- Sunday, March 02, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Thursday, April 6, 2023:
Tata Steel India reported a record operational performance in the last financial year despite a challenging environment, according to the company’s CEO & MD T V Narendran, PTI reported. The company produced 19.87 Million Tonnes (MT) of steel in the last fiscal as against 19.06 MT in 2021-22. During the same period, sales were higher at 18.87 MT compared to 18.27 MT in the year-ago period. “Tata Steel India reported a record-breaking operational performance in FY23 despite a challenging environment,” Narendran said in a statement on Thursday.
Senior dealmaker Ashish Jhaveri has quit Barclays and may join rival investment bank Jefferies as the new head of investment banking (India), Moneycontrol reported citing multiple industries sources. Jhaveri, who currently heads M&A at Barclays, is likely to join the new company over the next few months, one of the sources told the news outlet. “India is a growth market for Jefferies and they want to build the team here,” another source was quoted as saying.
India’s fair-trade regulator CCI on Thursday said it has approved the acquisition of SREI Infrastructure Finance by National Asset Reconstruction Company Ltd (NARCL) and India Debt Resolution Company Ltd (IDRCL), PTI reported. The deal has been cleared under the green channel route. NARCL is an asset-reconstruction company while IDRCL provides debt management services to NARCL. Both entities are backed by the Indian government.
The Supreme Court of India on Thursday asked the country’s finance ministry to file its response in three weeks to a PIL (public interest litigation) seeking directions to create a centralised database providing information about bank accounts, insurance, deposits, post office funds lying in accounts held by those who are no longer alive, PTI reported. The PIL, filed by journalist Sucheta Dalal, also sought a direction to set up a mechanism to inform the legal heirs of deceased depositors about the unclaimed deposits lying dormant in bank accounts.
Konica Minolta, a leading name in offering multifunctional printers, has been accorded the Prestigious Brands of Asia by Brand Advertising Research & Consulting Pvt. Ltd. (BARC) under the category of providing exceptional printing solutions, ANI/NewsReach reported. The accolade was presented to Konica Minolta in an event held at Sheraton Abu Dhabi on the 28th of February 2023. This significant honour is a testament to their strong dedication to providing cutting-edge technological solutions in the printing industry.
