Corporate Snippets

ICICI Bank and HDFC Bank has repeatedly violated the guidelines of the RBI on engagement of recovery agents, says government. (ET)

The government plans to sell its stake in SCI to raise funds through a record asset SALE. (ET)

The government has initiated a proposal to sell 5 % of its stake in ONGC and 10% in IOC to raise about Rs200bn during this financial year.(BS)

The 3,000MW NTPC-Kaniha Power plant will be expanded with the addition of another 500MW unit. (BS)

M&M has decided to go ahead and bid for a majority stake in SsangYong Motor of South Korea. (BL)

M&M is believed to have shown interest in buying a controlling stake in the sick PSU Scooters India. (BL)