The Centre may completely exit Air India by selling its residual stake to Life Insurance Corporation of India (LIC) and other financial institutions, according to government sources. This move would help address investors’ concerns related to possible interference in the airline’s operation. Read more Supreme Energy's stake in NuPower sold at market rate: Deepak Kochhar
Kochhar, currently managing director (MD) of NuPower Renewables, is in the middle of a controversy involving his wife and ICICI Bank MD and CEO Chanda Kochhar’s alleged conflict of interest in being part of a committee that approved the loan to Dhoot’s Videocon group. “When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,” Deepak Kochhar said in a telephonic conversation with Business Standard. He denied any conflict of interest in the stake sale by Supreme Energy to Pinnacle Trust. Read more Monsoon 2018 forecast: Skymet predicts normal rainfall, relief for farmers Private weather forecasting agency Skymet on Wednesday predicted the southwest monsoon would be normal this year. The projection came a day ahead of the Reserve Bank of India’s monetary policy, which is widely expected to hold interest rates. But the forecast of a normal monsoon, which might propel farm growth and lower food inflation, will stoke expectations of a rate cut. Read more
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