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UPDATE 2-India's central bank governor says state banks need more capital

* Patel says capital position of some state-run banks remains weak

2:14pm IST

CORRECTED-UPDATE 1-India's Infosys approves up to $2 bln buyback of shares

MUMBAI, Aug 19 India's second-biggest IT firm Infosys said on Saturday it will buy back shares worth up to 130 billion rupees ($2 billion), a day after Vishal Sikka resigned as chief executive after a long-running feud with the company's founders.

1:37pm IST

BRIEF-India's finance minister: debtors will have to make sure debts are serviced

* India's Finance Minister Arun Jaitley says effective supervision required to ensure company's functioning doesn't come to a standstill during insolvency process

12:20pm IST

India's central bank governor says state banks need more capital

MUMBAI, Aug 19 State-run banks will need a bigger recapitalisation to resolve bad loan problems weighing on their balance sheets, the Reserve Bank of India Governor Urjit Patel said on Saturday.

12:09pm IST

India's Infosys approves up to $2 bln buyback of shares

MUMBAI, Aug 19 The board of India's second biggest IT firm, Infosys Ltd, on Saturday approved a share buyback programme of up to 130 billion rupees ($2.03 billion), a day after Vishal Sikka resigned as chief executive after a long-running feud with the company's founders.

11:46am IST
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After Sikka's dramatic exit, Infosys faces recruitment headache

MUMBAI/BENGALURU The dramatic departure of Vishal Sikka as chief executive of Infosys, following a months-long public battle with the tech giant's founders, has left the company with another messy problem: how to find someone willing to replace him.