Dinesh Kumar Khara appointed SBI MD

New Delhi: Dinesh Kumar Khara was appointed Managing Director of the State Bank of India (SBI) on Tuesday. He is presently working as MD and Chief Executive Officer of SBI Funds Management Pvt Ltd. The appointments committee of the Cabinet (ACC) has appointed Khara for three years, extendable by two years after review of his performance, an order issued by the Department of Personnel and Training said. Ashok Kumar Garg and Raj Kamal Verma have been appointed as Executive Directors of the Bank of Baroda and Union Bank of India, respectively. pti

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Adani Power net loss narrows to Rs 34 cr

New Delhi: Adani Power's consolidated net loss narrowed to Rs 33.51 crore for the quarter ended June 30, 2016. The company had reported Rs 171.81 crore consolidated net loss after tax and minority interest during the same quarter a year ago, said Adani Power, a subsidiary of Adani Enterprises. “Pursuant to the acquisition of Udupi Power Corporation Limited by the company with effect from April 20, 2015, the figures for the current quarter are not fully comparable with the figures of corresponding quarter,” it said. pti

India, Switzerland in talks for info-exchange pact 

New Delhi: India is in discussion with Switzerland to enter into an agreement for the implementation of Automatic Exchange of Information (AEOI) between the two nations, Minister of State for Finance Santosh Kumar Gangwar said in a written reply to the Rajya Sabha on Tuesday. Once the agreement is signed, it will be possible for India to receive, from 2018 onwards, financial information of accounts held by Indians in Switzerland on the automatic basis, Gangwar said. PTI