1.Centre sanctions Rs. 200 cr. for flood-hit J&K
The Centre on Monday sanctioned Rs. 200 crore for immediate rescue and relief operations in flood-hit Jammu and Kashmir, said Chief Minister Mufti Sayeed to the Assembly in Jammu today, according to an official press release which came in the form of a clarification.
The clarification was issued after Mr. Sayeed told the Assembly that “I have authorised release of Rs 225 crore in favour of Divisional Commissioner, Kashmir. and Rs 10 crore in favour of Divisional Commissioner, Jammu and SDRF (State Disaster Relief Fund) for rescue and relief.”
The official statement, quoting Mr. Sayeed, later said, “Central government has granted Rs 200 crore as immediate relief fund for floods.” Out of this, Rs. 25 crore has been released in favour of Divisional Commissioner, Kashmir, and Rs. 10 crore in favour of Divisional Commissioner, Jammu.
The Centre on Monday sanctioned Rs. 200 crore for immediate rescue and relief operations in flood-hit Jammu and Kashmir, said Chief Minister Mufti Sayeed to the Assembly in Jammu today, according to an official press release which came in the form of a clarification.
The clarification was issued after Mr. Sayeed told the Assembly that “I have authorised release of Rs 225 crore in favour of Divisional Commissioner, Kashmir. and Rs 10 crore in favour of Divisional Commissioner, Jammu and SDRF (State Disaster Relief Fund) for rescue and relief.”
The official statement, quoting Mr. Sayeed, later said, “Central government has granted Rs 200 crore as immediate relief fund for floods.” Out of this, Rs. 25 crore has been released in favour of Divisional Commissioner, Kashmir, and Rs. 10 crore in favour of Divisional Commissioner, Jammu.
2. JICA inks pact with Centre for Rs. 1,800 cr Rengali irrigation project loan
The Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India here on Monday to provide a 33,959 million yen (₹1,800 crore approximately) Japanese Official Development Assistance (ODA) loan to increase irrigated area in Phase 2 of the Rengali Irrigation Project in Odisha.
The agreement was signed by Shinya Ejima, Chief Representative, JICA India, and Tarun Bajaj, Joint Secretary, Department of Economic Affairs, Finance Ministry.
3. TCS shareholders meeting to approve CMC amalgamation
India’s leading software services exporter, Tata Consultancy Services (TCS) has called for a meeting on its shareholders on April 28, 2015 in Mumbai to approve the proposed scheme of amalgamation of its subsidiary, CMC.
The High Court-appointed shareholders meeting follows the clearance the scheme of amalgamation received earlier from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
TCS had on October 16, 2014 informed the stock exchanges that its Board of directors had approved the merger between the two companies. The date for the proposed scheme is April 1, 2015.
4. Sahoo becomes Wholetime Member of Competition Commission
Former SEBI Whole time Member MS Sahoo has joined the Competition Commission of India as a Wholetime Member.
Sahoo was till recently Secretary at the Company Secretaries’ Institute
The other serving wholetime members of the competition watchdog are SL Bunker, Sudhir Mital, Augustine Peter and UC Nahta.
India’s leading software services exporter, Tata Consultancy Services (TCS) has called for a meeting on its shareholders on April 28, 2015 in Mumbai to approve the proposed scheme of amalgamation of its subsidiary, CMC.
The High Court-appointed shareholders meeting follows the clearance the scheme of amalgamation received earlier from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
TCS had on October 16, 2014 informed the stock exchanges that its Board of directors had approved the merger between the two companies. The date for the proposed scheme is April 1, 2015.
4. Sahoo becomes Wholetime Member of Competition Commission
Former SEBI Whole time Member MS Sahoo has joined the Competition Commission of India as a Wholetime Member.
Sahoo was till recently Secretary at the Company Secretaries’ Institute
The other serving wholetime members of the competition watchdog are SL Bunker, Sudhir Mital, Augustine Peter and UC Nahta.
5. New Zealanders dominate ICC team of the tournament
Five players from World Cup runners-up New Zealand and three from winners Australia were named in the International Cricket Council's (ICC) team of the tournament on Monday.
New Zealand captain Brendon McCullum was joined by fellow Kiwis Martin Guptill, Corey Anderson, Daniel Vettori and Trent Boult following their team's brilliant run to the final.
Australia, who crushed their neighbours by seven wickets in the showpiece match in Melbourne on Sunday, were represented by batsman Steven Smith, all-rounder Glenn Maxwell and pace bowler Mitchell Starc, who was named player of the tournament.
