No one ever has any doubt in Mukesh Ambani’s caliber and expertise, but the most astonishing part is that Bank Of America actually appointed its first Non-American Director. This move by the bank is a big step towards actual globalization taking place around the world. It could mean that we are moving towards a time where the entire world is local market, free from any preferences on the basis of ethnicity, religion, or any useless basis on which crucial decisions were based. The bank has confirmed that Mukesh Ambani will stand for elections at the annual meeting this spring. Chairman Charles O Holliday Jr said in a statement. “BofA’s shareholders will benefit from the global perspective Ambani brings to our board. He has demonstrated expertise in risk management and strategic planning across a diverse range of businesses, including energy, information and communications technology, and retail networks,” Now I will present Mr. Ambani’s resume - Member... Read More

To open Saving bank account in IDbi Bank List of following document is required. # Latest passport size photograph # Self cheque or cash deposit Or either of any document below For Id proof *Copy of passport or any other valid Is proof with address written on it * Voter’s ID card * * Defence services ID or government ID * Driving license * * PAN card * Photo credit card * Employee ID card For address proof * Latest bank account or credit card statement * Latest electricity, telephone or mobile phone bill * Latest copy of LIC policy or insurance premium receipt * Latest copy of NSC * Letter from employer certifying current mailing address * Latest house lease agreement * Ration card * Bank passbook / statement Additional Requirements: In addition to this proof of PAN/GIR No. or Form 60 (only for cash deposits) would be required. For accounts in the name of minors, a copy of the birth certificate or school certificate of the minor would be... Read More

Tata Housing Development Company which is a subsidiary of Tata Sons Limited have plans of developing housing projects in two states, Punjab and Himachal Pradesh. MD and CEO Brotin Banerjee told reporters on Wednesday “We have plans to set up two (residential) projects in Punjab and Himachal Pradesh, which will involve an investment of Rs. 1,000 crore,” About 60 to 65 per cent of their investment (Rs. 1,000 crore) will be made in Punjab and rest in HP. The company will develop affordable homes in Ludhiana, Jalandhar and periphery of... Read More

Pepsico is all set to take on the market with its Mountain Dew drink. After roping in Salman Khan as its brand ambassador Pepsico has plans to increase its reach in India. Mountain Dew was launched 8 years ago and has never roped in any star before. This move is however to expand its base outside northern and western India where the brand is popular. They have already started putting banners and hoarding. Though no changes will be made when it comes to packaging. The drink are packaged in 200 ml, 300 ml glass bottles and 500 ml, 1 litre, 2litre and 2.25 litre PET bottles.... Read More

According to sources, Praful Patel, Union Heavy Industries Minister has recommended that two state-run PSUs: Scooters India Ltd and HMT Bearings be dis-invested. HMT Bearings manufactures ball and roller bearings and serves automobile, commercial vehicle, tractor, industrial machinery, defense, and railway sectors. Scooters India Limited manufactures a gamut of three wheeler scooters, under the brand name of Vikram or Lambro. Disinvestment of PSU’s in the past have raised huge sums. This fiscal alone the government have raised 22,000 crore. Companies like Coal India, Powergrid Corporation, MOIL, Engineers India, Shipping Corporation and Satluj Jal Vidyut Nigam Ltd were dis-invested. Though Majority of the sum was raised by Coal India, other disinvestments contributed signaficantly as... Read More

The existing regulations under Foreign Exchange Management Act (FEMA), 1999, do not permit residents to trade in foreign exchange in domestic or overseas markets, RBI said in a statement. The Reserve Bank on Monday said resident Indians cannot trade in forex market as per the existing regulations. In the recent past many Indians have lost money in the Forex market through internet portals. Remittance in any form towards overseas foreign exchange trading through electronic/internet trading portals is not permitted under the FEMA. RBI cautioned investors against advertisements issued by certain electronic and internet portals offering trading or investing in foreign exchange with guaranteed high returns. Many companies even engage agents who personally contact gullible people to undertake forex trading and investment schemes and entice them with promises of disproportionate or exorbitant returns, it said. Read more at:... Read More