India's largest thermal power generator NTPC Limited announced equity acquisition of two state-owned power plants in Bihar for an estimated Rs 21 billion. NTPC took 50 per cent equity stake in Nabinagar Power Generating Company Pvt. Ltd. (NPGC) and 27.36 per cent Kanti Bijlee Utpadan Nigam Limited (KBUNL) from Bihar State Power Generation Company – which was operating it earlier.

Lending major State Bank of India (SBI) on Saturday said that the central government has permitted its Managing Director B Sriram to take voluntary retirement.

The development assumes significance as Sriram was recently appointed the chief of financially troubled IDBI Bank.

Rajkumar Hirani’s latest directorial venture, Sanju, has given actor Ranbir Kapoor the biggest opener of his career at Rs 347.5 million. The biopic on actor Sanjay Dutt’s life released on June 29, and raced to the top of the list of highest openers of the year, beating Padmaavat, Avengers: Infinity War and Race 3 in the process.

MUMBAI: The Insurance Regulatory and Development Authority of India (IRDAI) has agreed to the Life Insurance Corporation (LIC) of India’s proposal to hike its stake to 51 per cent in IDBI Bank from 10.8 per cent at present. The permission is subject to the corporation bringing down its holding to 15 per cent in future.

New Delhi: Private sector lender Yes Bank and Goldman Sachs on Friday settled a Sebi probe into alleged violation of listing and disclosure norms as well as merchant banker regulations, respectively.

Individually, Yes Bank has paid Rs 40.8 lakh, while Goldman Sachs (India) Securities has remitted Rs 20.80 lakh towards settlement fees, the regulator said in separate orders.

Mortgage lender HDFC is set to launch a $600-million equity fund, targeting investments in middle income, urban and affordable housing. Of the total corpus, the National Infrastructure Investment Fund (NIIF) is in talks with HDFC to commit $100 million.

To be managed by its real estate investment advisory arm HDFC Capital Advisors, this will be the lender’s second equity fund in the housing space.

Despite, the charter aircraft owners and officials from Juhu airport claiming that crashed aircraft had required permissions from Directorate General of Civil Aviation (DGCA) for test flying, the aircraft met with an accident on Thursday afternoon killing five people. However, the fact remains that aircraft was not airworthy yet and was grounded since 2008 when it met with an accident in Uttar Pradesh.

Tata Consultancy Services has informed that its promoter, Tata Sons, will be participating in the proposed share buyback initiative, in an exchange filing.

"We would like to inform you that the promoter and promoter group of the company have communicated the intention to participate in the proposed buyback," said the company in a statement.

The Reserve Bank of India (RBI) has decided to crack the whip on banks’ statutory auditors whose certification of banks’ books has later been found to have lapses.

“In the interest of improving audit quality and with a view to instituting a transparent mechanism to examine accountability of statutory auditors (SA) in a consistent manner,

Even as speculation continues around the launch of WhatsApp Payments in India, the company seems to be at loggerheads with the authorities over storage and processing of user data. The company’s privacy policy specifies that users in the country should agree to their payments data being stored in the US and other countries.

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