New Delhi: ONGC Ltd is in talks with Saudi Aramco and Kuwait's Petrochemical Industries Company to sell its 26 per cent stake in ONGC-Petro Additions Ltd (OPaL) to repay the bank loan it has taken to fund the acquisition of refiner HPCL.

The state-owned explorer had been keen to induct a strategic partner in OPaL.

New Delhi: The life of a patient in a permanently vegetative state can be ended with her or her family's consent if there's no hope of recovery, as certified by a medical board supervised by the first-class judicial magistrate, the Supreme Court ruled on Friday.

A five-judge constitution bench said this can be done in keeping with an "advance directive" put down in writing by the person himself on the lines of a "living will".

New Delhi: Debt-laden Reliance Communications’ (RCom) proposal to sell infrastructure assets including towers, optic fibre cable and spectrum to Reliance Jio has been cleared by the Competition Commission of India (CCI).

“@CCI_India approves acquisition of RCOM’s towers, optic fiber cable, right to use spectrum and media convergence nodes by RJIO,” the anti-trust regulator tweeted.

Reliance Retail, a subsidiary of Reliance Industries Limited (RIL) today acquired 16 per cent stake of US-based KaiOS Technologies Inc (KTI) for cash aggregating to USD 7 million (about Rs 45 crore). The company acquired 19,04,781 shares of KTI, mobile operating system provider, at USD 3.675 per share, Reliance Retail said in a statement.

State Bank of India (SBI) on Friday put on sale two non-performing assets (NPAs) worth Rs 787 crore and sought bids from asset reconstruction companies (ARCs) on a cash basis, or through a mix of cash and security receipts (SRs), according to a sale document. The two accounts on the block are the bank’s Rs 647.64-crore exposure to Sona Alloys and its Rs 139.36-crore exposure to Zenith Birla (India).

Bank of Baroda (BoB) on Friday became the second large public-sector bank (PSB) to raise interest rates on retail deposits. Term deposits of under Rs 1 crore will now earn 10-35 basis points (bps) more than earlier. The rate on deposits with a maturity of one year has been raised by 15 bps to 6.6%. The corresponding rate at State Bank of India (SBI), HDFC Bank and ICICI Bank are 6.4%, 6.75% and 6.6%, respectively.

KOLKATA: The telecom regulator has stuck to its guns by reiterating to the government that telcos and tower companies should be mandated to share in-building solutions (IBS) inside residential, commercial complexes and large public places such as malls, hotels and airports, to pre-empt any exclusive contracts, boost quality of indoor mobile coverage and minimise call drops.

Mahindra and Mahindra expects to conclude the financial year with a record sales of medium and heavy duty trucks, Vinod K Sahay, chief executive officer, Mahindra Truck and Bus Division said at a press briefing.

It plans to deliver 10,000 units by fiscal end, the highest since the company entered the heavy duty segment a decade ago. The maker of Blazo branded trucks sold 6714 units in the corresponding period last year.

Union Minister of State for Civil Aviation Jayant Sinha on Friday said the government was well on track to complete the stake sale process in Air India by the end of this calendar year as was decided earlier.

"Our timelines are very clear and our goal is to award it (Air India) by the end of June and to have the whole transaction closed and done and transfer of airline to the private sector by the end of this calendar year.

The Reserve Bank of India has asked commercial lenders to provide it with details of all letters of undertaking - a form of credit guarantee at the centre of an alleged $2 billion fraud - issued by them in the past several years, according to four bankers who have seen the directive.

The regulator is ratcheting up pressure on lenders, increasing its scrutiny and laying down deadlines for them to fix gaps in their systems, in the aftermath of the country's biggest bank fraud.

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