South Africans AB de Villiers and Morne Morkel and Sri Lanka batsman Kumar Sangakkara completed the side with Zimbabwe's Brendan Taylor named as 12th man.
"The panel had an extremely difficult choice of selecting a 12-member squad at the back of an outstanding tournament, highlighted by some eye-catching individual performances including two double-centuries, 38 centuries, two hat-tricks and 28 four-wicket hauls," ICC general manager Geoff Allardice said.
Five players from World Cup runners-up New Zealand and three from winners Australia were named in the International Cricket Council's (ICC) team of the tournament on Monday.
New Zealand captain Brendon McCullum was joined by fellow Kiwis Martin Guptill, Corey Anderson, Daniel Vettori and Trent Boult following their team's brilliant run to the final.
Australia, who crushed their neighbours by seven wickets in the showpiece match in Melbourne on Sunday, were represented by batsman Steven Smith, all-rounder Glenn Maxwell and pace bowler Mitchell Starc, who was named player of the tournament.
South Africans AB de Villiers and Morne Morkel and Sri Lanka batsman Kumar Sangakkara completed the side with Zimbabwe's Brendan Taylor named as 12th man.
"The panel had an extremely difficult choice of selecting a 12-member squad at the back of an outstanding tournament, highlighted by some eye-catching individual performances including two double-centuries, 38 centuries, two hat-tricks and 28 four-wicket hauls," ICC general manager Geoff Allardice said.
6. F1: Sebastian Vettel romps home in Malaysia
The 17th edition of the Malaysian Grand Prix at Sepang will be memorable for
The 17th edition of the Malaysian Grand Prix at Sepang will be memorable for
Sebastian Vettel as he drove Ferrari to its first victory since the 2013 Spanish Grand Prix. It was also his own first win since that year’s season finale in Brazil.By beating Mercedes’ Lewis Hamilton, Vettel may have just made the F1 that much more interesting as, otherwise, it was becoming an all-Mercedes affair. Hamilton took the pole after acing a wet circuit on Saturday.
Vettel chose to stay out during an early safety car period — following Marcus Ericsson’s spin into the Turn 1 gravel on lap four — and assumed the lead.
Neither Hamilton nor his Merc teammate Nico Rosberg seemed to have the will or the power to pass the German.
7. ICICI Bank to repartriate capital from overseas subsidiaries
ICICI Bank has commenced its efforts to repatriate capital worth $175 million and C$155 million from its overseas banking subsidiaries (UK and Canada) to optimise capital for the ICICI Group and improve its return on equity.
The country’s largest private bank had received approvals and repatriated $100 million of capital from its wholly owned subsidiary in the United Kingdom (ICICI Bank UK) in March 2013 and C$75 million from its wholly owned subsidiary in Canada (ICICI Bank Canada) in May 2013.
The bank had in March 2015 received further equity capital repatriation of C$80 million from ICICI Bank Canada and $75 million from ICICI Bank UK.
ICICI Bank Canada and ICICI Bank UK had capital adequacy ratios of 33.2 per cent and 21.8 per cent, respectively as of December 31, 2014.
Post the repatriation, the share capital of ICICI Bank Canada is C$777 million and of ICICI Bank UK is $420 million, and their capital adequacy ratios continue to be strong.
ICICI Bank Limited already has a strong capital adequacy ratio, and the above return of capital would further improve the same and enhance ICICI Bank's ability to optimise capital deployment and return on equity.
ICICI Bank has commenced its efforts to repatriate capital worth $175 million and C$155 million from its overseas banking subsidiaries (UK and Canada) to optimise capital for the ICICI Group and improve its return on equity.
The country’s largest private bank had received approvals and repatriated $100 million of capital from its wholly owned subsidiary in the United Kingdom (ICICI Bank UK) in March 2013 and C$75 million from its wholly owned subsidiary in Canada (ICICI Bank Canada) in May 2013.
The bank had in March 2015 received further equity capital repatriation of C$80 million from ICICI Bank Canada and $75 million from ICICI Bank UK.
ICICI Bank Canada and ICICI Bank UK had capital adequacy ratios of 33.2 per cent and 21.8 per cent, respectively as of December 31, 2014.
Post the repatriation, the share capital of ICICI Bank Canada is C$777 million and of ICICI Bank UK is $420 million, and their capital adequacy ratios continue to be strong.
ICICI Bank Limited already has a strong capital adequacy ratio, and the above return of capital would further improve the same and enhance ICICI Bank's ability to optimise capital deployment and return on equity.
