Sunday, September 20
Axis Bank on Friday announced that it has appointed Neeraj Gambhir as an executive director, effective from August 4, 2025 or post Reserve Bank of India approval, whichever is later, the private lender said in an exchange filing Friday.The appointment comes as Rajiv Anand, deputy managing director of Axis Bank, decided to step down after the completion of his current term in August 2025. He will retire from the services of the bank on August 3 after completion of his third term as a director on the bank’s board. With over 30 years of experience in India's financial sector, the 52-year-old bank veteran was working as the Managing Director of Nomura, India, heading their fixed income business. He has also worked for Lehman Brothers, India and ICICI Bank. Gambhir is currently a member of S
Isha Ambani-led Reliance Retail on Friday announced that the company has acquired refrigerator, washing machine manufacturer Kelvinator to broaden its range of offerings in the fast-growing durables market.The company did not disclose the financial details of the transaction. By bringing Kelvinator into Reliance's fold, the company said, it aims to combine its massive retail network with Kelvinator’s legacy of innovation and trusted performance.Kelvinator, which originated in the early 20th century and became a household name in India in the 1970s and ’80s with the tagline “The Coolest One,” retains a nostalgic charm with Indian consumers. Known for its durable and high-performance appliances, the brand has long been associated with reliability, cutting-edge technology, and afforda
Islamabad: Pakistan will have to pay over USD 23 billion in external debt during the current fiscal year, which began on July 1, according to a media report.Pakistan's total debt was Rs 76.01 trillion at the end of March this year, comprising domestic debt of Rs 51.52 trillion (approx USD 180 billion) and external debt of Rs 24.49 trillion (USD 87.4 billion), according to the Pakistan Economic Survey 2024-25.The USD 87.4 billion external public debt consists of two components: government external debt and debt obtained from the International Monetary Fund (IMF).The News reported that out of the total USD 23 billion in external debt servicing in 2025-26, there are temporary deposits of USD 12 billion by friendly countries, with the expectation of securing a rollover from them.Temporary depo
