The Reserve Bank of India (RBI) has ended the special dispensations granted earlier for non-banking financial corporations (NBFCs) owned by the government.

Instead, it has specified a roadmap, stretching till 2021-22, for these lenders to meet the norms on capital adequacy, provisioning and corporate governance.

Supply of fruit, vegetables and milk is likely to get disrupted in some pockets of India, with a 10-day strike call from Friday, given by a Rashtriya Kisan Mahasangh (RKM), describing itself as an umbrella body of nearly 110 farmer associations.

However, among those saying they are not part of this stir are Confederation of Indian Farmers’ Association (CIFA) and Swabhimani Shetkari Sanghatana (led by Raju Shetty, MP). Hence, the impact is likely to be partial.

New Delhi: India’s Reliance Industries Ltd, owner of the world’s biggest refining complex, plans to halt oil imports from Iran, two sources familiar with the matter said, in a sign that new US sanctions are forcing buyers to shun oil purchases from Tehran.

Reliance’s move, expected to take effect in October or November, came after US President Donald Trump abandoned a 2015 nuclear agreement this month and ordered the reimposition of US sanctions on Tehran.

Mumbai: Multiple years of losses have substantially eroded the networth of engineering major L&T's shipbuilding arm and led its independent auditors to cast “significant doubt” over whether the company can continue as a "going concern".

L&T, the parent, however said its investment in L&T Shipbuilding is “strategic” and affirmed its financial support. In accounting parlance, the 'going concern assumption' typically means that the company will remain in business for the foreseeable future without being forced to halt operations and liquidate its assets.

The country’s second largest IT services firm Infosys on Wednesday said it had completed the acquisition of US-based WONGDOODY. In April, Infosys had said it would acquire WongDoody Holding Company, a US-based digital creative and consumer insights agency, for a total consideration of up to USD 75 million.

Banking operations in the country were hit today as 10 lakh employees, primarily from PSU banks, went on 2-day strike to protest against a “meagre” 2 per cent salary hike offered by Indian Banks Association (IBA) — the management body.

The strike, also supported by employees of some old generation private sector banks and foreign banks, will continue tomorrow.

On back of higher oil prices, State-owned Oil and Natural Gas Corp (ONGC) on Wednesday posted its net profit of Rs 5,915.12 crore, a jump of 37 per cent in three-months to March 31, 2018. The net profit in the fourth quarter of 2017-18, the highest profit in last 17 quarters, was higher than Rs 4,340.18 crore net in the same period of the previous fiscal, according to the company.

NEW DELHI: On Thursday, shares of Tata Consultancy Services (TCS) turned ex-bonus. With this, the company's stock price will halve today.

A share is called as “ex-bonus” when a buyer does not get the right to receive the current bonus.

Amazon Pay, the payments business of e-commerce firm Amazon India, saw widening of its net loss in FY17 at Rs 177.8 crore against Rs 7.88 crore a year back, filings with the Registrar of Companies (RoC) and data platform Tofler show. Revenue from operations during the period increased to Rs 4.08 crore from Rs 28 lakh a year back.

With just a day left for submitting the expressions of interest (EoI) for Air India, civil aviation secretary RN Choubey on Wednesday said that so far they have not received even a single bid. After having extended the last day for submitting the EoIs from May 14 to May 31, the secretary also said that any further extension would not be given. However, Choubey still exuded confidence, adding that he expects bids to come at the last hour.

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