State-run carrier Air India may have to pay a penalty of $8.8 million to 323 passengers of its May 9 Delhi-Chicago flight, which was delayed as a fallout of withdrawal of relaxations given on flight duty time limitation (FDTL) of the crew.

MUMBAI: In the second chargesheet submitted in the Punjab National Bank (PNB) fraud case, the CBI has alleged that the bank’s retired deputy manager Gokulnath Shetty had received Rs 1 crore as illegal gratification for being part of the conspiracy.

The chargesheet alleged that the bribe amount was routed through one Debajyoti Dutta, proprietor of M/s Rishika Financials, now a witness in the case.

Mumbai, May 17 () Snapping a two-day falling streak, benchmark stock indices opened on a positive note today after BJP's B S Yeddyurappa was sworn in as the chief minister of Karnataka.

Unabated buying by domestic institutional investors set the tone, brokers said.

Mumbai: Smaller cities are driving growth for SBI Card which has been increasing its card numbers at a compounded annual growth rate (CAGR) of 40%. Cardholders in centres outside the top 10 cities account for 45% of spending.

This is largely due to mobile-phone internet as 20% of spending from smaller towns is online with mobile phones and fashion being the most common purchases.

New Delhi: Shares of Reliance Communications (R-Com) plunged nearly 16 per cent a day after the NCLT admitted an insolvency petition filed by Ericsson against the company and two of its subsidiaries.

The stock fell sharply by 15.26 per cent to end at Rs 10.55 on the BSE. Intra-day, it dropped 20 per cent to Rs 9.95.

Mumbai: ArcelorMittal Netherlands BV’s transfer of Rs7,000 crore to settle the dues of Uttam Galva Steels Ltd and KSS Petron Pvt. Ltd is conditional on Essar Steel Ltd lenders accepting its bid for the company in the ongoing insolvency resolution process, two people aware of the matter said.

Bharatiya Janata Party’s (BJP’s) B.S. Yeddyurappa sworn in as Karnataka chief minister on Thursday, after a four-hour, post-midnight Supreme Court on a Congress-JD(S) petition that sought to quash his candidature.

The Supreme Court made it clear that the swearing-in and the government formation would be subject to its final order on the Congress-JD(S) petition before it. Yeddyurappa still has to prove the BJP’s majority in the assembly.

Buoyed by an impressive 32% growth in volume, TVS Motor has reported a 31% growth in its net profit for the fourth quarter ended March 31, 2018 to Rs 165.61 crore, compared with Rs 126.77 crore reported in the same quarter last fiscal. For the full year, taking advantage of the 18% growth in volume, coupled with better per unit realisation, the profit after tax grew 19% to Rs 662.59 crore as against Rs 558.08 crore in the previous fiscal, a company press release said on Wednesday. PBT during Q4 grew 43.3% to Rs 192.10 crore compared with Rs 134 crore.

Axis Bank has put on sale a 600-megawatt (MW) thermal power plant in Madhya Pradesh set up by the Avantha Group-owned Jhabua Power, according to sources. The plant had availed loans worth Rs 3,018 crore from a consortium led by the private lender in December 2009. Axis Bank’s exposure stood at Rs 325 crore. Emails sent to spokespersons at Axis Bank and the Avantha Group did not elicit responses till the time of going to press. The plant became operational on May 3, 2016.

Abdul Gafur Khatri lives on the fringe of great salt marshes in far western India. He doesn’t own a smartphone. He’s never surfed the web. Still, the 53-year-old thinks the internet may be his last hope of reviving a fading art called Rogan that’s been passed down through eight generations of his family.

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