ICICI Securities on Saturday appointed Vijay Chandok as an additional director and as a Managing Director and CEO of the company with effect from May 7, 2019.

"The board of directors of the company have approved the appointment of Vijay Chandok as an additional director and as a Managing Director and CEO of the company with effect from May 7, 2019 subject to the approval of the members at the ensuing annual general meeting of the company and other regulatory approvals," ICICI Securities said in a filing to the Bombay Stock Exchange.

A subsidiary of ICICI bank, the company said that Shilpa Kumar has tendered her resignation as the Managing Director and CEO and also a director of the company with effect from May 6, 2019.

She will be taking up a senior level position at ICICI Bank Limited, the company said.

Roger Federer has lifted his fourth title at the Miami Open with an emphatic 6-1, 6-4 win over defending champion USA's John Isner on Sunday.

The 37-year-old world number five took the first set in 24 minutes. In his 50th Masters final, the Swiss fourth seed produced some typically sublime groundstrokes and wrapped up the match in an hour and three minutes.

It is Swiss player's 28th Masters title and the 101st overall for a player who has won 20 Grand Slam singles titles. Federer is now behind only America's Jimmy Connors with 109 career singles titles.

President Ram Nath Kovind participated in a community reception at Santiago, the capital of Chile last night. The event was organised by Indian community and Friends of India.

Addressing Members of the Indian Diaspora and Friends of India, President said that as the world around us is increasingly falling prey to negative forces of terrorism, of violence, of greed and intolerance, the universal messages of peace and tolerance preached by Guru Nanak Dev ji and Mahatma Gandhi are increasingly relevant.

Also relevant are the examples of constitutional democracies based on the rule of law, equality and fundamental freedoms, represented by both India and Chile, he said.

Vijaya Bank and Dena Bank will merge with Bank of Baroda (BoB) today to create the third-largest lender of the country.

The government-forced merger, announced in September last year, creates the third largest bank in the country after State Bank of India and HDFC Bank.

In a release, BoB chief PS Jayakumar said the new unified entity will work for the success of the amalgamation by effective execution of all the activities to build a stronger organisation and collectively deliver more to the stake holders than that of sum of individual entities.

All customers of Dena Bank, which is under prompt corrective action (PCA) framework of the RBI, will have renewed access to credit facilities immediately.

To make merger a smooth affair, the government last week decided to infuse 5,042 crore rupees in Bank of Baroda to enhance its capital base to meet additional expense.

ISRO's PSLV C45 lifted off from the Satish Dhawan Space Centre in Sriharikota on Monday, carrying India's EMISAT satellite along with 28 nano satellites of global customers.

As the 27-hour countdown concluded, the nearly 50-metre tall rocket, a new variant of ISRO's trusted work horse PSLV-QL, blasted off from the second launch pad at the spaceport of Sriharikota at 9:27 am. The EMISAT satellite is aimed at electromagnetic measurement.

State-owned gas utility GAIL India Ltd Friday said it has signed an agreement with Bharat Heavy Electricals Ltd (BHEL) for cooperation in the development of solar power projects.

"GAIL shall be the project developer and BHEL shall act as an engineering, procurement, construction and project management contractor," the company said in a statement.

BHEL shall also provide operation and maintenance services during the initial period upon becoming successful bidder.

"This development will help both the companies to leverage their competitive strengths to build a substantial portfolio in solar power projects.

"The memorandum of understanding (signed Friday) aims at building a closer strategic partnership between the two Maharatna PSUs for jointly pursuing commercial solar power projects through participation in tariff / Viability Gap Funding (VGF) based competitive bidding process," it said.

GAIL is India's biggest natural gas company with diversified interests across the value chain of trading, transmission, LPG production and transmission, LNG re-gasification, petrochemicals and city gas.

India and United States have jointly urged Pakistan to take meaningful, irreversible and verifiable action against terrorists and terror groups operating from its soil.

Indian and US officials met in Washington on Friday for the sixteenth meeting of the US-India Counter-terrorism Joint Working Group and the second session of the US-India Designations Dialogue.

The Counter Terrorism Joint Working Group exchanged views on threats posed by international terrorist organisations as well as ongoing concerns over cross-border terrorism in the South Asia region.

A statement released by US state department said that both sides underlined the urgent need for Pakistan to take meaningful, irreversible, and verifiable action against terrorists and terrorist groups.

There was discussion of strengthening cooperation on information sharing and other steps to disrupt the ability of terrorists to travel, consistent with the important provisions and obligations outlined in United Nations Security Council Resolution 2396.

Power Finance Corp. Ltd (PFC) has completed the purchase of a controlling stake in state-run peer REC Ltd that will create an $80-billion lending giant by assets and potentially help in faster resolution of stressed assets in India’s power sector.

PFC paid ₹14,500 crore to the Union government to buy a 52.63% stake in REC, the company’s chairman and managing director Rajeev Sharma said on Thursday.

The proceeds from the REC stake sale have also helped the union government exceed its disinvestment target of ₹80,000 crore for the fiscal year 2018-19. The disinvestment receipts touched ₹85,000 crore last week.

PFC plans to complete the process of the merger with REC in the next fiscal year in consultation with the government. This would make PFC India’s second largest state-owned financial firm by market capitalization after State Bank of India (SBI).

While SBI commanded a market cap of ₹2.84 trillion on Thursday, REC and PFC achieved a market cap of ₹29,485.53 crore and ₹31,034.16 crore, respectively.

India and Bolivia have signed eight MoUs on the second day of President Ram Nath Kovind’s three-day visit to that country.

These MoUs were signed in the fields of culture, Visa waiver arrangement for diplomats, the exchange between diplomatic academies, mining, space, traditional medicine, establishment of Centre of Excellence in IT and Bi-Oceanic Railway project.
Mr Kovind was also conferred with the highest State honour of Bolivia, “Condor de Los Andes en el Grado de Gran Collar” during his visit to Bolivia. President of Bolivia Evo Morales awarded him the Honour at a function held in Santa Cruz.

President Ram Nath Kovind had extensive talks with his Bolivian counterpart today. During the delegation level talks, a range of areas of mutual interest in bilateral, regional and multilateral fields have been discussed.

Both countries have reaffirmed their commitment to strengthen political and economic engagement. India offered 100 million US Dollar Line of Credit to Bolivia for financing development projects. Both countries also agreed on the need for reform of the UN Security Council to make it reflective of contemporary realities.

President is in Bolivia on the second leg of his three nation tour. He is on a three-nation visit to Croatia, Bolivia and Chile from March 25th to April 4th.

IT services major Wipro on Thursday said it has partnered with IIT Kharagpur to collaborate on industry-focused applied research in the areas of 5G and artificial intelligence (AI).

Research outcomes from this partnership will be leveraged by Wipro to develop solutions for its customers, across industry verticals, Wipro said in a statement.

Indian Institute of Technology (IIT), Kharagpur on the other hand will benefit from the commercialisation of the joint research insights and Wipro's industry expertise.

"Wipro and IIT Kharagpur will jointly take up applied research projects on industry challenges related to the design, planning and operations of 5G networks and cognitive information processing for the automation of these processes and 5G use cases," the statement said.