Mumbai: HDFC Bank is looking to double the penetration of credit cards among its customer base over the next three years.

The lender, which is already the country's largest issuer had around 1.06 crore outstanding credit cards as of March this year. This comprises close to 25 per cent of its base of four crore customers.

New Delhi: State run oil marketing companies on Monday raised petrol and diesel prices by 17 paise and 21 paise per litre respectively, after retail automobile fuel prices remained unchanged since 24 April.

This comes in the backdrop of voting for Karnataka assembly elections getting over on Saturday. Indian Oil Corporation chairman Sanjiv Singh had earlier said that his firm had decided to “temporarily moderate” prices.

New Delhi: Most of the $1.5 billion allocated by Suzuki Motor Corp. for its research and development (R&D) activities will be spent on its most profitable unit Maruti Suzuki and help the Indian firm maintain its 50% market share amid increasing competition from European and Korean manufacturers.

Mumbai: Smaller developers won nearly half of all road-building contracts given out by the National Highways Authority of India in 2017-18, NHAI data compiled by investment bank Equirus Securities showed.

The biggest contract winners were large companies such as Dilip Buildcon Ltd (Rs18,770 crore), IRB Infrastructure Developers Ltd (Rs8,900 crore) and Ashoka Buildcon Ltd (Rs5,500 crore).

Even as over 40,000 MW of private power plants are stressed for want of power purchase agreements (PPA), state-run NTPC is busy adding new capacities at high capital costs. This is thanks to a strong legacy of PPAs executed before 2011 under the erstwhile cost-plus system.

Aiming to provide regular power to farmers through agricultural feeders, the Maharashtra government has issued a tender inviting bids for 2 MW-10 MW capacity solar projects totalling 1,000 MW under the Mukhyamantri Saur Krushi Vahini Yojana . Although termed a good initiative that would boost agricultural output, the decision to fix ceiling tariff at Rs 3.30/unit under the scheme has seen questions being raised about its viability.

NEW DELHI: Telecom companies have asked the sector regulator to take a pragmatic view on levying penalties, especially over marginal deviations from quality of service benchmarks as some of those may have been caused by natural events such as floods or heavy rains.

BENGALURU: Ravi Venkatesan, the former Infosys cochairman, is discussing a potential offer to join US ecommerce giant Amazon in its India business in a senior role, said two sources familiar with the matter. Venkatesan, who has earlier also served as the head of Microsoft India, could join as either a board member, chairman or a senior advisor at Amazon India, the sources said.

Just a day before Karnataka polls result, key indices on Monday opened in green. The benchmark BSE Sensex was trading at 35,591.51 mark and was up by 57.25 points while Nifty was tradung beyond 10,800 mark. Market breadth, indicating the overall health of the market, turned positive. On the BSE, 770 stocks rallied, 661 stocks declined, while 55 stocks remained unchanged.

One97 Communications, the company that owns Paytm, plans to process Rs 600 billion in monthly bank transfers by the end of this year. The company is also planning to invest Rs 50 billion in its core business, expecting to increase the number of transactions from a billion to 2 billion.

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