8. SBI Cards launches SimplySAVE card
SBI Cards and Payment Services (SBI Card) today launched its SimplySAVE SBI credit card with features designed to complement the spending habits of credit card users.
“Inspired by the spending habits of young Indians, this card offers a rewarding experience while dining, watching movies or shopping at supermarkets. The SimplySAVE card offers additional value from the very first swipe as cardholders get 2,000 reward points on spending Rs. 2,000 within 60 days of card issuance,” SBI Card said in a statement
SBI Cards and Payment Services Pvt Ltd (SBI Card) is a joint venture between State Bank of India and GE Capital.
Highlighting the idea behind the launch, SBI Card said, “Today’s younger generation is more spontaneous and outgoing and likes newer experiences such as trying new cuisines, enjoying new age cinema or simply taking long drives with friends and family at the first possible excuse…While consumers earn 10 reward points per Rs. 100 spent on dining and movies, they earn the same rewards for their departmental store and grocery spends as well. Even purchases made on other categories earn the consumer 1 reward point for every Rs. 100 spent. The SimplySAVE SBI Card also offers 2.5 per cent fuel surcharge waiver at all fuel stations across the country, adding to the savings.”
Created using a unique ‘Mandala’ (a symbolic representation of the Universe) design in blue, the card face depicts a whole universe of savings. The appearance of the card is contemporary and stylish catering to the style and aspirations of today’s credit card users, the statement said.
9. Max Life, Lakshmi Vilas Bank in bancassurance pact
Max Life Insurance and Lakshmi Vilas Bank have entered into a 5 year bancassurance tie-up for distribution of the former’s life insurance products through the 400 branches of the private sector bank.
Under this alliance, Lakshmi Vilas Bank has become a corporate agent for Max Life Insurance and will offer a complete bouquet of life insurance solutions and post sales services to its customers.
The tie up will help Max Life Insurance reach out to an additional 25 lakh customers of the Karur-headquartered bank and strengthen its multi-channel distribution channel, primarily in the southern region, where Lakshmi Vilas Bank has a strong presence. Currently, over 20% of the new business for Max Life comes from South India. Of the total 400 branches of Lakshmi Vilas Bank, as many as 320 are located in South India.
Lakshmi Vilas Bank, which started distributing financial products from 2002-03 to increase its fee-based income, is looking at the alliance to enhance the insurance product bouquet.
10. Centre extends Indian Bank chief Bhasin's term
The Centre has allowed TM Bhasin,Chairman and Managing Director of Indian Bank, to serve at the helm of the bank for another 14 months.
Bhasin, whose five year term is to end on March 31, will now serve in the capacity of chief executive officer and managing director--and not as CMD-- of this chennai-based lender till May 2016--when he turns 60.
He was appointed as CMD of Indian Bank on April 1,2010 for a five year term.
11. Katsushi Inoue appointed as President & CEO of Honda Cars India Ltd
Katsushi Inoue was on 30 March 2015 appointed as President and Chief Executive Officer (CEO) of Honda Cars India Limited (HCIL).
He will take charge on 1 April 2015. He will succeed Hironori Kanayama. Hironori Kanayama is due to retire on 1 April 2015.
Hironori Kanayama has been HCIL president & CEO for the past three years since assuming this position in April 2012.
Currently, he is working as General Manager in Marketing Planning office in Japan. He has been associated with Honda Motor Co for over 29 years.
SBI Cards and Payment Services (SBI Card) today launched its SimplySAVE SBI credit card with features designed to complement the spending habits of credit card users.
“Inspired by the spending habits of young Indians, this card offers a rewarding experience while dining, watching movies or shopping at supermarkets. The SimplySAVE card offers additional value from the very first swipe as cardholders get 2,000 reward points on spending Rs. 2,000 within 60 days of card issuance,” SBI Card said in a statement
SBI Cards and Payment Services Pvt Ltd (SBI Card) is a joint venture between State Bank of India and GE Capital.
Highlighting the idea behind the launch, SBI Card said, “Today’s younger generation is more spontaneous and outgoing and likes newer experiences such as trying new cuisines, enjoying new age cinema or simply taking long drives with friends and family at the first possible excuse…While consumers earn 10 reward points per Rs. 100 spent on dining and movies, they earn the same rewards for their departmental store and grocery spends as well. Even purchases made on other categories earn the consumer 1 reward point for every Rs. 100 spent. The SimplySAVE SBI Card also offers 2.5 per cent fuel surcharge waiver at all fuel stations across the country, adding to the savings.”
