The Ministry of Corporate Affairs (MCA) has favoured a ban on crypto currencies, with its investor protection arm, Investor Education and Protection Fund (IEPF) Authority, pitching for the policy change. “What I am saying is when it comes to investor protection, we have to take a stand against certain things, whether it is a ponzi scheme. And we think that crypto currency is a ponzi scheme and it should be banned,” CEO of IEPF Authority Anurag Agarwal told reporters.

The automobile industry is gearing up for a major shift. With stricter emission norms - BS VI - kicking in from April next year, it might be the end of the road for small diesel cars. Many automakers are of the view that upgradation to new technology will make diesel cars expensive, especially the smaller ones, taking it beyond the affordability level of Indian consumers. Though, bigger diesel SUVs will continue to play.

Hundreds of Air India passengers were left stranded at several airports across the world as its check-in software stopped functioning for around six hours, the airline said Saturday.

According to airline sources, the software, which is of Atlanta-based SITA company, was not functioning approximately from 3 am to 9 am Saturday. Consequently, boarding passes could not be issued at major airports across the world and various flights were delayed.

SBI General Insurance, a subsidiary of SBI, on Friday reported a 11.3 per cent rise in profit before tax at Rs 470 crore for the financial year ended March. It was Rs 422 crore in previous year. The solvency ratio for FY18–19 is 2.34 against 2.54 for the same period last year. SBI General is looking at listing of its shares in the second half of the current financial year. Joint venture partners — SBI and Insurance Australia Group — are working on modalities for listing after September 2019, top company executive said.

Private lender YES Bank posted its first quarterly loss, of Rs 1,507 crore, during the January-March 2019 period on account of a fall in non-interest income and a sharp increase in provisioning for bad loans, mainly due to defaults by the Infrastructure Leasing & Financial Services (IL&FS) group and Jet Airways. It had reported a net profit of Rs 1,179 crore in the fourth quarter of FY18.

Mumbai: Based on the recommendations of the Kotak panel, the Securities and Exchange Board of India had decided to restrict royalty payments to 2%. Royalty payment is the fee paid by Indian subsidiaries to overseas parent companies for the usage of the brand.

Equity benchmark BSE Sensex jumped over 150 points in early trade Friday led by banking stocks amid unabated foreign fund inflow.

The 30-share index was trading 152.41 points or 0.39 per cent higher at 38,883.27, and the NSE Nifty rose 50.90 points or 0.44 per cent to 11,692.70.

Axis Bank on Thursday swung to a profit of Rs 1,505.06 crore for the three months to March 2019 against a loss of Rs 2,188.74 crore in the corresponding quarter a year ago. The bottomline was driven by strong net interest income growth and a sharp drop in provisioning for bad loans. The private lender witnessed a 20.63% y-o-y rise in net interest income (NII) to Rs 5,706 crore. Provisions fell 62.23% y-o-y to Rs 2,711.43 crore.

Maruti Suzuki has decided to bring the curtains down on diesel vehicles from its stables beginning next fiscal. The company, which is the country’s largest passenger vehicle manufacturer, will thus be the first company to go completely non-diesel with the Bharat Stage VI (BS VI) emission norms kicking in from April 1, 2020.

All models with diesel engines less than 1.5 litres will be phased out, Maruti Suzuki chairman RC Bhargava said on Thursday. “In small cars, the cost of upgrading diesel engines to BS VI standards will be substantial.

From debuting in 1991 as an action hero to interviewing Prime Minister Narendra Modi on all things ‘apolitical’ right in the middle of the general elections, Bollywood actor Akshay Kumar has certainly come a long way. Consider how the actor, who ranked 76th in the global Forbes Top Earning 100 Celebrities 2018 list, also secured the third spot in the Duff & Phelps Celebrity Valuation Report 2018, with a total brand valuation of $67.3 million, behind only Virat Kohli and Deepika Padukone. This was one rank up from 2017 for Kumar, when he featured at number four.

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