Tata stakeholders may seek an arbitrator, likely a retired Supreme Court chief justice, to determine the appointment of trustees for the Ratan Tata Endowment Foundation (RTEF) amidst unclear instructions left by Ratan Tata. The foundation, focused on philanthropy and research, will be independent of Tata Trusts. The arbitration could set a precedent for legacy foundation governance in India.
Indian Bank Q1 Result: PAT jumps 24% to Rs 2,973 crore on lower NPA provisions
Indian Bank reported a 24% YoY rise in Q1 net profit to Rs 2,973 crore, aided by sharply lower NPA provisions. Asset quality improved, with