Country’s largest lender, State Bank of India (SBI) has revised their export related service charges. This has been done to improve the ease of doing business and provide clear visibility of cost structure to exporters. While revising the charges, SBI has taken into consideration the views from various export promotion councils.

WhatsApp, which has over 400 million users of its messaging service in India, plans to roll out its much-awaited payments service in the country later this year, more than a year after it began testing the offering here.

The Facebook-owned company has been testing its payments service in the country since last year with about a million users, but could not launch full-fledged services as it has been awaiting regulatory approvals.

Shriram Transport Finance Company Ltd is raising $200 million (around Rs 1,420 crore) from International Finance Corporation and other investors through a securitisation structure

IFC, the World Bank's private-sector investment arm, said the structure would help mitigate foreign exchange risks and attract patient capital from pension funds, insurance firms, and foreign institutional investors.

Mumbai: Domestic equity benchmark BSE Sensex rallied over 300 points in early trade on Thursday tracking gains in HDFC twins and Infosys ahead of July derivatives expiry, amid positive global cues.

The 30-share index was trading 309.16 points or 0.82 per cent higher at 38,156.81 at 0945 hours; and the broader Nifty also surged 81.15 points or 0.72 per cent to 11,352.45.

Paytm Mall, the e-commerce wing of Paytm, has forged a partnership with Apple to become one of the authorised resellers in India. This means that the sellers on Paytm Mall would require a pre-authorised approval to be able to list Apple products, including iPhone, iPad, Mac, Apple Watch, and more. In the hindsight, it also alludes to reduction in the range of discounts and offers doled out by Paytm Mall on Apple products to attract buyers.

The U.S. Department of Justice is investigating whether big technology companies are engaged in anticompetitive behavior, addressing a rising tide of criticism they have become too powerful to the detriment of consumers.

The Justice Department has said it will investigate “whether and how” online platforms in “search, social media, and some retail services online” are engaging in behavior that stifles competition and harms consumers.

More than two years after the idea of doorstep delivery of fuels was mooted, Reliance Industries (RIL) is preparing to enter the fray. The state-run oil marketing companies (OMCs), on their part, will add at least 500 doorstep fuel delivery vehicles within the current financial year.

The OMCs — Indian Oil, BPCL and HPCL — will soon be issuing advertisements to select interested start-ups and entrepreneurs to enter the field, said a source.

Fitch Ratings on Wednesday downgraded the long-term issuer default rating (IDR) of Tata Motors (TML) to ‘BB-’ from ‘BB’ with a negative outlook. The stock of Tata Motors ended the day at Rs 151.25, down by 3.17%, or Rs 4.95, on the BSE. Data from Bloomberg showed that total debt of Tata Motors stood at Rs 1.06 lakh crore as on March 2019.

Hyundai Motor is planning to develop a new electric vehicle (EV) platform for India to address the mass market. The company plans to invest around $200 million to develop the new platform.

"We are working on a (electric) platform, which will be for Indian mass market and it would cost around $200 million," said S S Kim, MD and CEO of Hyundai Motor India, adding that the product may be launched in the next 3-4 years.

India’s second largest public sector lender, Bank of Baroda, has cut its savings deposit interest rates by 25 basis points (bps) to 3.25% per annum, which is the lowest among its peers. The rate has been revised on saving accounts with balance below Rs 50 lakh and are applicable with effect from July 20. The bank last week also cut its term deposit rates across tenures; for 1-year term deposit, interest rate was cut 25 bps to 6.45% per annum.

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