KOLKATA: ICICI Bank is expected to soon start handling post-auction settlement for the Rs 8,000-crore-a-year tea auction business at all centres.

The bank has already launched postauction settlements at Coonoor and Siliguri auction centres and in a few weeks, it is likely to start a similar process in Guwahati and Kolkata, the two largest tea auction centres in India, and other locations, a senior official of the Calcutta Tea Traders Association told ET.

NEW DELHI: Indian Railways would soon announce a Rs 10 lakh-crore high-speed train corridors construction plan to connect all major cities in the country, covering almost 10,000 kilometres, along the lines of the government’s Bharatmala highways development programme.

“The plan would be announced in April,” a top rail ministry official said. “We'll unveil the routes that would be connected along with the funding mechanism,” the person told ET.

MUMBAI: State Bank of India has decided against funding interest during construction, a move that could spell further trouble for companies seeking project finance from the nation’s largest lender as they cannot keep interest payment pending until projects start generating revenue. The decision is aimed at de-risking the bank’s loan book, SBI chairman Rajnish Kumar told ET.

Despite Bhartiya Janata Party's record win in North-eastern state of Tripura, benchmark indices on Monday opened in red over weak Asian cues and import tariffs on steel & aluminium in the US. The 30-share BSE Sensex was down 193.88 points at 33,853.06 and the 50-share share NSE Nifty fell 66.10 points to 10,392.30.

Nearly half of the IT security professionals, 46 per cent, failed to change their security strategy substantially even after experiencing a cyber-attack, according to the information by the security company, CyberArk.

This level of cybersecurity inertia and failure to learn from past incidents puts sensitive data, infrastructure, and assets at risk, CyberArks "Global Advanced Threat Landscape Report" 2018, said this week.

New Delhi: The CBI suspects that the annual audit reports of Punjab National Bank's internal auditors were either suppressed or ignored by the top brass, resulting in non-detection of the Rs 12,636-crore loan fraud by diamantaires Nirav Modi and Mehul Choksi.

CBI sources expressed surprise that the scam continued from 2011 to 2017-2018 without detection by the top brass of the state-run bank although certain inconsistencies had been flagged in the audit reports.

Agartala/Shillong/Kohima, Mar 3 (PTI): The Bhartiya Janata Party and its ally Indigenous People's Front of Tripura surged ahead of the Left Front in Tripura establishing a lead in 37 seats, while the Congress was ahead in Meghalaya, according to Election Commission sources.

In Nagaland, the ruling Naga People's Front was ahead in 15 constituencies. The BJP and its ally Nationalist Democratic Progressive Party were also leading in 15 seats.

Chicago: Hyundai Motor Co. warned it may rethink how many vehicles it builds in the US, joining the world’s largest automakers in speaking out against US President Donald Trump’s crackdown on steel and aluminum imports.

“Changes to the existing tariff structure could negatively impact our current US production and further expansion,” Jim Trainor, a Hyundai spokesman, said in an email.

The worlds biggest steelmaker, ArcelorMittal, and Japan’s top mill will form a partnership to bid for Essar Steel India Ltd., the insolvent producer that could fetch at least $6 billion. Arcelor and Nippon Steel & Sumitomo Metal Corp. said in a statement they have joined the bidding for Essar, which is on the block after entering an Indian government-mandated process designed to clean-up companies that can’t repay their debts.

Facebook-owned messaging app, WhatsApp, in its latest update, has extended the time frame in which a message can be deleted. WhatsApp had introduced the Delete for Everyone feature last year in November. In this feature, the users were allowed to delete a sent message within 420 seconds or 7 minutes. However, the company has updated its feature allowing the users to delete a sent message in 4096 seconds, that is, 68 minutes and 16 seconds to be exact.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.