The Finance Ministry today said that there is no proposal for merger of four public sector banks, including Canara Bank, and Dena Bank.

"Syndicate Bank, Canara Bank, Vijay Bank and Dena Bank have apprised that they have not made presentations about their merger or consolidation to the Ministry of Finance," Minister of State for Finance Shiv Pratap Shukla said in a written reply to the Lok Sabha.

NHAI has awarded two projects worth Rs 13.95 billion in Karnataka to Ashoka Concessions and Dilip Buildcon for widening of stretches of NH 4A, an official statement said today.

The four-laning of Belgaum-Khanapur Section of about 30 km has been awarded to Ashoka Concessions on Hybrid Annuity Mode at a cost of Rs 8.92 billion, it said.

Mumbai: The Indian rupee on Friday pared all the morning losses and closed one-week stronger against US dollar post US President Donald Trump decided to slap tariffs on China.

The home currency ended at 65.01 a dollar, up 0.16% from its Thursday’s close of 65.11. The rupee opened at 65.18 a dollar and touched a high and a low of 64.98 and 65.20, respectively.

New Delhi: State-run power equipment maker BHEL on Friday entered into a technology transfer agreement with Indian Space Research Organisation (Isro) for the manufacturing of space-grade lithium-ion cells of various capacities.

BHEL will utilise technology developed by Isro at its Vikram Sarabhai Space Centre (VSSC), a BHEL statement said.

US President Donald Trump took his boldest step to level the economic playing field with China, ordering sweeping tariffs on Chinese imports in a move that could escalate fears of a trade war between the world’s two biggest economies.

The president instructed US Trade Representative Robert Lighthizer to levy tariffs on at least $50 billion in Chinese imports.

India’s telecom subscriber base dipped to 117.5 crore at the end of January with smaller operators losing bulk of their customers, as per monthly Trai report released today. “The number of telephone subscribers in India declined from 1,190.67 million at the end of December 2017 to 1,175.01 million at the end of January 2018, thereby showing a monthly decline rate of 1.32 per cent,” the Telecom Regulatory Authority of India said.

New Delhi: The Central Bureau of Investigation (CBI) registered a Rs1,394.43 crore bank fraud case against Hyderabad-based Totem Infrastructure Ltd on a complaint by state-run Union Bank of India.

“The CBI registered a case today (Thursday) on a complaint by Union Bank of India against Totem Infrastructure and its promoters and directors Tottempudi Salalith and his wife Tottempudi Kavita of Hyderabad,” a person familiar with the developments said.

Mumbai: Axis Bank has refused to comment on reports of resignation by two senior executives — deputy MD V Srinivasan and head of corporate and transaction banking Sidharth Rath — on grounds that they are speculative. The bank also did not comment on reports that it has hired S M Sundaresan, head of corporate banking at Standard Chartered, as head of corporate banking.

India’s second-largest IT services company Infosys on Thursday said it has made a follow-on investment of $1.5 million in Waterline Data Science. The company will make the investment through its corporate venture fund — Infosys Innovation Fund. The Fund, with a corporate fund of $500 million, was set up in 2015 during former CEO Vishal Sikka’s initiative to invest in technology companies.

Vodafone and Aditya Birla Group’s Idea Cellular, which are in the final stages of completing the merger of their operations in the country, on Thursday announced the new leadership team of the merged entity. As indicated earlier, Kumar Mangalam Birla, the chairman of the AV Birla Group, will be the non-executive chairman of the merged entity.

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