Vijay Mallya offers to repay banks Rs 4000 crore by September

Industrialist Vijay Mallya, who owes more than Rs 9000 crore to a consortium of 17 banks, today submitted to the Supreme Court a repayment plan of Rs 4000 crore by September this year. The top court has asked the consortium led by the State Bank of India (SBI) to respond to the liquor baron’s proposal. Mallya’s lawyer told the Supreme Court that he had two rounds of meeting through video

Sriram, Kannan appointed SBI Managing Directors

State Bank of India (SBI) Thursday said it has appointed B Sriram and V G Kannan as Managing Directors and Group executives.Both come to SBI from Group associates, where they held senior positions.Sriram, previously Managing Director of State Bank of Bikaner and Jaipur, will be handling international banking, while Kannan, who was MD and CEO, SBI Capital Markets, will be looking after associates and subsidiaries division of the country’s top

Sensex at 28-month high; Nifty scores 150

Equity benchmarks logged their biggest single day gain in 28 months, as India joined the ongoing party in emerging markets. The Sensex jumped 490 points to close at 20212.96, after touching a 28-month high of 20241.96 intra-day. The Nifty touched a 28-month high of 6157.10 intra-day before settling at 6146.75, up 151 points over the previous close. Interest rate sensitive sectors like realty, banking, capital goods and auto led the