Page 18 - Finance Sector

Arvindar Singh Sahney will be new chairman of Indian Oil Corporation

Arvindar Singh Sahney will be the new chairman of Indian Oil Corporation, the nation's largest oil firm, according to an order issued by the petroleum ministry on Wednesday. Sahney, 54, is currently Executive Director (Business Development - Petrochemicals), Indian Oil Corporation Ltd (IOC). He was in August selected to be the company's director for business development but has now been appointed as the chairman of the firm. "The Appointments Committee of the Cabinet (ACC) has approved the proposal of this ministry for appointment of Shri Arvindar Singh Sahney, Executive Director, IOC to the post of Chairman, IOC, for a period of five years with effect from the date of his assumption of charge of the post, or till the date of his superannuation, or until further order, whichever is the earliest," the Ministry of Petroleum and Natural Gas said in an order. The post of chairman IOC fell vacant after Shrikant Madhav Vaidya completed his extended tenure on August 31, 2024. Currently, .

COP29: Rich nations try to shift pollution responsibility to India, China

But Global North is sidestepping their responsibilities and deflecting the core issue of historical pollution, participants said

NBFC-MFI sector growth to nosedive to 4% in FY25: CareEdge Ratings

As the sector faces these multifaceted challenges, vigilant monitoring and proactive management will be key to sustaining its viability and support for underserved communities

DBS Bank India awaits RBI nod for new CEO as incumbent Shome set to retire

Following a successful career at the helm of DBS Bank India since April 2015, Shome had indicated his desire to retire some time ago

No plan to bring clawback clause, says LIC MD & CEO Siddhartha Mohanty

LIC launched 32 products on October 1, 2024, as per the revised norms, and currently, the corporation has 35 products

Non-disclosure of foreign property invites Rs 10 lakh penalty per year

Rental income from a foreign property is taxed under the head "Income from House Property". This income must be declared in the Foreign Source Income schedule of the ITR

BS BFSI Summit: 'Investors flock to GIFT City as opportunities open up'

List of banks, asset managers, insurers swells amid growing business opportunities

BS BFSI Summit: Insurers hope amendment Bill will drive customer engagement

The industry leaders were discussing the future of the sector at Business Standard's BFSI Summit 2024 on Friday

BFSI Summit: Fear in people main factor behind cyberfraud, says SBI's Chugh

In cybersecurity, social engineering refers to manipulating a victim to gain control over a computer system or steal personal and financial information

Multi-asset funds: Align fund's equity strategy with your risk appetite

Investors often latch on to an asset class after it has moved up considerably. Even if they are not reactive in their portfolio allocation, it is not an easy strategy to implement

Irdai proposes changes to IAC meeting frequency, notice period, structure

The IAC comprises members representing various sectors, including commerce, industry, agriculture, and consumers, along with the chairperson and members of Irdai as ex officio members

BFSI Summit: Brainstorming by top minds of financial world to start today

Three-day event to explore India's potential and pathways to achieve it

Incremental CD ratio moderates to 77.7%, lowest in nearly 30 months

Meanwhile, the outstanding CD ratio has moderated to 79 per cent from 80.3 per cent in March 2024

Kotak Alternate Asset Managers to raise Rs 1,600 cr via healthcare PE fund

The value of India's hospital industry is expected to reach 18.35 trillion rupees by 2027 and is growing at a pace of around 18.24%, according to government data

Canara Bank led consortium seeks bids to sell Rs 1,226 cr loans in MMOPL

Mumbai Metro One is a SPV that is jointly owned by Reliance Infrastructure and MMRDA

Banking lending to industry up 42.8% in H1FY25; credit to NBFC shrinks

RBI data showed that, in absolute terms, banks lent Rs 1.5 trillion in H1FY25, up from Rs 1.05 trillion in the first half of the previous financial year (H1FY24)

The bottom line: Private lenders stumble sequentially in Q2, PSBs shine

Slippages in unsecured retail portfolios take a toll on private banks; elevated credit costs hurt, too

Yes Bank looking to sell Rs 635 cr of non-performing unsecured loans

JC Flowers seeks counter bids to sell Rs 1,290 cr of erstwhile Yes Bank loans

Pension for gig workers; choosing an EV: Top personal finance stories

This week we write about how white-collar freelance professionals can build a retirement corpus and what to look for in an electric car

Diwali bonus: Splurge, but also repay costly debt, replenish emergency fund

Those without high-cost debt can invest the money to achieve financial goals