanges and other stakeholders a new set of rules for ownership and governance of the bourses.

Govt,stakeholders discuss rules for bourses

New Delhi:The government on Monday discussed with the stock exchanges and other stakeholders a new set of rules for ownership and governance of the bourses,proposed by a Sebi-appointed committee last year. At the meeting,held by ministry of corporate affairs and attended by representatives from various bourses,industry chambers,accounting bodies and other market entities,the government sought a roadmap by May 30 for segregation of regulatory and commercial roles of the exchanges.

IPO scam case: Sebi slaps R9.39 cr on broker

Mumbai: Market regulator Sebi on Monday directed Purshottam G Budhwani,a broker involved in the infamous IPO scam of 2003-05,to deposit over Rs 9.39 crore on unlawful gains made by him.

IDBI to raise up to 300 mn via bond issue

Mumbai: IDBI Bank on Monday said it has firmed up plans to raise up to 300 million through a medium-term Swiss franc bond issue. The bond issue size would be around 300 million dollar. We have finished the road shows and will be deciding on details like the exact amount and timing in the next 2-3 days, IDBI Bank CMD RM Malla said.

ADB to invest in 60 million in VC funds

New Delhi: Multilateral lending agency Asian Development Bank ADB today said it will invest 60 million in three venture capital funds targeted at companies combating the impact of climate change and promoting clean energy in India and China.

Sebi settles case against ARJ Shares for R15 lakh

Mumbai: Market regulator Sebi on Monday settled and passed a consent order in a case against ARJ Shares and Stock Brokers on payment of Rs 15 lakh for the firms alleged role in irregularities relating to initial public offerings of some companies.

Axis Bank launches My Money Card

New Delhi: Axis Bank has launched a money management tool,my money card for youth. It is a prepaid,re-loadable,rupee-denominated card on the Visa platform which enables parents to disburse money to their children staying away from home. The card can be used for cash withdrawals at ATMs,POS and online transactions via verified by Visa.

Aurobindo Pharma gets warning from USFDA

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New Delhi: Drug-maker Aurobindo Pharma on Monday said it has received a warning letter from the US health regulator with regard to its antibiotics manufacturing unit in Hyderabad.

KKR,IFC to invest R440 cr in Magma Fincorp

New Delhi: Non-banking finance firm Magma Fincorp today said global fund manager Kohlberg Kravis Roberts amp; Co KKR and International Finance Corporation IFC will invest Rs 440 crore in the company.