Global competitiveness index of India Rank is 55th Position
Globally, Switzerland has retained its top position as the world's most competitive economy for seventh year in a row and is followed by Singapore, the US, Germany and the Netherlands in the top-five.
These are followed by Japan, Hong Kong, Finland, Sweden and the UK in the top-ten.Among emerging economies, India has ended five years of decline with a 16-place jump to 55th position. However, South Africa is ranked higher and it has re-entered the top 50, progressing seven places to 49th.
Sbi And AndhraBank cuts its lending rates
1.State Bank of india, bank has decided to reduce base rate by 0.40 per cent to 9.3 percent with effect from October 5.
2.Andhra Bank also reduced its base rate by 0.25 percent to 9.75 percent.
Nestle India Chairman Antonio Helio Waszyk retires on September 30, 2015
The company in a filing to the BSE today said its Chairman and non-executive director Antonio Helio Waszyk will relinquish as a director of the company.
"Antonio Helio Waszyk, Chairman and Non-Executive Director of the company has relinquished his office as a director of the company with effect from October 1, 2015 consequent upon his retirement from Nestle Group," Nestle India said.
1.Waszyk, who is a Brazilian national, had joined the Nestle Group in November 1977.
2.Waszyk was appointed as non-executive Chairman of Nestle India on October 1 2013.
3.He had relinquished the office as Managing Director of the company on September 30, 2013.
Country's largest mortgage lender HDFC Ltd said the bid to raise up to Rs 5,000 crore via NCDs and warrants opens today.
"Committee (of Directors) be and is hereby accorded to open the issue in accordance with Sebi regulations. "In respect of the issue, the bid opening date for the issue shall be September 30, 2015," it said in a filing on the BSE.
1.HDFC Ltd in its annual general meeting held in end of July had said that it will issue non-convertible debentures (NCDs) and warrants to QIBs up to Rs 5,000 crore.
2.With secured redeemable non-convertible debentures of face value of Rs 1 crore each to eligible qualified institutional buyers (QIBs) by way of qualified institutional placement (QIP).
3.In case warrants are exchanged with equity shares of the company, it would result in a maximum issue of 3.65 crore equity shares of face value of Rs 2 each of the Corporation.
The floor price of the warrants shall be Rs 1,189.66 per warrant, it added. The company said the NCDs will mature in March 2017, while the exercise period of the warrants will be 36 months from the date of allotment of warrants.
Also, it said the bidder will be entitled and eligible to apply for at least 7,300 warrants for each NCD applied for in the issue.
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