India s largest lender State Bank of India (SBI) has appointed consultants to find out the viability of the merger between two operating units of the SBI Card. “SBI Card JV Board approved the appointment of consultants for conducting a study to examine the viability of considering and exploring the possibility of merging JV entities i.e. SBI Business Process Management Services Pvt Ltd (SBIBPMSL) with frontend Company i.e SBI Cards & Payment Service Pvt Ltd (SBICPSL),” SBI said in a letter to stock exchanges.

When the sole dissenter on a stock that has 50 buy recommendations ratchets up his bearish call with a “buyer beware” warning on the whole industry, you sit up. When the stock in question is ICICI Bank Ltd., which on Monday had to downsize an initial share sale of its securities business amid lackluster demand, you take notice.

Bengaluru: Infosys Ltd, under chairman Nandan Nilekani, appears to have drawn lessons from the ugly public spat with its first non-founder chief executive to draw a contract with current CEO Salil Parekh that leaves little scope for potential disagreements or legal trouble.

This development underlines the new board’s decision to keep at bay all potential conflicting issues raised in the past, including a few tetchy issues in former CEO Vishal Sikka’s employment contract .

Bengaluru/New Delhi: Amazon India, which has doubled down on building out its digital payments business in the country, plans to continue investing heavily in the business and introducing more local innovations for Indian customers over the coming quarters, even as it grapples with new know-your-customer (KYC) regulations from the Reserve Bank of India (RBI), which have slowed down growth of new users.

The benchmark Sensex extended yesterday’s gains by rising over 200 points in early trade, tracking firm global cues on reports of trade negotiations between the US and China, easing fears of a trade war.

Investor sentiment was buoyed after the government announced borrowing of 2.88 lakh crore in the April-September period of 2018-19, lower than 3.72 lakh crore it had borrowed in the first half of the current fiscal, and introduce bonds linked to CPI or retail inflation.

Microsoft Corporation has announced the formal opening of Microsoft Garage in Hyderabad. The Garage is a platform for the company’s employees that supports experimentation and encourages problem-solving in new and innovative ways. The Garage facility at the Microsoft India Development Center in Hyderabad will focus on future technologies such as artificial intelligence and IoT among others, and has started engaging with the local community. Besides, the company will soon be opening another Garage in Bengaluru.

A Friend in need is a friend indeed. This old adage aptly sums up the second coming of the Mahindra & Mahindra (M&M) and Ford Motor Company (Ford) alliance. The two auto majors had first floated an equal (50:50) joint venture (JVs) 23 years ago, in 1995, around the time when the fourth phase of economic reforms (1998-2006) had kicked in, with easier FDI norms and an accent on inducting new technologies.

To make funds available to the Indian Railways, the ministry of finance has approved government guarantee of Rs 5,000 crore for bonds to be issued by Indian Railway Finance Corporation (IRFC) before the end of this fiscal. These bonds will be subscribed by Life Insurance Corporation of India (LIC). In addition, the finance ministry has also waived the guarantee fee which otherwise IRFC would have paid, thus decreasing the cost of funds for the transporter.

The recent under performance in Yes Bank’s (YES) stock has been triggered by concerns of worsening asset quality amid tightening regulations. We believe YES has robust resolution processes and will be able to recover the bulk of its stressed assets. The strong corporate loan growth, while opportunistic, is driven with a specific strategy in mind. In time, focus on growing granular assets would regain importance as the current opportunity subsides.

The number of casualties after violence during the Ram Navami procession in West Bengal has increased to 3. While on Sunday, one person died in Purulia, and one in Kakinara, another individual passed away after clashes in Raniganj on Monday.

A massive political conspiracy has already brewed over the attack, and both BJP and TMC have pointed fingers at each other.

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