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IDBI To Establish Exclusive Vertical For NPA Recovery

Ahmedabad: As part of their turnaround strategy, IDBI Bank has announced formation of a separate vertical having around 100 dedicated staff to recover their mounting non performing assets (NPAs), which now stand at around Rs. 45,500 crores. Apart from creating this NPA recovery vertical, the bank management has formed a …

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Uber India names Jaiteerth Patwari as senior engineering leader

India is the largest market outside the US for Uber and accounts for about 12 per cent of all Uber trips globally, as of last year. In India, the company operates in 29 cities.(Representative Photo) Cab aggregator Uber has appointed Jaiteerth Patwari the Senior Engineering Leader at its engineering centre …

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Nike to slash 1,400 jobs, cut sneaker styles in shakeup

In this Wednesday, March 22, 2017, file photo, the Nike logo appears above the post where it trades on the floor of the New York Stock Exchange. On Thursday, June 15, 2017, Nike said it plans to cut about 1,400 jobs, reduce the number of sneaker styles it offers by …

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2018 BMW 6 Series GT Revealed

Ahead of global debut at the Frankfurt Motor Show in September this year, the 2018 BMW 6 Series Gran Tourismo has been revealed. The new 6 Series GT replaces the aging 5 Series GT in the automaker’s line-up, having grown larger, sportier and lighter over its predecessor. The new model …

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New Volkswagen Polo: 5 Things You Should Know

The New Volkswagen Polo will be unveiled to the world on 16th June, 2017. This will be the sixth generation Polo and will be coming to India next year as well. Being a completely new-generation, the new VW Polo will sport a new exterior design and will also be slightly …

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CAs could be punished for helping clients in money laundering

The government has moved to punish chartered accountants if they help clients hide ill-gotten wealth through opaque bank transactions, or money laundering, two top officials said on Tuesday. The proposal to tweak the Prevention of Money Laundering Act (PMLA) came from the revenue department on the instruction of the Prime …

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Uber CEO Travis Kalanick takes leave of absence, will lose authority

Uber Technologies Inc Chief Executive Officer Travis Kalanick told employees on Tuesday he will take time away from the company he helped to found, one of a series of measures the ride-hailing company is taking to claw its way out from under a mountain of controversies. Kalanick’s move comes after …

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Germany’s Deutsche Post DHL Group ropes in Ford for electric delivery vans

German logistics group Deutsche Post DHL Group is expanding its foray into electric delivery vans, signing Ford as a components supplier for a new line of larger vehicles, the companies said on Wednesday. Deutsche Post initially developed an electric minivan dubbed Streetscooter for its own operations to avoid inner-city emissions …

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12 Defaulters Identified By RBI To Be Named Soon: Finance Ministry

New Delhi: The Finance Ministry today said names of the 12 big defaulters identified by the RBI for initiation of bankruptcy proceedings will soon be made public. The RBI yesterday said it has identified 12 large loan defaulters who account for 25 per cent of the total NPAs in the …

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Tyre-maker Michelin opens new technology centre in Haryana’s Manesar

A state-of-the-art technology centre of tyre manufacturer Michelin India was inaugurated by French envoy Alexandre Ziegler in Manesar near New Delhi on Tuesday. The sprawling 3,800-sqm Michelin India’s research and development laboratory in Haryana seeks to expand the French major’s research and innovation capacity and strengthens its commitment to the …