Created using a unique ‘Mandala’ (a symbolic representation of the Universe) design in blue, the card face depicts a whole universe of savings. The appearance of the card is contemporary and stylish catering to the style and aspirations of today’s credit card users, the statement said.
9. Max Life, Lakshmi Vilas Bank in bancassurance pact
Max Life Insurance and Lakshmi Vilas Bank have entered into a 5 year bancassurance tie-up for distribution of the former’s life insurance products through the 400 branches of the private sector bank.
Under this alliance, Lakshmi Vilas Bank has become a corporate agent for Max Life Insurance and will offer a complete bouquet of life insurance solutions and post sales services to its customers.
The tie up will help Max Life Insurance reach out to an additional 25 lakh customers of the Karur-headquartered bank and strengthen its multi-channel distribution channel, primarily in the southern region, where Lakshmi Vilas Bank has a strong presence. Currently, over 20% of the new business for Max Life comes from South India. Of the total 400 branches of Lakshmi Vilas Bank, as many as 320 are located in South India.
Lakshmi Vilas Bank, which started distributing financial products from 2002-03 to increase its fee-based income, is looking at the alliance to enhance the insurance product bouquet.
10. Centre extends Indian Bank chief Bhasin's term
The Centre has allowed TM Bhasin,Chairman and Managing Director of Indian Bank, to serve at the helm of the bank for another 14 months.
Bhasin, whose five year term is to end on March 31, will now serve in the capacity of chief executive officer and managing director--and not as CMD-- of this chennai-based lender till May 2016--when he turns 60.
He was appointed as CMD of Indian Bank on April 1,2010 for a five year term.
11. Katsushi Inoue appointed as President & CEO of Honda Cars India Ltd
Katsushi Inoue was on 30 March 2015 appointed as President and Chief Executive Officer (CEO) of Honda Cars India Limited (HCIL).
He will take charge on 1 April 2015. He will succeed Hironori Kanayama. Hironori Kanayama is due to retire on 1 April 2015.
Hironori Kanayama has been HCIL president & CEO for the past three years since assuming this position in April 2012.
Currently, he is working as General Manager in Marketing Planning office in Japan. He has been associated with Honda Motor Co for over 29 years.
12. Madan Mohan Malaviya posthumously awarded Bharat Ratna
Freedom fighter and educationist, Pandit Madan Mohan Malaviya on 30 March 2015 was conferred the highest civilian award of the country Bharat Ratna (posthumous). His family members received the award from President Prabab Mukherjee at a function in the Ashoka hall of the Rashtrapati Bhavan.
The award was given to Pt Madan Mohan Malaviya or Mahamana Malaviya’s family for his outstanding work.
13.Balbir Singh Senior conferred with Major Dhyan Chand Lifetime Achievement Award of Hockey India
Hockey India conferred Major Dhyan Chand Lifetime Achievement Award on legendary Balbir Singh Senior. As an award, he received a trophy and a cash prize of 30 lakh rupees.
Balbir Singh Senior was a member of three Olympic gold medal winning Indian team, viz., London Olympics (1948), Helsinki Olympics (1952) and Melbourne Olympics (1956). He was the Vice Captain of the Indian Hockey team during Helsinki Olympics and Captain during Melbourne Olympics.
His 1952 record of most goals (five) in an Olympic final still remains unbeaten and he also figures in the list of 16 iconic Olympians of all-time.
Freedom fighter and educationist, Pandit Madan Mohan Malaviya on 30 March 2015 was conferred the highest civilian award of the country Bharat Ratna (posthumous). His family members received the award from President Prabab Mukherjee at a function in the Ashoka hall of the Rashtrapati Bhavan.
The award was given to Pt Madan Mohan Malaviya or Mahamana Malaviya’s family for his outstanding work.
13.Balbir Singh Senior conferred with Major Dhyan Chand Lifetime Achievement Award of Hockey India
Hockey India conferred Major Dhyan Chand Lifetime Achievement Award on legendary Balbir Singh Senior. As an award, he received a trophy and a cash prize of 30 lakh rupees.
Balbir Singh Senior was a member of three Olympic gold medal winning Indian team, viz., London Olympics (1948), Helsinki Olympics (1952) and Melbourne Olympics (1956). He was the Vice Captain of the Indian Hockey team during Helsinki Olympics and Captain during Melbourne Olympics.
His 1952 record of most goals (five) in an Olympic final still remains unbeaten and he also figures in the list of 16 iconic Olympians of all-time.
