City Union Bank inaugurates new branch in Tamil Nadu

City Union Bank said that it has inaugurated its 551st branch located at Villapuram, Madurai in state of Tamil Nadu on July 10, 2017. City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards and the Bank also offers services, such as internet banking, mobile banking, including online funds transfer and fixed deposit operations. Meanwhile, share

Flipkart to make revised offer for Snapdeal this week

Flipkart is expected to make a revised offer in the next few days for buying Snapdeal, after its first proposal of USD 850 million was rejected by the Board of the smaller rival, reported PTI. The new offer is likely to be closer to USD 1 billion mark, which was the initial asking price for acquisition of beleaguered e-commerce marketplace, sources privy to the development said. They did not wi

OVL to bid for Lebanese offshore blocks

ONGC's overseas arm OVL will bid for blocks in Lebanon's first oil and gas exploration and production licensing round, Oil Minister Dharmendra Pradhan said as per the PTI report. ONGC Videsh Ltd (OVL) was pre-qualified to bid as an operator for five offshore blocks (1,4,8,9 and 10). Pradhan, who is leading a delegation to the World Petroleum Congress in Istanbul, in a Twitter post said

Amazon wins India's approval to invest in domestic food retail

Online retail giant Amazon.com Inc has secured approval to stock and sell food and groceries in India, potentially expanding its business in the fast-growing economy where it is in a pitched battle with home-grown rival Flipkart.

Amazon confirmed winning government approval for its plan to sell food products, but it declined to provide further details.

Separately, a source f

India inflation to cool in June to record-low, could prompt rate cut: Reuters poll

India's consumer inflation is expected to have slowed to a record-low in June, pressured by a sharp drop in food and oil prices, a Reuters poll showed, a result that could intensify calls for an interest rate cut.

Consumer price inflation is predicted to cool to 1.70 percent in June, easing further from May's 2.18 percent, according to the poll of more than 30 economists taken

SpiceJet launches two flights under RCS-Udan scheme

Budget passenger carrier SpiceJet on Monday launched two daily direct flights under the air regional connectivity -- RCS-Udan -- scheme.

The budget carrier launched the Mumbai-Porbander-Mumbai and Mumbai-Kandla-Mumbai flights, the airline said. 

SpiceJet was awarded six proposals and eleven routes under the first phase of the RCS. 

Out of t

Sensex hits record high; Nifty breaches 9,800
 Indian shares hit a record high for a second consecutive session on Tuesday tracking gains in global markets, with the NSE Nifty breaching 9,800 points for the first time as trading turned normal a day after a major technical disruption.
 
Volumes recovered on the NSE, with traders reporting no issues with placing trades or quotations. A technical glitch
Airtel plans to launch VoLTE later this year: Gopal Vittal

 Airtel is undergoing trial for voice over LTE (VoLTE) services in five cities and the services will be launched in the later part of the year, Gopal Vittal, Managing Director and CEO (India and South Asia) of the company, said here on Monday.

"We are in the midst of trials. We are already doing trials in five cities. Towards the later part of the year we should be able to l

'Real estate reeling under teething issues of RERA implementation'

Over an year has passed since the real estate law came into force, but not all states seem ready for it as they still have to set up regulatory authorities, experts said on Monday.

"In places where states are ready, developers are not ready. For a large number of developers, RERA (the Real Estate (Regulation and Development) Act, 2016) meant filling up of forms, which are lengthy

Emulate NITI Aayog to promote competition among districts, states urged

 Commending the NITI Aayog's initiative of promoting competition among states, Cabinet Secretary P.K. Sinha said on Monday that a similar strategy could be used by states to promote competition between different districts.

"Competition between states being promoted by the NITI Aayog is very useful. (It) can be used by the states to promote competition between distri

SEBI approves ICEXs request to restart live trading

Indian Commodity Exchange Ltd (ICEX), a screen based on-line derivatives exchange for commodities, on Monday said it has received approval from Securities and Exchange Board of India (Sebi) to re-commence live trading operations.

In a statement issued here, ICEX said it has successfully complied with all Sebi mandated norms prescribed for the commodity exchanges, and implemented

India raises import tax on sugar to 50 pct: government statement

NEW DELHI  - India has raised the import tax on sugar to 50 percent from 40 percent, a government statement said on Monday, as part of efforts to curb cheaper imports.

On Friday, Reuters reported that India, the world's biggest sugar consumer, was likely to raise the import tax on the sweetener to 50 percent.

(Reporting by Mayank Bhardwaj; Editing b

National Stock Exchange grapples with system fault ahead of IPO
A technical glitch shut down the National Stock Exchange (NSE) for five hours on Monday, dealing the country's biggest stock market an embarrassing blow ahead of its plans to list and leading to a surge in volumes on a rival bourse.
 
