Tag Archives: operations

RBI slaps Rs 1 cr fine on Yes Bank for non-compliance in Swift operations

Private sector lender Yes BankNSE -0.06 %Tuesday said the Reserve Bank of India has slapped a fine of Rs 1 crore on the bank for non-compliance of directions on SwiftNSE 4.92 % messaging software. “The Reserve Bank of India (RBI)… has levied an aggregate penalty of Rs 10 million (Rs 1 crore) on the bank for non-compliance of regulatory directions observed during assessment ... Read More »

TCS to wind up Lucknow operations, company says no job loss

Information technology major Tata Consultancy Services (TCS) has decided to close its operations in Lucknow and shift to Noida after 33 years in Uttar Pradesh’s capital city. The company will shift most of its projects to Noida, close to the national capital, by this December. At least 2,000 employees, of whom 50% are women, are likely to be affected by ... Read More »

Tata Global Beverages may sell its China operations

Tata Global Beverages on Wednesday said it might sell its loss-making China subsidiary. The company’s Chinese subsidiary, called Zhejiang Tata Tea Extraction Company, reported a net loss of Rs. 15 crore in the previous financial year. “For China, we are exploring different options, which could be restructuring or a sale,” Cyrus Mistry, the Tata Group Chairman, said at Tata Global ... Read More »

Exclusive: U.S. investigates market-making operations of Citadel, KCG

Federal authorities are investigating the market-making arms of Citadel LLC and KCG Holdings Inc, looking into the possibility that the two giants of electronic trading are giving small investors a poor deal when executing stock transactions on their behalf. The Justice Department has subpoenaed information from Citadel and KCG (KCG.N) related to the firms’ execution of stock trades on behalf ... Read More »

Tata Steel says seven firms in frame to bid for rest of UK operations

Seven firms are weighing up bids for Tata Steel’s entire UK business, the company has revealed, raising hopes of a rescue deal that could save up to 12,000 jobs. Indian conglomerate Tata has been seeking a buyer since it said in March that a turnaround plan for its Port Talbot steelworks was “unaffordable”. Tata Steel UK received letters of intent ... Read More »