The second largest private sector lender ICICI Bank has cut its lending rates by 0.10 percent which will make all the loans cheaper, sources said Monday. The move comes weeks after it cut its deposit rates and amid calls for banks to quickly pass on the benefits of rate cuts by the RBI, which stands at a full 75 bps since February. The bank has cut its marginal cost of funds based lending rate (MCLR) across all tenors by 0.10 percent, they said adding the new rates are effective immediately.

The Securities Appellate Tribunal has imposed a fine on regulator Sebi for an adjudicating officer’s order that resulted in litigation and “harrassment” for a former official of BGIL Films & Technologies. It is a rare instance wherein the Securities Appellate Tribunal (SAT) has penalised the regulator for alleged lapses.

Axis Bank’s (AXSB’s) annual report analysis reveals the bank’s focus on improving its earnings metrics and asset quality. As part of its FY20-22 strategy, AXSB targets an RoE of 18% by FY22, with credit cost, opex and business mix identified as the key drivers for the achievement of this goal. Digital initiatives at the bank are gaining traction, with 43% of its personal loans sourced digitally versus 22% in FY18.

Bitcoin slumped, undoing some of this year’s epic rally and amplifying a recent trend of outsized weekend moves. The price of the largest cryptocurrency fell 11% since Friday and traded at $10,901.43 as of 8:15 a.m. in Tokyo. It’s still up about 200% since the start of the year. Other coins also dropped: Ethereum -4.2%, Ripple -5.1%.

Domestic equity benchmark BSE Sensex rallied over 200 points Monday, tracking positive cues from global equities amid easing trade tension between the US and China. The 30-share index was trading 249.57 points, or 0.63 per cent, higher at 39,644.21 at 0930 hours. Similarly, the broader NSE Nifty was quoting 71.35 points, or 0.61 per cent, up at 11,860.20.

The rupee opened on a strong note and rose 17 paise to 68.86 against the US dollar in early trade Monday tracking gains in domestic equities, even as crude oil prices firmed up. Forex traders said, rupee appreciated on reports that Chinese President Xi Jinping and his American counterpart Donald Trump at the G20 summit have agreed to re-launch the stalled negotiations to end the trade war.

Mobile wallet company Paytm has denied a report about charging transaction and convenience fees on its platform after a media report said that Paytm will now charge transaction fees. In a tweet, Paytm said that as of now, it does not levy charges from customers on any payment method including cards, UPI and wallet. In its official blog, the Vijay Shekhar Sharma-founded company also said, “Paytm customers can continue using all services available on our platform without any fee”.

Shares of Bank of Baroda (BoB) slipped 2 per cent to Rs 120 apiece in the early morning trade on Monday after reports surfaced the state-run lender has entered into a transaction with Dewan Housing Finance Corporation(DHFL) to buy loans worth Rs 3,000 crore against its exposure to the non-bank lender.

A SpiceJet plane Sunday overshot the runway while landing at the Surat Airport, while an Air India Express flight had a narrow escape when the aircraft that arrived from Dubai veered off the taxiway after landing at Mangaluru Internatioal Airport.

None of the passengers and crew members on board were hurt in the incident, an airport official at Surat airport said.

Markets regulator Sebi has levied a total fine of Rs 64.40 lakh on eight entities for indulging in unfair trade practices in the illiquid stock options segment on the BSE.

GKS Technology Park Pvt Ltd, Femina Stock Management, Sagar Constructions, SPFL Securities Ltd, Leelaben Sureshchandra Kachadiaunder, Laxmi Rolling & Strips Pvt Ltd, Mahakaleshwar Mines & Metals Pvt Ltd and South Delhi Promotors Ltd are the entities facing penalty.

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