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IRCTC profit has grown to Rs 189 crore PDF Print E-mail
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New Delhi-The net profit of Indian Railway Catering and Tourism Corporation Limited (IRCTC) has grown to Rs 189 crore in Financial Year 2015-16 as against Rs 131 crore in Financial Year 2014-15. It is a growth of 44%.During the year 2015-16, a total of Rs 24,023 crore has been collected towards the sale of train tickets through IRCTC portal.The revenue is generated from  service charges on internet tickets and from tourism services etc.The information was given by the Minister of State for Railways  Rajen Gohain in  Rajya Sabha.

Merger of Idea Cellular with Vodafone India Ltd. PDF Print E-mail

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Mumbai-Idea Cellular  approved the scheme of amalgamation of Vodafone India Limited and its wholly owned subsidiary Vodafone Mobile Services Limited with the company.Decision was taken in a meeting of  board of directors of Idea Cellular.The transaction is subject to necessary approvals from concerned authorities, including SEBI, Department of Telecom, RBI and others.Vodafone, Idea to have equal stakes in the merged entity over a period of time, said chiefs of both companies.Kumar Mangalam Birla to be Chairman of the merged company, Vodafone to appoint CFO.

Demonetised notes for 1 crore seized in Mumbai PDF Print E-mail

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Mumbai -Demonetised notes for one crore  were seized from a finance company's office in suburban Mulund .Five persons, including two employees of the financial company, were arrested in this regard.Police told that the banned notes were kept at the company's office located at Parmeshwari Plaza in Mulund, for exchanging them with new currencies last night.Police official  said the seized banknotes comprised 9964 pieces in denomination of 500 rupee and 4998 pieces in denomination of 1000 rupee.

Five subsidiaries banks merge with State Bank of India PDF Print E-mail
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New Delhi -The Cabinet  has approved the proposal of acquisition of subsidiary banks of State Bank of India (SBI) i.e. State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore with State Bank of India. It shall come into effect on 1st April, 2017. The merger is aimed at economies of scale and operational efficiency leading to improved supervision process, compliance and productivity in addition to better risk management.The existing customers of Subsidiary Banks will have access to SBI global network which has presence in all the time zones. 

Bombay Stock Exchange : Nifty crosses 9,200 for first time PDF Print E-mail
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Mumbai- Nifty climbed at Bombay Stock Exchange over the 9,200-mark for the first time and the benchmark Sensex surged 239 points in early hours on Friday, with foreign investors continuing to pump up money.The broader NSE Nifty crossed the key 9,200-mark by surging 64.70 points, or 0.70 per cent, to trade at an all-time high of 9,218.40. The 30-share index surged 238.77 points, or 0.80 per cent, to trade at 29,824.62.Sentiment was up on strong inflow of foreign capital in the Indian bourses and hopes that the government will accelerate its reform agenda following the BJP's huge win in UP and Uttarakhand assembly elections last week.

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