Financial Express - India's leading business newspaper from the Indian Express Group

Countrywide I-T raids on major brokers

Income Tax officials on Friday conducted a countrywide raid on the offices of several frontline stockbroking firms, many of whom are already under investigation from the Securities and Exchange Board of India (Sebi).

Black Friday returns -- Sensex dips 74 pts

It was once again a black Friday for the stock markets as they witnessed huge volatility amidst panic gripping the sentiments prompting selling on the last day of settlement at the Bombay Stock Exchange (BSE).

RBI to decide on merger after Sebi report

Reserve Bank of India (RBI) will wait for the findings of the Securities and Exchange Board of India (Sebi) probe on the alleged price rigging in the Global Trust Bank (GTB) stock before giving its verdict on the UTI Bank-GTB merger.

ICICI reshuffles board, revamps retail subsidiaries

The ICICI group on Friday announced board-level changes as well as the restructuring of its retail subsidiaries. Mr KV Kamath has been reappointed as managing director and CEO for a further period of five years.

Indian firms sleepless over corporate spying

Corporate espionage is spreading rapidly in India, adversely affecting or threatening to affect busi nesses. As many as 72 per cent of the respondents covered in India Fraud Survey Report 2001 of global consultancy firm KPMG said corporate espionage has already affected or could affect their businesses.