Bank of India (BoI) has recovered around Rs 9,000 crore from standby letters of credit issued by other banks. The public sector lender is hopeful of recovering the remaining amount of around Rs 500 crore this month.
The government has begun a search process to find the next chairperson of fair trade regulator the Competition Commission of India (CCI) after the end of the tenure of incumbent D.K. Sikri later this year.
Mounting concerns over rising crude oil prices and uncertainty over government formation in Karnataka brought more bad news for investors on Friday with key indices ending in the red for the fourth consecutive session. While the 30-share Sensex cracked 300 points to close at 34848.30, the broader NSE Nifty fell below the 10600-mark to 10596.40.
Harish Manwani, the non-executive chairman of FMCG giant Hindustan Unilever Ltd (HUL), has been appointed as an independent director of Tata Sons, the holding company of the over $100 billion conglomerate.
The Securities and Exchange Board of India (Sebi) on Friday sought to expand the domestic commodity derivatives market when it proposed that foreign entities that have an exposure to physical commodities in India be allowed to trade.