Trading resumed fully later on Monday, with quotes for individual stocks finally restored with just over an hour of trade l
Monsoon rains have covered most of India, rainfall within expectations: IMD

NEW DELHI  - The seasonal monsoon rains have covered most of India and the amount of precipitation so far is within expectations, the head of India Meteorological Department (IMD) said, raising hopes for higher farm output after increased sowing of rice and soybean crops.

Cumulative monsoon rains have been 2 percent below average since the beginning of the rainy

Allahabad Bank revises MCLR rates

State-owned Allahabad Bank said that it has kept unchanged the existing MCLR rates upto 1 year and decided to introduce new MCLR benchmark for more than 1 year tenors. The rates will be effective from today, the Bank said in a filing to the Bombay Stock Exchange. Two-year lending rate will attract an MCLR of 8.70 per cent, While, three year MCLR is set at 8.75 per cent. Banks revise MCLR every

KEC International bags orders worth Rs 1,845 cr

KEC International Ltd, an RPG group company, has said that it has secured new orders of Rs 1,845 crore. “In Transmission and Distribution business, the company has secured orders of Rs 1,684 crore which includes an EPC order for construction of 765kV and 400kV transmission lines from a TBCB developer in Western and Southern India,” the company said in a filing to the Bombay Stock Ex

Ramco Systems wins Frost & Sullivan Asia Pacific award

Leading enterprise cloud software provider, Ramco Systems said that it has clinched top honors at the annual 2017 Frost & Sullivan Excellence Awards, held in Singapore, earlier this month. “Ramco Systems, a global HCM and Payroll software provider, won the coveted "Asia Pacific Talent Management Solutions Enabling Technology Leadership Award" under the ICT category,” t

Bharti Airtel to spend $310 million to improve customer service

NEW DELHI - India's top phone carrier Bharti Airtel Ltd plans to invest 20 billion rupees ($310 million) over three years on a programme to improve customer experience, as it pushes back against new rival Reliance Jio that has disrupted world's second-biggest mobile phone market by customers.

 
As part of the programme, dubbed Project Next
Non-life insurers' premium income grows 22% in Q1

Thirty non-life insurers posted a 21.95 per cent increase in their gross premium income to Rs 33,302.89 crore in the first three months of the current fiscal as compared to Rs 27,309.59 crore in the same period last year, Insurance Regulatory Authority of India (IRDAI) data revealed on Monday.

According to the data, the gross direct premium income underwritten in June was at Rs 1

Sony India unveils 'smart' audio system at Rs 33,990

Sony India on Monday launched a new high-power, portable home audio system at Rs 33,990 in India.

The product will be available across all Sony Centres and major electronic stores from July 13.

'MHC-V50D' is equipped with the latest motion control to manage the selection of tracks. 

The smart technology can drive a smartphone's motio

Dell EMC, SAP launch 'GST-in-a-box' for MSMEs in India

IT major Dell EMC and enterprise solutions provider SAP on Monday announced a comprehensive digital Enterprise Resource Planning (ERP) solutions for micro, small and medium enterprises (MSMEs) to get GST ready.

SAP is providing a pre-packaged ‘GST in a Box' solution running on infrastructure solutions of Dell EMC which is aimed at helping MSMEs digitally transform their

Zen Technologies signs MoU with SCIS

Zen Technologies Ltd said that it has signed memorandum of understanding (MOU) with the School of Computer and Information Sciences (SCIS), University of Hyderabad (UoH) to bring in academy and industry collaboration. The MoU will be valid for a period of five years from the date of signing, the company said in a filing to the Bombay Stock Exchange. According to the filing, SCIS and Zen will no

Alembic Pharma gets ANDA approval for Dabigatran Etexilate Capsules

Drug maker, Alembic Pharmaceuticals said that it has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Dabigatran Etexilate Capsules, 150 mg. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) PRADAXAO Dabigatran Etexilate Mesylate Capsules, Eq to 150 mg base, Boe

Cadila Healthcare bags final approval for Doxazosin Tablets

Zydus Cadila has said that it has received the final approval from the USFDA to market Doxazosin Tablets USP, 1 mg, 2 mg, 4 mg, and 8 mg. The drug is a selective alpha blocker used to treat high blood pressure and urinary retention associated with benign prostatic hyperplasia. “Zydus Cadila has also received the tentative approval from the USFDA to market Lurasidone Hydrochloride Tablets,

NSE says trying to fix disruption in trading, not shut for day

 

MUMBAI- The National Stock Exchange (NSE) is still trying to fix the technical issues that have disrupted trading since the opening of trade on Monday, and the exchange will not be shut for the day, a spokeswoman for the exchange said.

"We are not shut for the full day. We are trying to address the issue," Divya Malik Lahiri, NSE's Head of Corporate Comm