1.Centre sanctions Rs. 200 cr. for flood-hit J&K
The Centre on Monday sanctioned Rs. 200 crore for immediate rescue and relief operations in flood-hit Jammu and Kashmir, said Chief Minister Mufti Sayeed to the Assembly in Jammu today, according to an official press release which came in the form of a clarification.
The clarification was issued after Mr. Sayeed told the Assembly that “I have authorised release of Rs 225 crore in favour of Divisional Commissioner, Kashmir. and Rs 10 crore in favour of Divisional Commissioner, Jammu and SDRF (State Disaster Relief Fund) for rescue and relief.”
The official statement, quoting Mr. Sayeed, later said, “Central government has granted Rs 200 crore as immediate relief fund for floods.” Out of this, Rs. 25 crore has been released in favour of Divisional Commissioner, Kashmir, and Rs. 10 crore in favour of Divisional Commissioner, Jammu.
The Centre on Monday sanctioned Rs. 200 crore for immediate rescue and relief operations in flood-hit Jammu and Kashmir, said Chief Minister Mufti Sayeed to the Assembly in Jammu today, according to an official press release which came in the form of a clarification.
The clarification was issued after Mr. Sayeed told the Assembly that “I have authorised release of Rs 225 crore in favour of Divisional Commissioner, Kashmir. and Rs 10 crore in favour of Divisional Commissioner, Jammu and SDRF (State Disaster Relief Fund) for rescue and relief.”
The official statement, quoting Mr. Sayeed, later said, “Central government has granted Rs 200 crore as immediate relief fund for floods.” Out of this, Rs. 25 crore has been released in favour of Divisional Commissioner, Kashmir, and Rs. 10 crore in favour of Divisional Commissioner, Jammu.
2. JICA inks pact with Centre for Rs. 1,800 cr Rengali irrigation project loan
The Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India here on Monday to provide a 33,959 million yen (₹1,800 crore approximately) Japanese Official Development Assistance (ODA) loan to increase irrigated area in Phase 2 of the Rengali Irrigation Project in Odisha.
The agreement was signed by Shinya Ejima, Chief Representative, JICA India, and Tarun Bajaj, Joint Secretary, Department of Economic Affairs, Finance Ministry.
3. TCS shareholders meeting to approve CMC amalgamation
India’s leading software services exporter, Tata Consultancy Services (TCS) has called for a meeting on its shareholders on April 28, 2015 in Mumbai to approve the proposed scheme of amalgamation of its subsidiary, CMC.
The High Court-appointed shareholders meeting follows the clearance the scheme of amalgamation received earlier from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
TCS had on October 16, 2014 informed the stock exchanges that its Board of directors had approved the merger between the two companies. The date for the proposed scheme is April 1, 2015.
4. Sahoo becomes Wholetime Member of Competition Commission
Former SEBI Whole time Member MS Sahoo has joined the Competition Commission of India as a Wholetime Member.
Sahoo was till recently Secretary at the Company Secretaries’ Institute
The other serving wholetime members of the competition watchdog are SL Bunker, Sudhir Mital, Augustine Peter and UC Nahta.
India’s leading software services exporter, Tata Consultancy Services (TCS) has called for a meeting on its shareholders on April 28, 2015 in Mumbai to approve the proposed scheme of amalgamation of its subsidiary, CMC.
The High Court-appointed shareholders meeting follows the clearance the scheme of amalgamation received earlier from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
TCS had on October 16, 2014 informed the stock exchanges that its Board of directors had approved the merger between the two companies. The date for the proposed scheme is April 1, 2015.
4. Sahoo becomes Wholetime Member of Competition Commission
Former SEBI Whole time Member MS Sahoo has joined the Competition Commission of India as a Wholetime Member.
Sahoo was till recently Secretary at the Company Secretaries’ Institute
The other serving wholetime members of the competition watchdog are SL Bunker, Sudhir Mital, Augustine Peter and UC Nahta.
5. New Zealanders dominate ICC team of the tournament
Five players from World Cup runners-up New Zealand and three from winners Australia were named in the International Cricket Council's (ICC) team of the tournament on Monday.
New Zealand captain Brendon McCullum was joined by fellow Kiwis Martin Guptill, Corey Anderson, Daniel Vettori and Trent Boult following their team's brilliant run to the final.
Australia, who crushed their neighbours by seven wickets in the showpiece match in Melbourne on Sunday, were represented by batsman Steven Smith, all-rounder Glenn Maxwell and pace bowler Mitchell Starc, who was named player of the tournament.
