Country’s largest lender SBI, which has not been able to invest in fintech startups despite earmarking funds, is now looking to modify rules to kickstart the infusion, a top official has said.

“We are a public institution and investments in startups are generally considered very risky. We understand that traditional way of investing will not work,” chairman Rajnish Kumar told PTI on the sidelines of an event here over the weekend.

Amid stand-off with iPhone maker Apple, Trai has inserted a clause in its proposed regulation on pesky calls, which will make it compulsory for all devices to provide access to call logs and SMSes required for the functioning of ‘do-not-disturb’ kind of mobile apps.

“Every access provider shall ensure that all devices registered on its network shall support all permissions required for the functioning of such apps as prescribed in the Regulations 6 (2) (e) and regulations 24 (2),” Trai said in a corrigendum to draft rules on May 30.

Markets regulator Sebi has slapped a fine of Rs 1 crore on Green Ray International and its four promoters and directors for not complying with its directions to refund the money collected by the company under collective investment schemes (CIS) from the investors.

State-owned Oil and Natural Gas Corp (ONGC) logged a Rs 4,000 crore loss on natural gas output in the fiscal year ended March 31, 2018 as the Government mandated price for the fuel was less than the cost of production.

“We need at least $4 per million British thermal unit to break-even as compared to current gas price of $3.06 per mmBtu,” a senior company official said.

MUMBAI: The board of ICICI Bank has begun looking for a new chairman as the term of the incumbent, MK Sharma, expires at the end of this month and he may not want a second term. Veteran banker and former Bank of Baroda chairman and managing director MD Mallya is the frontrunner to succeed Sharma, two people aware of the development said. Mallya was appointed to the ICICI Bank board on May 29.

The BSE Sensex surrendered early gains to trade over 137 points lower in opening trade as investors remained on the sidelines ahead of RBI’s monetary policy review meeting beginning today.

RBI’s second bi-monthly monetary policy meeting of 2018-19 will be held from June 4-6.

Loss-making, state-owned firm Bharat Sanchar Nigam (BSNL) has requested the department of telecommunications for allocation of an additional carrier (5 MHz) spectrum in the 2100 MHz band across 19 circles so that it can provide 4G services to shore up its revenues. To boost its case, since it does not want to pay Rs 12,955 crore which is the price of the spectrum as per the latest auction determined price, BSNL has said if it is enabled to provide 4G services

Expressing disappointment over Reliance Jio moving the Delhi High Court against COAI director general Rajan S Mathews, the industry body reiterated that the allegations made by the operator were without merit and that it will defend its stand in the court. COAI, which represents all the major telecom operators including Jio, maintained that the allegations are ‘patently misconceived’ as all communications were issued in good faith and in furtherance of its duty as an industry association.

Mahindra & Mahindra's (M&M) plan to venture into the Iranian automotive market, for which it recently partnered Azim Khodro, is facing some uncertainty after the US reimposed sanctions on the Persian Gulf country.

A company spokesperson, in response to DNA Money queries, said that the implications of the sanctions are being studied and a "considered decision will be made at an appropriate time".

South Korea has asked India to remove restrictions on gold and silver imports, which were imposed to check abuse of free trade agreement leading to significant surge in the inbound shipments.

In August 2017, India restricted imports of gold and silver items from South Korea to check spurt in the inbound shipments of the precious metals from that country.

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