NEW DELHI: Idea Cellular today said its capital raising committee has approved an issue price of Rs 82.50 per share for sale of shares through a qualified institutional placement (QIP) to raise as much as Rs 3,500 crore.

"The capital raising committee of the company at its meeting today approved the closure of the issue for the QIP," Idea said in a regulatory filing.

CHENNAI: Yes Bank has told the BSE that it has received necessary board approval for raising debt to the tune of Rs 3,000 crore.

Yes Bank told the BSE on Wednesday that it would be raising Rs 3,000 crore via debentures -- that are rated, listed, non-convertible, redeemable, unsecured, basel III compliant tier-2 bonds -- after it got the go-ahead from its Capital Raising Committee.

Mumbai/New Delhi: The Reserve Bank of India (RBI) on Tuesday directed payments banks to get their customers’ information verified by third parties, in a blow to Bharti Airtel Ltd which runs a payments bank with customer data verified by its own telecom business.

An RBI letter sent to chief executive officers of payments banks said “reliance on KYC (know-your-customer) done by telecom companies is not permissible”. Mint has reviewed a copy of the letter.

Indian stock markets inched higher following an uptick in Asian peers on Wednesday with Sensex climbing 207 points and Nifty reclaiming 10,400-mark. The benchmark Sensex rose 207.77 points to hit the day’s high of 33,911.36. Shares of the fraud-hit Punjab National Bank managed to hold the losses trading little changed at Rs 116.9, up by 0.3%.

NEW DELHI: Bank of Baroda had classified the Rs 435 crore loan given to Vikram Kothari-run Rotomac Global a "non-performing asset" in October 2015 and a "fraud" in December 2017 but it came running to investigating agencies on Sunday after the Nirav Modi swindle came to light, fearing that Kothari too might leave the country.

Google today announced the launch of a unified payment service app for its Google Pay platform.

Google Pay will combine the features of the already existing Google Wallet and Android Pay. The new app is presently only being rolled out in select countries such as the UK and the USA.

Actor Kamal Haasan, who is all set to launch his political party in Madurai today, faced his first political hurdle today after the school education department denied him permission to visit a Rameswaram school where former President APJ Abdul Kalam studied.

Haasan who began his political journey with the visit to Kalam’s residence was scheduled to visit the school and to interact with the students but Hindu Munnai, a fringe outfit, opposed his visit.

Cellular Operators Association of India (COAI) on Tuesday lashed out at Telecom Regulatory Authority of India (Trai) saying its latest tariff order amendment strengthens the ambitions of one particular operator with deep pockets and monopolistic designs.

Without naming the new telecom player Reliance Jio, COAI in a statement said, "Over the past 12-18 months, regulation after regulation put out by Trai have ended up in distorting the competitive landscape in favour of one operator while putting all other operators at a serious disadvantage.

Bharat Sanchar Nigam Limited (BSNL) is making progress in bringing down its unpaid dues through an ongoing nationwide recovery drive, an official said here on Tuesday.

According to officials of Calcutta Telephones, the recovery drive till March 31 had so far contributed substantially to the circle's earnings, at a time when revenues are under pressure due to falling tariffs.

An otherwise strong earnings season for India’s companies is proving just not good enough for some, after a surprise loss by the country’s biggest bank renewed worries over credit quality.

State Bank of India’s December-quarter results spurred Motilal Oswal Securities Ltd. to pare its earnings per share estimate for NSE Nifty 50 Index firms by 3 per cent for the current fiscal and by 0.6 per cent for the financial year starting April 1.

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