South Africans AB de Villiers and Morne Morkel and Sri Lanka batsman Kumar Sangakkara completed the side with Zimbabwe's Brendan Taylor named as 12th man.
"The panel had an extremely difficult choice of selecting a 12-member squad at the back of an outstanding tournament, highlighted by some eye-catching individual performances including two double-centuries, 38 centuries, two hat-tricks and 28 four-wicket hauls," ICC general manager Geoff Allardice said.
Five players from World Cup runners-up New Zealand and three from winners Australia were named in the International Cricket Council's (ICC) team of the tournament on Monday.
New Zealand captain Brendon McCullum was joined by fellow Kiwis Martin Guptill, Corey Anderson, Daniel Vettori and Trent Boult following their team's brilliant run to the final.
Australia, who crushed their neighbours by seven wickets in the showpiece match in Melbourne on Sunday, were represented by batsman Steven Smith, all-rounder Glenn Maxwell and pace bowler Mitchell Starc, who was named player of the tournament.
South Africans AB de Villiers and Morne Morkel and Sri Lanka batsman Kumar Sangakkara completed the side with Zimbabwe's Brendan Taylor named as 12th man.
"The panel had an extremely difficult choice of selecting a 12-member squad at the back of an outstanding tournament, highlighted by some eye-catching individual performances including two double-centuries, 38 centuries, two hat-tricks and 28 four-wicket hauls," ICC general manager Geoff Allardice said.
6. F1: Sebastian Vettel romps home in Malaysia
The 17th edition of the Malaysian Grand Prix at Sepang will be memorable for
The 17th edition of the Malaysian Grand Prix at Sepang will be memorable for
Sebastian Vettel as he drove Ferrari to its first victory since the 2013 Spanish Grand Prix. It was also his own first win since that year’s season finale in Brazil.By beating Mercedes’ Lewis Hamilton, Vettel may have just made the F1 that much more interesting as, otherwise, it was becoming an all-Mercedes affair. Hamilton took the pole after acing a wet circuit on Saturday.
Vettel chose to stay out during an early safety car period — following Marcus Ericsson’s spin into the Turn 1 gravel on lap four — and assumed the lead.
Neither Hamilton nor his Merc teammate Nico Rosberg seemed to have the will or the power to pass the German.
7. ICICI Bank to repartriate capital from overseas subsidiaries
ICICI Bank has commenced its efforts to repatriate capital worth $175 million and C$155 million from its overseas banking subsidiaries (UK and Canada) to optimise capital for the ICICI Group and improve its return on equity.
The country’s largest private bank had received approvals and repatriated $100 million of capital from its wholly owned subsidiary in the United Kingdom (ICICI Bank UK) in March 2013 and C$75 million from its wholly owned subsidiary in Canada (ICICI Bank Canada) in May 2013.
The bank had in March 2015 received further equity capital repatriation of C$80 million from ICICI Bank Canada and $75 million from ICICI Bank UK.
ICICI Bank Canada and ICICI Bank UK had capital adequacy ratios of 33.2 per cent and 21.8 per cent, respectively as of December 31, 2014.
Post the repatriation, the share capital of ICICI Bank Canada is C$777 million and of ICICI Bank UK is $420 million, and their capital adequacy ratios continue to be strong.
ICICI Bank Limited already has a strong capital adequacy ratio, and the above return of capital would further improve the same and enhance ICICI Bank's ability to optimise capital deployment and return on equity.
ICICI Bank has commenced its efforts to repatriate capital worth $175 million and C$155 million from its overseas banking subsidiaries (UK and Canada) to optimise capital for the ICICI Group and improve its return on equity.
The country’s largest private bank had received approvals and repatriated $100 million of capital from its wholly owned subsidiary in the United Kingdom (ICICI Bank UK) in March 2013 and C$75 million from its wholly owned subsidiary in Canada (ICICI Bank Canada) in May 2013.
The bank had in March 2015 received further equity capital repatriation of C$80 million from ICICI Bank Canada and $75 million from ICICI Bank UK.
ICICI Bank Canada and ICICI Bank UK had capital adequacy ratios of 33.2 per cent and 21.8 per cent, respectively as of December 31, 2014.
Post the repatriation, the share capital of ICICI Bank Canada is C$777 million and of ICICI Bank UK is $420 million, and their capital adequacy ratios continue to be strong.
ICICI Bank Limited already has a strong capital adequacy ratio, and the above return of capital would further improve the same and enhance ICICI Bank's ability to optimise capital deployment and return on equity.
