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The much-tracked auction of Bhushan Steel saw a flurry of activity as the bid deadline got over at 6pm on Saturday, February 3.JSW Steel, Tata Steel and a consortium of Bhushan Steel's employees, possibly backed by a Singapore-based fund, have put in bids for the troubled steel maker.The company, which had accumulated debt of over Rs 50,000 crore, had been put up for auction by the National Company Law Tribunal (NCLT). The bids were submitted on Saturday at the Gurgaon office of Deloitte, whose Vijaykumar V Iyer is the IRP (insolvency resolution professional) for Bhushan Steel.Close It is learnt that other companies such as ArcelorMittal, UK-based Liberty House and Steel Authority of India, who had earlier submitted expressions of interest, did not submit bids for the company. "The company hasn't submitted a bid," said a source close to Liberty House, owned by NRI billionaire Sanjeev Gupta. related news Pharma market grows 14.5% in November, respiratory drugs lead Future … [Read more...] about Bhushan Steel auction: Tata Steel, JSW Steel and company’s own employees submit bids

Only 11 percent of senior leaders in corporate India are women, with large companies having the highest gender representation, according to a study."There are only 11 percent senior women leaders in the ecosystem; however, the junior and middle levels fare slightly better at 38 percent and 20 percent, respectively," said the study, which analysed 60 companies.Overall representation of women in Indian companies is 30 percent, as per the Zinnov-Intel India Gender Diversity Benchmark.Close Women's representation in non-technical roles stood at 31 percent and that in technical roles, at 26 percent. related news Oil prices rise on OPEC deficit forecast No recovery in sight for automobile industry yet: Pawan Goenka of M&M PMC Bank depositors' worries to be taken up with RBI: Minister The study notes that gender representation is highest in large companies (33 percent) as compared to that in medium (27 percent) and small companies (21 percent).With 34 … [Read more...] about Only 11% of senior leaders in India Inc are women: Report

Hindustan Petroleum Corporation (HPCL) is auto-booking LPG cylinders for inactive customers covered under the Pradhan Mantri Ujjwala Yojana (PMUY) without their knowledge, reports Business Standard.This move by the state-run oil marketing company (OMC) comes after it emerged that LPG refills under the scheme have been falling. HPCL, however, termed it as an 'outreach and awareness' exercise, it added.Moneycontrol could not independently verify the report.Close The company has auto-booked first refills for at least five million customers (25 percent) subsidised under the PMUY, the report said. HPCL covers 20 million of the scheme’s 80.3 million customers. related news IUML moves SC challenging Citizenship (Amendment) Bill From 'landmark day' to 'dark day': How political leaders described passage of Citizenship (Amendment) Bill in Rajya Sabha This has created problems at the distributor's end as customers are reluctant to accept cylinders they did not … [Read more...] about HPCL auto-booking LPG refills under PMUY without customers’ knowledge: Report

Global payments technology major Mastercard has joined hands with Federal Bank to provide an additional layer of security for digital transactions.Mastercard has entered into a partnership with Federal Bank to offer identity check to the bank's cardholders, it said in an announcement.Mastercard Identity Check is a global authentication program that uses the latest authentication standards of EMV 3-D Secure to provide an additional layer of security for digital transactions and facilitate higher approval rates, improving the authentication experience for merchants, issuers and cardholders.Close It provides banks with a secure and user-friendly way to authenticate cardholders without the use of static passwords, increasing approval rates. related news PMC Bank depositors' worries to be taken up with RBI: Minister Edelweiss MF launches Bharat Bond ETF; offer to end on December 20 The facility decreases online shopping cart abandonment, reduces fraud and improves conversion … [Read more...] about Mastercard ties up with Federal Bank for identity check security for digital transactions

The country's largest two-wheeler maker Hero MotoCorp plans to drive in BS-VI upgrades of around ten products, including five top-selling bikes and scooters by February next year, as it aims to upgrade its product portfolio well before the deadline of April, 1 2020, according to sources.The two wheeler major plans to showcase the upgraded products at an event in February 2020 at its R&D centre (Centre of Innovation and Technology), in Jaipur."Within the next 4-8 weeks, the company will launch around ten BS-VI products including its key products such as Splendor, HF Deluxe, Glamour motorcycles and Maestro Edge scooter,” a company source said.Close Hero MotoCorp has already commenced the retail sales of its first BS-VI motorcycle, the Splendor iSmart in November 2019. related news Oil prices rise on OPEC deficit forecast No recovery in sight for automobile industry yet: Pawan Goenka of M&M The transition to the higher emission norms for the company is being … [Read more...] about Hero MotoCorp gears up to drive in around ten BS-VI models by February