Mumbai: The Indian rupee on Tuesday opened higher but soon erased all of its gains and was trading marginally lower against US dollar.

The local currency opened at 64.73 a dollar. At 9.15am, the home currency was trading at 64.83, down 0.06% from its previous close of 64.80.

The Bank of Baroda (BoB) played a crucial role in allowing South Africa’s politically influential Gupta family to move hundreds of millions of dollars linked to alleged dirty deals into offshore accounts, an investigation by the Organized Crime and Corruption Reporting Project (OCCRP) and The Hindu has found.

The benchmark BSE Sensex gained over 132 points to 34,578.39 in early trade , rising for the third straight session today on buying by domestic institutional investors (DIIs) amid strong global cues.

Investors are also eyeing Q3 GDP data, to be released tomorrow. Market sentiment was bolstered after a Morgan Stanley report said India’s economic recovery is expected to have gathered momentum and GDP growth for the December quarter is likely to have accelerated to 7 %, broker said.

After the Committee of creditors (CoC) of Bhushan Power and Steel rejected Liberty House’s bid as it was submitted after the February 8 deadline, the UK-based firm on Monday moved the National Company Law Tribunal (NCLT) seeking redress. Arguing its case before the NCLT, the Liberty House’s counsel said the resolution professional (RP) or the CoC should consider its resolution plan and not return it as unopened since “the more they get, the better (it is) for the financial creditors”.

National carrier Air India plans to lease "new iPads with pre-loaded content" for service recovery onboard its aircraft.

According to the tender document issued on February 23, 2018, the airline intends to deploy 150 new iPads on 18 aircraft.

The Telecom Regulatory Authority of India (Trai) has issued a consultation paper on whether the current rules to monitor voice quality are sufficient for fourth-generation technology (4G or LTE) networks.

It had announced the latest quality of service regulations in August last year, revising the methods for assessing of call drops. The regulator had also increased the penalty to Rs 500,000 on telecom companies for not meeting the benchmarks.

The Indian luxury car market is becoming a tale of missed opportunities with frequent changes in tax policy, the country’s biggest luxury car player, Mercedes Benz, has said.

Sales of luxury vehicles account for just 1 per cent of the Indian market of over 3 million cars a year. This is low against an average 3-5 per cent in most other countries.

Billionaire Mukesh Ambani's Reliance Jio today escalated the war against the telecom association COAI, of which it is one of the members, saying the body was spreading patent falsity in denying that the recent press statements were directed against it.

In a strongly-worded letter to the Cellular Operators Association of India or COAI - its second such communication in a week - Jio said that the industry body's veiled references to it as being the sole beneficiary of TRAI's regulations were not lost on anyone.

SBI Chairman Rajnish Kumar today said he expects PNB to clear the bank's $212 million (Rs 13 billion) dues in the Nirav Modi case.

"I am very much confident that things will get sorted out between PNB and other banks," Kumar said in an interview to CNBC TV18.

German luxury car maker Mercedes-Benz today said it has launched the enhanced version of its flagship product Mercedes-Benz S-Class -- S 350 d diesel, and also the S 450 petrol -- in India at a price starting from Rs 1.33 crore.

While the Mercedes-Benz S 350 d is priced at Rs 1.33 crore, the petrol version S 450 is priced at Rs 1.37 crore, the company said in a statement.

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