8. SBI Cards launches SimplySAVE card
SBI Cards and Payment Services (SBI Card) today launched its SimplySAVE SBI credit card with features designed to complement the spending habits of credit card users.
“Inspired by the spending habits of young Indians, this card offers a rewarding experience while dining, watching movies or shopping at supermarkets. The SimplySAVE card offers additional value from the very first swipe as cardholders get 2,000 reward points on spending Rs. 2,000 within 60 days of card issuance,” SBI Card said in a statement
SBI Cards and Payment Services Pvt Ltd (SBI Card) is a joint venture between State Bank of India and GE Capital.
Highlighting the idea behind the launch, SBI Card said, “Today’s younger generation is more spontaneous and outgoing and likes newer experiences such as trying new cuisines, enjoying new age cinema or simply taking long drives with friends and family at the first possible excuse…While consumers earn 10 reward points per Rs. 100 spent on dining and movies, they earn the same rewards for their departmental store and grocery spends as well. Even purchases made on other categories earn the consumer 1 reward point for every Rs. 100 spent. The SimplySAVE SBI Card also offers 2.5 per cent fuel surcharge waiver at all fuel stations across the country, adding to the savings.”
Created using a unique ‘Mandala’ (a symbolic representation of the Universe) design in blue, the card face depicts a whole universe of savings. The appearance of the card is contemporary and stylish catering to the style and aspirations of today’s credit card users, the statement said.
9. Max Life, Lakshmi Vilas Bank in bancassurance pact
Max Life Insurance and Lakshmi Vilas Bank have entered into a 5 year bancassurance tie-up for distribution of the former’s life insurance products through the 400 branches of the private sector bank.
Under this alliance, Lakshmi Vilas Bank has become a corporate agent for Max Life Insurance and will offer a complete bouquet of life insurance solutions and post sales services to its customers.
The tie up will help Max Life Insurance reach out to an additional 25 lakh customers of the Karur-headquartered bank and strengthen its multi-channel distribution channel, primarily in the southern region, where Lakshmi Vilas Bank has a strong presence. Currently, over 20% of the new business for Max Life comes from South India. Of the total 400 branches of Lakshmi Vilas Bank, as many as 320 are located in South India.
Lakshmi Vilas Bank, which started distributing financial products from 2002-03 to increase its fee-based income, is looking at the alliance to enhance the insurance product bouquet.
10. Centre extends Indian Bank chief Bhasin's term
The Centre has allowed TM Bhasin,Chairman and Managing Director of Indian Bank, to serve at the helm of the bank for another 14 months.
Bhasin, whose five year term is to end on March 31, will now serve in the capacity of chief executive officer and managing director--and not as CMD-- of this chennai-based lender till May 2016--when he turns 60.
He was appointed as CMD of Indian Bank on April 1,2010 for a five year term.
11. Katsushi Inoue appointed as President & CEO of Honda Cars India Ltd
Katsushi Inoue was on 30 March 2015 appointed as President and Chief Executive Officer (CEO) of Honda Cars India Limited (HCIL).
He will take charge on 1 April 2015. He will succeed Hironori Kanayama. Hironori Kanayama is due to retire on 1 April 2015.
Hironori Kanayama has been HCIL president & CEO for the past three years since assuming this position in April 2012.
Currently, he is working as General Manager in Marketing Planning office in Japan. He has been associated with Honda Motor Co for over 29 years.
SBI Cards and Payment Services (SBI Card) today launched its SimplySAVE SBI credit card with features designed to complement the spending habits of credit card users.
“Inspired by the spending habits of young Indians, this card offers a rewarding experience while dining, watching movies or shopping at supermarkets. The SimplySAVE card offers additional value from the very first swipe as cardholders get 2,000 reward points on spending Rs. 2,000 within 60 days of card issuance,” SBI Card said in a statement
SBI Cards and Payment Services Pvt Ltd (SBI Card) is a joint venture between State Bank of India and GE Capital.
Highlighting the idea behind the launch, SBI Card said, “Today’s younger generation is more spontaneous and outgoing and likes newer experiences such as trying new cuisines, enjoying new age cinema or simply taking long drives with friends and family at the first possible excuse…While consumers earn 10 reward points per Rs. 100 spent on dining and movies, they earn the same rewards for their departmental store and grocery spends as well. Even purchases made on other categories earn the consumer 1 reward point for every Rs. 100 spent. The SimplySAVE SBI Card also offers 2.5 per cent fuel surcharge waiver at all fuel stations across the country, adding to the savings.”
