NEW DELHI: Two officials of the Life Insurance Corporation of India have been booked by the CBI for allegedly swindling more than ₹3 crore by making death claims on the basis of forged documents in 190 insurance policies in which they inserted bank accounts of their acquaintances in place of nominees, officials said.

The ED is set to expand its probe in the ICICI Bank-Videocon money laundering case and may soon question some officials of the bank, besides grilling its former CEO Chanda Kochhar again, officials said Thursday.

The Enforcement Directorate (ED) had last month questioned and recorded the statements of Chanda Kochhar and her husband Deepak Kochhar over multiple sessions.

Domestic equity benchmark BSE Sensex fell over 200 points in early trade on Friday led by losses in financial stocks amid concerns over the state of the NBFC sector.

The 30-share index was trading 211.04 points, or 0.53 per cent, lower at 39,318.68, and the broader Nifty slipped 34.25 points, or 0.29 per cent, to 11,809.50.

Amazon.com Inc. Chief Executive Officer Jeff Bezos was interrupted by an animal-rights activist who rushed onto the stage where he was being interviewed during a conference in Las Vegas.

A woman raising concerns about conditions inside an Amazon chicken supplier ran on just as Bezos was being interviewed by Jenny Freshwater, who runs forecasting and capacity planning at Amazon.

Many of the existing non-banking finance companies and microfinance institutions (MFIs) can hope to become small finance banks (SFBs) with Reserve Bank of India (RBI) keen to hand out more licences.

RBI said it is considering on-tap licensing for SFBs to expand the financing activity in the priority sector. The regulator said it would review the performance of the payment banks before the licences on this category are put on tap.

It’s the end of a long era at Wipro as Azim Premji, chairman of the software major, calls it a day, handing over charge to his elder son, Rishad, after leading the company for more than 50 years. The Bengaluru-headquartered company on Thursday announced Premji, 75, will step down as executive chairman on July 30.

Mumbai: Infrastructure major Larsen and Toubro on Thursday acquired 25,000 equity shares of Mindtree Ltd, taking its total holding to 28.9%, as per a regulatory filing.

The shares were purchased at ₹971.03 apiece from the open market, thus spending ₹2.43 crore for the transaction.

Oil refiners Indian Oil Corp (IOC) and Hindustan Petroleum Corp Ltd (HPCL) Thursday said they will contest tax authorities demand for over Rs 4,000 crore in excise duty on ethanol used for doping petrol, saying the sugarcane extract for mixing in fuel is exempt from tax. The Director-General of GST in Pune has slapped IOC, the country’s biggest oil firm, with a tax demand of Rs 4,002 crore for alleged non-payment of excise duty on ethanol mixed in petrol. HPCL has been asked to pay over Rs 346 crore.

The Reserve Bank of India Thursday said it has done away with charges on fund transfers through RTGS and NEFT routes to boost digital transactions and asked banks to pass on the benefits to customers.

The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the National Electronic Funds Transfer (NEFT) System is used for fund transfers up to Rs 2 lakh.

Digital payments firm Paytm has achieved a gross transaction value (GTV) of $50 billion, while recording 5.5 billion transactions in 2018-19.

GTV refers to the sales or transaction volume through a platform.

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