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Top headlines: PM chairs meet on Covid situation; PNB to raise Rs 6k cr

Business Standard brings you the top headlines on Friday

Narendra Modi | Punjab National Bank | Ford

BS Web Team  |  New Delhi 

PNB, Punjab national bank

PM Modi chairs high-level meeting on Covid-19 situation, vaccination

Prime Minister on Friday chaired a high-level meeting to review the Covid-19 related situation and the vaccination drive in the country, government sources said.

The meeting comes a day after Union Health Secretary Rajesh Bhushan said India is still going through the second wave of Covid-19 and it is not over yet. Read more

PNB board approves Rs 6,000 crore capital raising plan

The board of has approved raising of capital through Basel III-compliant Additional Tier-1 (AT-1) bonds and Tier II bonds up to an amount of Rs 6,000 crore.

The plan approved by the lender’s board includes raising of AT-1 bonds or AT-2 bonds or a combination of both. The capital would be raised in one or more tranches, the lender said in an exchange filing. Read more

Udaan names co-founder Vaibhav Gupta as CEO, eyes IPO in 18-24 months

Udaan, India’s largest b2b e-commerce platform has appointed co-founder Vaibhav Gupta as CEO. This is part of the plan for the next phase of growth for the Bengaluru-based company. The firm said this is in line with the evolution needed to become a publicly listed entity in 18-24 months and become a best-in-class large global public company. Read more

in talks with another auto firm for Chennai unit handover: TN govt

The Motor factory at Maraimalai Nagar wore a deserted look on Friday, a day after the announcement of the company announcing the shut down of its factory. However, in a huge relief to about 2,600 workers, the state government said talks are on between and another automobile major to take over the operations of the unit. Read more

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First Published: Fri, September 10 2021. 17:45 IST