Created using a unique ‘Mandala’ (a symbolic representation of the Universe) design in blue, the card face depicts a whole universe of savings. The appearance of the card is contemporary and stylish catering to the style and aspirations of today’s credit card users, the statement said.
9. Max Life, Lakshmi Vilas Bank in bancassurance pact
Max Life Insurance and Lakshmi Vilas Bank have entered into a 5 year bancassurance tie-up for distribution of the former’s life insurance products through the 400 branches of the private sector bank.
Under this alliance, Lakshmi Vilas Bank has become a corporate agent for Max Life Insurance and will offer a complete bouquet of life insurance solutions and post sales services to its customers.
The tie up will help Max Life Insurance reach out to an additional 25 lakh customers of the Karur-headquartered bank and strengthen its multi-channel distribution channel, primarily in the southern region, where Lakshmi Vilas Bank has a strong presence. Currently, over 20% of the new business for Max Life comes from South India. Of the total 400 branches of Lakshmi Vilas Bank, as many as 320 are located in South India.
Lakshmi Vilas Bank, which started distributing financial products from 2002-03 to increase its fee-based income, is looking at the alliance to enhance the insurance product bouquet.
10. Centre extends Indian Bank chief Bhasin's term
The Centre has allowed TM Bhasin,Chairman and Managing Director of Indian Bank, to serve at the helm of the bank for another 14 months.
Bhasin, whose five year term is to end on March 31, will now serve in the capacity of chief executive officer and managing director--and not as CMD-- of this chennai-based lender till May 2016--when he turns 60.
He was appointed as CMD of Indian Bank on April 1,2010 for a five year term.
11. Katsushi Inoue appointed as President & CEO of Honda Cars India Ltd
Katsushi Inoue was on 30 March 2015 appointed as President and Chief Executive Officer (CEO) of Honda Cars India Limited (HCIL).
He will take charge on 1 April 2015. He will succeed Hironori Kanayama. Hironori Kanayama is due to retire on 1 April 2015.
Hironori Kanayama has been HCIL president & CEO for the past three years since assuming this position in April 2012.
Currently, he is working as General Manager in Marketing Planning office in Japan. He has been associated with Honda Motor Co for over 29 years.
12. Madan Mohan Malaviya posthumously awarded Bharat Ratna
Freedom fighter and educationist, Pandit Madan Mohan Malaviya on 30 March 2015 was conferred the highest civilian award of the country Bharat Ratna (posthumous). His family members received the award from President Prabab Mukherjee at a function in the Ashoka hall of the Rashtrapati Bhavan.
The award was given to Pt Madan Mohan Malaviya or Mahamana Malaviya’s family for his outstanding work.
13.Balbir Singh Senior conferred with Major Dhyan Chand Lifetime Achievement Award of Hockey India
Hockey India conferred Major Dhyan Chand Lifetime Achievement Award on legendary Balbir Singh Senior. As an award, he received a trophy and a cash prize of 30 lakh rupees.
Balbir Singh Senior was a member of three Olympic gold medal winning Indian team, viz., London Olympics (1948), Helsinki Olympics (1952) and Melbourne Olympics (1956). He was the Vice Captain of the Indian Hockey team during Helsinki Olympics and Captain during Melbourne Olympics.
His 1952 record of most goals (five) in an Olympic final still remains unbeaten and he also figures in the list of 16 iconic Olympians of all-time.
Freedom fighter and educationist, Pandit Madan Mohan Malaviya on 30 March 2015 was conferred the highest civilian award of the country Bharat Ratna (posthumous). His family members received the award from President Prabab Mukherjee at a function in the Ashoka hall of the Rashtrapati Bhavan.
The award was given to Pt Madan Mohan Malaviya or Mahamana Malaviya’s family for his outstanding work.
13.Balbir Singh Senior conferred with Major Dhyan Chand Lifetime Achievement Award of Hockey India
Hockey India conferred Major Dhyan Chand Lifetime Achievement Award on legendary Balbir Singh Senior. As an award, he received a trophy and a cash prize of 30 lakh rupees.
Balbir Singh Senior was a member of three Olympic gold medal winning Indian team, viz., London Olympics (1948), Helsinki Olympics (1952) and Melbourne Olympics (1956). He was the Vice Captain of the Indian Hockey team during Helsinki Olympics and Captain during Melbourne Olympics.
His 1952 record of most goals (five) in an Olympic final still remains unbeaten and he also figures in the list of 16 iconic Olympians of all-time.
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