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Journalism of Courage
ESI Corp celebrates diamond jubilee year
new delhi: Mallikarjun Kharge,minister of Labour & Employment,said that the ESI Scheme is one of the best Social Security Schemes in the world at the inauguration of the Diamond Jubilee Year of the Employees State Insurance Corporation. The ESI Corporation is celebrating the Diamond Jubilee year from February 24 to February,2012. During this year-long celebration,special emphasis will be laid upon bringing more workers under the integrated social security of ESI Scheme.
new delhi: PTC India Financial Services,an arm of PTC India,on Thursday said it has received a nod from market regulator Sebi for an initial public offering (IPO) to raise an estimated Rs 800 crore and plan to come out with it by mid-March. We have received final comment from Sebi. We plan to tap the capital market by mid-March with the IPO, PTC India CMD Tantra Narayan Thakur said. According to market sources,the company could raise between Rs 500-800 crore through the IPO.
D Swarup nominated FPSB India chairman
mumbai: The Financial Planning Standards Board India (FPSB India) on Thursday announced the nomination of Dhirendra Swarup as its new Chairman. Swarup was Chairman of the Pension Fund Regulatory and Development Authority (PFRDA) till last year. He has behind him an illustrious career as a civil servant and retired as the Secretary (Expenditure & Budget) in the Union Ministry of Finance,a release said. The Indian financial services industry is due for a major introspection,which is necessary pursuant to recent initiatives by various regulators to bring an element of advice in selling of financial products, Swarup said.
Fortis acquires cancer hospital in Singapore
new delhi: Fortis Global Healthcare on Thursday said it has acquired a specialised under construction cancer hospital in Singapore from First Real Estate Investment Trust for a consideration of SGD 33 million (over Rs 115 crore). The healthcare group,which had earlier failed to buy Singapore-based Parkway Holdings,said it aims to complete the construction by the second quarter of 2012. Through this hospital,we are making a beginning in the highly recognised and competent healthcare delivery system of Singapore, Fortis Global Healthcare executive Chairman Malvinder Singh said.
Kotak,Dhanlaxmi Bank hike rates
mumbai: Kotak Mahindra Bank and Dhanlaxmi Bank on Thursday announced raising lending and deposit rates by up to 3 per cent. Kotak Mahindra Bank in a statement said it will hike its base rate,or the minimum lending rate,by 50 basis points to 8.75 per cent with effect from March 1. The bank also hiked benchmark prime lending rate (BPLR) by 50 basis points to 17.50 per cent,making its existing loans costlier. Dhanlaxmi Bank increased interest rates on term deposits by up to 3 per cent depending on maturities.
