State Bank of India Chairman Dinesh Khara is likely to get an extension as the government is considering relaxing the retirement age of chiefs of all public sector banks and LIC.
The proposal before the government also includes hiking the retirement age limit of managing directors of public sector banks (PSBs) to 62 years, from the current 60 years, a senior government official said on Saturday.
Veteran banker Khara took over as the chairman of SBI in October 2020 for three years.
Under existing norms, the SBI chairman can hold the post until the age of 63 years. Khara attains 63 years in August next year.
"There is a discussion to increase the age limit for retirement of chiefs of PSBs and Life Insurance Corp (LIC). Simultaneously, discussions are on for raising superannuation age for managing directors of PSBs to 62 years from 60 years," the official said.
A final decision is yet to be taken on the retirement age for heads of PSBs and LIC, the official added.
Currently, the ...

banks

Press Trust of India

Mining magnate Anil Agarwal's Vedanta Ltd has won an arbitration against a demand for a higher payout from its prolific Rajasthan oil and gas fields after disallowance of Rs 9,545 crore (USD 1.16 billion) in certain costs incurred, the company said.
The government has sought additional profit petroleum (or its share from the oil and gas fields) after it reallocated certain costs between the fields in the block and disallowed a portion of the cost incurred on laying a pipeline to evacuate oil produced from the Rajasthan block.
As per the contract, companies are allowed to recover all costs incurred before splitting profit in a predetermined ratio with the government. If a certain portion of cost is disallowed, it would result in higher profits and a resultant higher share to the government. Vedanta had challenged such a demand before an arbitration tribunal.
"The company has received an arbitration award dated August 23, 2023... upholding the contention of the company that additional

Vedanta

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Telecom subscriber base in the country grew marginally to 1,173.89 million at the end of June on account of new customer additions led by Reliance Jio, sector regulator Trai said on Thursday.
The subscriber base growth was driven by mobile telephony where Reliance Jio added over 2.27 million new customers and Bharti Airtel added 1.4 million customers.
"The number of telephone subscribers in India increased from 1,172.57 million at the end of May-23 to 1,173.89 million at the end of June-23, thereby showing a monthly growth rate of 0.11 per cent," the Telecom Regulatory Authority of India (Trai) said in its monthly subscriber report.
However, the overall growth was mitigated by the loss of subscribers by state-owned BSNL, MTNL and Vodafone Idea (VIL).
BSNL lost 1.87 million mobile subscribers, VIL lost 1.28 million subscribers and MTNL (1,52,912 subscribers).
The net addition in wireless subscribers of telecom operators in the month of June was 3,73,602.
"Total wireless subscriber

Telecom

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'Gadar 2' passes the ₹400 crores mark at the box office. In the meantime, in India, 'Jailer' is going to enter the Rs 300-crore club. On August 23, the film managed to earn Rs 3.65 crores

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Maharashtra Minister Ravindra Chavan on Sunday said he has ordered a special audit of the work done on the Mumbai-Goa Highway in the last 12 years and reason for the delay in the project.
The PWD minister's announcement has come a day after he got stuck in traffic for more than two hours on the highway while inspecting the ongoing repair work on the route.
The Navi Mumbai traffic police has banned the movement of heavy vehicles on Mumbai-Goa highway from Sunday till the end of the Ganesh festival to be held next month.
Talking to reporters after an event in Dombivili town, Chavan said Rs 4,500 crore have been disbursed for the project, but under some pretext the work has been delayed.
A special audit will be conducted on the work done on the project over the last 12 years, he said.
The work on the highway will be completed by end of this year, Chavan said, adding that a lane of the highway will be opened for people from Konkan who are travelling for the upcoming Ganesh ...

Construction of the Kanpur-Lucknow expressway is expected to start from December this year, as nearly 70 per cent of the land acquisition is complete.

National Highways, NHAI

Delhi Environment and Forest Minister Gopal Rai on Sunday launched a portal to enhance public awareness about the forest and wildlife sanctuary areas that need protection.
By knowing which regions are designated for conservation, Delhi residents can contribute to the preservation of their surroundings, a statement quoted the minister as saying.
The portal, evanlekh.eforest.delhi.gov.in, introduces several features that empower citizens and streamline information dissemination.
It utilises a geographic information system (GIS) platform to visualize data effectively, aiming to enhance the ease of doing business and living in Delhi. Also, users can generate KML files on the portal.
It currently provides information on various aspects, including protected forest areas, reserve forest areas, morphological details, wildlife sanctuaries, buffer areas of wildlife sanctuaries, and administrative boundaries of the Department of Forest and Wildlife.
Looking ahead, the portal's future ...

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Centre considers raising retirement age for public sector bank heads, MDs

Vedanta wins arbitration against govt in $1.1 bn cost disallowance case