State Bank of India (SBI), the country’s largest lender, on Thursday raised its benchmark lending rates by up to 25 basis points for the first time since the marginal cost-based lending rate (MCLR) regime was introduced in April 2016. One basis point is 0.01 per cent.

The rate hike, effective immediately, comes a day after the bank raised its deposit rates by as much as 50 basis points (bps) across various maturities.

Indian equity, forex, money and commodity markets will remain closed on Friday on account of Holi.

The Sensex edged down on Thursday, as subdued global market sentiment offset better-than-expected growth data at home, with bank stocks such as ICICI Bank and State Bank of India among the big losers.

The Central Bureau of Investigation (CBI) on Thursday arrested another senior executive of the Punjab National Bank and claimed to have recovered documents related to Letter of Undertaking from 'chawl' as it continued its searches in connection with the $2 billion fraud.

Internal Chief Auditor (retd) Bishnubrata Mishra, who was responsible for concurrent audit for the period 2011-2015 at PNB Brady House branch, was arrested on Thursday, the agency said.

Bank of Baroda objected to the freezing of some of its funds in South Africa after it was alleged to have helped transfer money meant for the development of a government-backed dairy farm to the politically connected Gupta family and their associates.

The 30 million-rand ($2.5 million) preservation order is wrong because the money due to clients had already been withdrawn and the attachment of an equal amount of the lender’s own funds is “unsustainable,” Luke Spiller, a legal representative for the Bank of Baroda, said in the Free State province’s High Court in Bloemfontein on Thursday.

Shares of Ashok Leyland hit a fresh high of Rs 142, up 3% on the BSE in intra-day trade in otherwise weak market ahead of February sales figures. The commercial vehicles (CV) maker will announce its monthly sales volumes data on Thursday, March 1, 2018.

The stock has outperformed the market by surging 13% thus far in February, after the company reported good sales numbers for the month of January and more-than-doubled net profit in October-December (Q3FY18) quarter.

ABC India surged 19% to Rs 109 on the BSE in intra-day trade after the company announced that it has been awarded an order of Rs 1,419 million from the state-owned company BHEL.

The order is for multimodal transportation of export project cargo from India to the MSTPP Rampal Project in Bangladesh, ABC India said in a regulatory filing.

TCS, India’s biggest Information Technology (IT) services company, is betting big on vocational training harnessing the strength of iON, the company’s digital training unit.

Starting from the third-week of February, TCS iON has announced the launch of “phygital” project, an ambitious initiative which intends to leverage both the physical and digital infrastructure to offer vocational courses in far flung areas across the country.

NEW DELHI: India's largest carmaker Maruti Suzuki's ever-popular entry level hatchback crossed the landmark of 35 lakh in sales units in February, the company said on Wednesday. In fact, the Alto is the highest selling car for the company, not just in India, but across the globe, Maruti Suzuki Senior Executive Director RS Kalsi said.

Mumbai: Sridevi’s fans were seen queuing up outside Celebrations Sports Club near her residence in Lokhandwala, where her body is kept for ‘darshan’ (public viewing), to pay their last respects to the Bollywood diva.

Long queues of fans holding flowers in their hands and chanting prayers were seen as the body of the actor was brought to the venue at 9am along with an entourage of family members.

Benchmark stock indices Sensex and Nifty50 turned cautious as investors await key macroeconomic data due later in the day, amid a weak trend in other Asian markets.

Also, sustained capital outflows and weakening rupee against the US dollar weighed on sentiments.

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