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.

KOLKATA: The telecom regulator has stuck to its guns by reiterating to the government that telcos and tower companies should be mandated to share in-building solutions (IBS) inside residential, commercial complexes and large public places such as malls, hotels and airports, to pre-empt any exclusive contracts, boost quality of indoor mobile coverage and minimise call drops.

Mahindra and Mahindra expects to conclude the financial year with a record sales of medium and heavy duty trucks, Vinod K Sahay, chief executive officer, Mahindra Truck and Bus Division said at a press briefing.

It plans to deliver 10,000 units by fiscal end, the highest since the company entered the heavy duty segment a decade ago. The maker of Blazo branded trucks sold 6714 units in the corresponding period last year.

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.

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