Govt awaits CLB nod on nominated directors
Today, July 05, 2009, 9 hours ago
The ministry of corporate affairs has moved an application in the Company Law Board (CLB) to recall its nominated directors from the board of Mahindra Satyam. The CLB is expected to pass an order on Monday. Corporate affairs minister Salman Khurshid on Saturday said, We have moved an application in the CLB to recall our nominated directors from the board of Mahindra Satyam. The government directors have performed their task efficiently and now it is for the board to decide whether they want the nominated members to continue. On whether all six government nominees will be recalled, Khurshid said, This ...
Banks slash rates as net interest income rise 26%
Today, July 05, 2009, 9 hours ago
Even as Reserve Bank of India has restrained from tinkering with benchmark rates off late some of the leading banks have announced rate cuts. For, there has been a significant growth in net interest income (NII) during 2008-09 which is putting the banks in a comfortable position. A study by FE reveals that NII of 41 banks has increased 26.2% to Rs 1.05 lakh crore during 2008-09, from Rs 83,157 crore in 2007-08. The highest increase in the NII was seen by IDBI Bank, as its NII increased from Rs 676 crore to Rs 1,326 crore. The interest income of ...
Today, July 05, 2009, 9 hours ago
The ministry of corporate affairs has moved an application in the Company Law Board (CLB) to recall its nominated directors from the board of Mahindra Satyam. The CLB is expected to pass an order on Monday. Corporate affairs minister Salman Khurshid on Saturday said, We have moved an application in the CLB to recall our nominated directors from the board of Mahindra Satyam. The government directors have performed their task efficiently and now it is for the board to decide whether they want the nominated members to continue. On whether all six government nominees will be recalled, Khurshid said, This ...
Banks slash rates as net interest income rise 26%
Today, July 05, 2009, 9 hours ago
Even as Reserve Bank of India has restrained from tinkering with benchmark rates off late some of the leading banks have announced rate cuts. For, there has been a significant growth in net interest income (NII) during 2008-09 which is putting the banks in a comfortable position. A study by FE reveals that NII of 41 banks has increased 26.2% to Rs 1.05 lakh crore during 2008-09, from Rs 83,157 crore in 2007-08. The highest increase in the NII was seen by IDBI Bank, as its NII increased from Rs 676 crore to Rs 1,326 crore. The interest income of ...
