SBI in Myanmar

Yangon/Mumbai, March 6: The SBI is among the four new foreign banks given preliminary approval to open 100 per cent-owned branches in Myanmar, the latest move by the Southeast Asian nation to woo investment to the country long ruled by the military and hit by western sanctions. The four banks that have been given an initial approval by the Central Bank of Myanmar are Vietnam's Bank for Investment and Development, Taiwan's E.SUN Commercial Bank, South Korea's Shinhan Bank and the SBI.

Selloff plan

New Delhi, March 6: Setting the ball rolling on the strategic sale of state-owned companies, the department of investment and public asset management and NITI Aayog have started discussions to identify PSUs that can be sold outright during the next fiscal.

Sick firms

New Delhi, March 6: Ahead of setting up the National Company Law Tribunal (NCLT), the government has come out with draft rules pertaining to the revival and rehabilitation of sick companies under the companies law. NCLT, proposed under the Companies Act, 2013, would replace the Company Law Board.

SRF approval

New Delhi, March 6: SRF Ltd has got fair trade regulator CCI's nod to acquire US-based DuPont's pharmaceutical propellant business under the Dymel brand.