State owned lenders SBI and UCO Bank are looking for buyers to sell non-performing accounts (NPAs) worth Rs 12.45 billion and have invited bids from ARCs, banks, NBFCs and FIs to clean their books of such dud assets.

"In terms of bank's revised policy on sale of financial assets in line with the regulatory guidelines, we place Zenith Birla (India) Ltd and Sona Alloys Pvt Ltd for sale to ARCs/banks /NBFCs/FIs," SBI said in the bid document.

Amazon.com Inc’s video service will look to add more regional content in India, two company executives said, as it competes with a host of global and local players for a bigger share of a fledgling online streaming market.

In little after a year of its launch in India, Amazon’s bet on original Hindi shows and a library of films in five local languages has paid off — India is the fastest growing market for its Prime Video service, Tim Leslie, global vice-president at Amazon Prime Video, told Reuters in an interview late Saturday, on the sidelines of the India Today Conclave 2018 in Mumbai.

MUMBAI: The Securities and Exchange Board of India (Sebi) is set to buy IDBI BankBSE -5.54 %'s building in Bandra-Kurla Complex (BKC), Mumbai's financial hub, for close to Rs 1,000 crore.

The capital market regulator will acquire the state-owned bank's seven-storey building, which has 3.21 lakh square feet of super builtup area, close to its existing office, making this the second biggest transaction at BKC since 2013.

Onavo, the data-security app maker that Facebook acquired in 2013, has launched a new Android app that let users lock other apps on their devices using a PIN code, pattern or fingerprint. ‘Bolt App Lock’ — from the Israeli company that provides analytics products for mobile apps — adds to the long list of mobile applications that help users lock other apps on their smartphones.

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.

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