E-commerce giant Amazon and Flipkart have created over 1.4 lakh temporary jobs across supply chain, last-mile connectivity and customer support in preparation for their festive sales that kicks off later this month.

Amazon.in, in a statement on Tuesday, said it has created more than 90,000 seasonal employment opportunities across its fulfilment centres, sortation centres, delivery stations, partner fulfilment network and customer service sites.

Trade unions on Tuesday claimed that production and dispatch has come to a "complete halt" at the mines of Coal India Ltd and Singareni Collieries Company Ltd, owing to the one-day strike against the Centre's decision to allow 100 per cent FDI in coal mining.

Five federations representing over half-a-million workers of CIL and Singareni Collieries have called for the strike, seeking withdrawal of the central government's move.

The ongoing slump in the realty sector is helping ICICI Bank in its expansion drive as it is adding branches by nearly a tenth of its existing footprint, a top official said.

The ongoing slump in the realty sector is helping ICICI Bank in its expansion drive as it is adding branches by nearly a tenth of its existing footprint, a top official said.

New Delhi: India’s biggest automaker, Maruti Suzuki India Ltd, expects sales of its cars in September to be higher than the previous month, its Chairman R C Bhargava told Reuters on Monday.

August domestic sales at Maruti Suzuki fell 34.3 per cent, one of the biggest monthly drops in sales in recent times. Indian auto sales fell for the 10th straight month in August, marking one of the worst slowdowns in the industry’s history.

Mumbai: Markets regulator Sebi on Monday slapped a penalty of over Rs 22 crore on Aurobindo promoter P. V. Ramprasad Reddy, his wife P. Suneela Rani and other connected entities for violating insider trading norms.

The order has been issued following a probe into the trading in the scrip of Aurobindo Pharma (APL) during the period from July 2008 to March 2009 to ascertain the regulatory violation.

New Delhi: Paytm has started a marketing campaign to promote the interoperability feature of its quick response (QR) code scanning application, with the feature aiming 1.5 billion merchant payments on its platform during the festival season, the company said in a release.

A rally in market heavyweight Reliance Industries or RIL helped support Indian stock markets today. The Sensex had rallied nearly 3,000 points in the previous two sessions on optimism that the corporate tax cuts will lift corporate profitability, private capex and ultimately the broader economy. Many brokerages have upgraded their earnings estimates of India Inc and Sensex targets.

Loss-making telecom operator Vodafone Idea (VIL) stands to gain the most if the deadline for scrapping inter-connect usage charges (IUC) by Trai (Telecom Regulatory Authority of India) is extended. VIL gets about 30% of its overall operating income from IUC.

IUC charge is paid to the operator on whose network a call terminates. Trai had last reduced it in September 2017 by a sharp 57% to 6 paise per minute.

State Bank of India (SBI) will adopt repo rate as the external benchmark for all floating rate loans for micro, small and medium enterprises (MSMEs), housing and retail from October 1, 2019.

The bank has extended the scheme to medium enterprises also to boost lending to the MSME sector as a whole. SBI had introduced floating rate home loans effective July 1, 2019.

The National Stock Exchange (NSE) system faced trading outage, with investors unable to place orders in the last 15 minutes of the trade on Monday. The move hit several brokers and traders who had active positions in the market.

Sources said the exchange is looking to ascertain the reason for the glitch. Some officials said the problem occurred due to a connectivity issue with one of the internet services providers, Sify.

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