DLF's K P Singh Retires At 90, Son Rajiv Singh To Take Over Reins
Kushal Pal Singh, the face of India’s largest listed real estate firm DLF, on Thursday stepped down from the chairmanship of the company at the age of 90. He will be replaced by son Rajiv Singh, currently serving as vice chairman, the firm announced. The nonagenarian will, however, continue in a non-executive role as chairman emeritus.
Singh had left an army job in 1961 to join DLF — a company started by his father-in-law in 1946 — and took over as chairman in 1995. Under his leadership, DLF expanded beyond Gurugram, building apartments, shopping malls, and hotels. In 2007, he oversaw DLF's much-anticipated initial public offering, which raised Rs 9,188 crore through the sale of 175 million shares.
Thanking DLF’s shareholders, customers, and board members, Singh said. “As we move into a new India that is transforming at an incredible pace, I am confident DLF will continue to contribute to national growth under the leadership of Rajiv Singh.”
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more