Shares of Yes Bank plunged more than 7 per cent after the risk and audit committee of CG Power and Industrial Solutions in which the private lender owns more than 12.79 per cent stake said there were some unauthorized transactions by certain employees of the company. CG Power also received a letter from a particular financing company regarding a certain interest payment failure which the Operations Committee of the company was unable to trace or ascertain from the financials of the company, according to the exchange filing.

India's biggest bank State Bank of India (SBI) has announced special offerings ahead of this festive season for retail customers across different product categories: auto/car loan, personal loan, education loan and home loan. SBI has waived processing fees on car loans during this festival season. In addition, SBI is offering "lowest" interest rate starting from 8.70% to customers opting for car loan, with no escalation in interest, the bank said.

Mumbai: In the wake of the liquidity crisis hitting the NBFCs and housing finance companies (HFCs), securities market regulator Sebi might ease share buy-back norms for these firms.

The proposal is expected to be presented at the regulator's board meet on Wednesday.

NTPC, India’s largest power producer, is planning to set up ultra mega solar parks (UMSPs) of 5,000 MW capacity across solar radiation-rich states of Gujarat and Rajasthan to help India meet its 2022 renewable energy target, and to reduce its overall dependence on fossil fuel. NTPC chairman and MD Gurdeep Singh said the first ultra mega solar park will come up in Kutch district of Gujarat, while the next is planned in Rajasthan. “We have identified the location, and the process for acquisition of land will start soon in Kutch. We plan to invite the bids for the first phase of the park by March 2020,” Singh said.

Domestic equity benchmark BSE Sensex rose over 100 points in early trade on Tuesday led by gains in IT stocks amid positive cues from global markets. The 30-share was trading 100.23 points or 0.27 per cent higher at 37,502.72 at 0930 hours; and the broader Nifty too rose 16.15 points or 0.15 per cent to 11,070.05 in morning trade.

In the previous session on Monday, the 30-share Sensex settled 52.16 points, or 0.14 per cent, higher at 37,402.49, and the NSE Nifty edged 6.10 points, or 0.06 per cent, up at 11,053.90.

Global card payments group Visa is critical of the Indian government's decision to boost adoption of electronic payments by requiring banks and card payment networks to offer no-fee debit card transactions, a senior Visa executive said.

Last month, India's Finance Minister Nirmala Sitharaman said that businesses with annual turnover of Rs 50 crore will not have to pay a merchant discount rate on debit card and other digital modes of transactions, excluding credit cards.

The Direct Tax Code (DTC) task force, set up to overhaul the 58-year-old Income Tax Act, has recommended a significant increase in the highest income tax slabs, besides slashing the corporate tax rate to an even rate of 25 per cent for both domestic and foreign companies, sources in the know said.

Vodafone Idea shares slid 6 per cent to Rs 5.60 in early morning trade on the BSE on Tuesday after Balesh Sharma stepped down as company’s chief executive officer (CEO) with immediate effect due to personal reason. Ravindar Takkar has been appointed as managing director and CEO for period of three years.

Public sector lenders, including PNB, BoB and Corporation Bank, have organised a two-day consultation process at branch level, seeking suggestions to make the sector future ready and be a catalyst in economic growth. The consultations were held over a period of two days from August 17-18 under the direction of Department of Financial Services, Ministry of Finance.

Capital markets regulator Sebi is planning to ease its norms for buyback of shares by listed companies, especially those having subsidiaries in housing finance and NBFC sectors. According to top officials, a proposal in this regard is expected to be discussed by Sebi’s board at its meeting this week. The repurchase of shares by listed companies is governed by the Buyback Regulations of the Securities and Exchange Board of India (Sebi) as well as by the Companies Act.

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