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.

Mumbai: The Indian rupee weakened against the US dollar on Friday, tracking losses in Asian currencies.

Rupee closed at 65.17 a dollar, down 0.03% from its Thursday’s close of 65.18. The rupee opened at 65.15 a dollar, and touched a high and a low of 65.05 and 65.19, respectively.

Almost a decade after Mahindra and Mahindra rode into the US market with its tractors and created the so-called hobby farming segment, the Anand Mahindra-led firm is betting on yet another niche offering to make deeper inroads into the US. The ROXOR, an off-road sports utility vehicle that Mahindra and Mahindra unveiled in Detroit, Michigan, last weekend, could well be automaker’s entry ticket into world’s most competitive and demanding auto market.

State-owned power equipment major Bharat Heavy Electricals Limited (BHEL) on Friday said it has won Rs 117-billion order for setting up a 3x800 Mw thermal power plant in Jharkhand.

"The order for setting up the 3x800 MW Patratu Super Thermal Power Station Expansion, Phase-I (3x 800 MW) has been placed on BHEL by Patratu Vidyut Utpadan Nigam Ltd (PVUNL - a subsidiary of NTPC Ltd in joint venture with Jharkhand Bijli Vitran Nigam Ltd)," BHEL said in a BSE filing.

Mumbai: The National Stock Exchange (NSE) said on Thursday that the Securities and Exchange Board of India (Sebi) has returned its consent application in the high profile co-location matter since the market watchdog is investigating the case.

The NSE had filed a settlement application with the market regulator in July last year. It had sought a settlement with the regulator regarding a probe relating to allegations of unfair access given to some brokers to its high frequency trading systems.

New Delhi: Larsen & Toubro Ltd (L&T) on Thursday moved the National Company Law Tribunal (NCLT) seeking ‘higher priority’ in repayment of dues owed by Bhushan Steel Ltd.

Bhushan Steel owes Rs900 crore to L&T for supply of certain capital goods.

Mumbai: The Bombay high court has dismissed the appeal filed by Reliance Communications Ltd (RCom) against an arbitration tribunal order that restrained the telecom firm from selling its assets without prior approval till 9 June. RCom will challenge the single bench order’s at the division bench, a spokesperson said in an emailed response.

New Delhi: A global coalition aimed at supporting the use of solar power is expected to announce a slew of projects worth about $700 million during its inaugural conference this weekend in New Delhi, according to government officials familiar with the matter.

The International Solar Alliance, an initiative launched at the Paris climate talks in 2015, plans to unveil 20 projects in as many countries during the event on 11 March, said the officials, asking not to be identified as the information isn’t public yet.

After months of trading insults and threats of nuclear annihilation, President Donald Trump agreed to meet with North Korean leader Kim Jong-un by May to negotiate an end to Pyongyang’s nuclear weapons program, South Korean and U.S. officials said on Thursday. No American President has ever met with a North Korea leader.

The South Korean national security director, Chung Eui-yong, told reporters outside the White House of the planned summit, after briefing Trump and other top U.S. officials about a rare meeting with Mr. Kim in the North Korean capital on Monday.

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.