Markets regulator Sebi is considering linking retail investors' exposure to derivatives with their income, a move aimed at preventing them from taking unreasonable positions in risky instruments.

The issue is expected to be discussed at the board meeting of the Securities and Exchange Board of India (Sebi) this month, officials said.

Even as HDFC Bank, India's largest bank by market capitalisation, banned its customers from using debit, credit and prepaid cards to purchase cryptocurrencies such as Bitcoin, stakeholders in the crypto universe are not unduly bothered by the move.

In an email sent out to customers on March 13, the bank noted that "the Reserve Bank of India has also cautioned the public regarding the potential economic, operational, legal and security related risks associated in dealing with such currencies".

Mumbai: Domestic carrier IndiGo continued to operate with a curtailed schedule for the third day on Wednesday with the airline cancelling 42 flights following the grounding of eight of its A320neo planes along with three of GoAir due to Pratt & Whitney engine issues.

The benchmark BSE Sensex drifted 150 points lower and the NSE Nifty slipped below the 10,400-mark in early deals on selling in metal, PSU and realty counters amid weak global cues.

Asian stocks declined following an overnight slide in US equities after President Donald Trump replaced his Secretary of State Rex Tillerson with CIA Director Mike Pompeo, extending a shake-up of his administration, spurring concerns about a one-sided approach to international trade.

In a push to increase the share of green energy in its installed capacity, NTPC has recently come up with tenders for 4,750 MW of renewable power projects. Of this, 2,000 MW are for wind power projects, while the remaining capacity would be solar based. The projects would significantly enhance the largest thermal power producer’s renewable energy portfolio, which now has 870 MW of solar and 50 MW of wind power projects.

Mumbai: Micro, small and medium enterprises (MSMEs) that have current accounts with ICICI Bank can now avail of automated loans in the form of an instant overdraft facility of up to Rs 10 lakh each year. The ‘InstaOD’ will enable a few lakh pre-qualified customers, who have held a current account for at least a year, to instantly get the loan without visiting a branch or submitting physical documents.

Chennai: As part of its 2020 target of 2 million units in sales, passenger vehicle market leader Maruti Suzuki is tying up with business schools to extensively train its dealership manpower. Under the programme, the company has already trained over 500 managers in FY17-18 and will train another 1000 in the next financial year.

The three-day residential programmes are co-curated by Maruti and the faculty of IMT Ghaziabad and MDI Gurugram.

MUMBAI: The Rs 12,700-crore fraud at Punjab National Bank has prompted the Reserve Bank of India to ban the use of letters of undertaking (LoUs) and letters of comfort (LoCs). LoUs and LoCs are two of the instruments issued by Indian banks to domestic importers to get foreign exchange from banks abroad at a cheaper rate.

Mumbai: In a move that will benefit 25 crore account holders, State Bank of India (SBI) has reduced charges for non-maintenance of average monthly balance (AMB) in savings accounts by more than 70%. The revised charges will be effective from April 1, 2018.

The charges for non-maintenance of AMB for customers in metro and urban centres have been reduced from a maximum of Rs 50 per month plus goods and services tax (GST) to Rs 15 plus GST.

BENGALURU: Infosys will not be holding its annual strategy brainstorming session Strap (strategy, action and planning) this year. Instead, new CEO Salil Parekh has chosen to make it an ongoing exercise with a smaller group of internal leaders.

Strap was attended by about 200 senior leaders in Infosys’ sprawling Mysuru campus last year. In the years before, even larger numbers would be part of it.

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