SBI has introduced a special leave for employees who have suffered a bereavement in the family. This will be a one-week paid leave on the loss of a family member.

SBI deputy MD Prashant Kumar said that besides leave, the bank also took a decision to provide 75% subsidy on mediclaim premium for retired employees earning pension up to Rs 20,000. For those earning Rs 20,000-30,000 pension, the subsidy would be 60%. The bank has also expanded scope of mediclaim cover for employees' family to 100% of claimed amount as against 75% earlier.

Shares of Anil Ambani-owned Reliance Communications (RCom) zoomed 35% to Rs 41.77, also its 52-week high on the BSE in early morning trade after Mukesh Ambani-led Reliance Jio said it will acquire RCom's mobile business assets including spectrum, mobile towers and optical fibre network of the company. On the National Stock Exchange (NSE), the stock rallied 30% to Rs 40.15 in intra-day trade.

"Reliance Jio Infocomm, a subsidiary of Reliance Industries Limited, today announced signing of definitive agreement for the acquisition of specified assets of Reliance Communications Limited and its affiliates," Reliance Jio said in a statement.

The Securities and Exchange Board of India (Sebi) on Thursday said exchanges would be allowed to deal in both equities and commodities from October 2018, a move that would benefit the National Stock Exchange (NSE), the BSE, and the Multi Commodity Exchange (MCX), which currently trade in either of the two categories.

The capital markets regulator also announced easier access norms for foreign investors and capped cross-holdings in credit rating agencies (CRAs) as well as mutual funds (MFs) to safeguard investors’ interest.

MANGALURU: Slowdown in economy coupled with high stress level in the banking sector is expected to restrict credit growth at around 8 per cent during the current fiscal despite government's thrust on loan expansion, reveals the ASSOCHAM study.

However, this would be slightly better than the five decade low growth of 5.1 per cent in non-food credit recorded for the financial year ended March 2017.

NEW DELHI: For the second day in row, the equity markets witnessed profit booking towards the fag end of the trading session as the benchmark indices could not hold on to the gains made through the day.

30-share BSE Sensex lost 63.78 points to close on 33,848.03 while the broader 50-share NSE Nifty finished on 10,477.90, losing 12.85 points.

Telecom operators have gone all out to tackle the Reliance Jio freebie juggernaut that has taken the country’s fancy. Now, after Vodafone and Airtel, Idea Cellular has come up with a massive new plan. The company has upgraded its Rs 309 plan and will now offer its users 1.5 GB data per day. Previously, Idea was giving 1GB daily data at the same price. This means that in 28 days, which is the validity of the pack, the company will offer a total of 42GB instead.

NEW DELHI: A consortium of Indian state-run oil and gas hunters led by ONGC Videsh Ltd (OVL) appears set to drop anchor in Israeli waters for the first time amid New Delhi's growing closeness with Tel Aviv and a widening chasm with Iran over its recalcitrance in awarding the Farzad-B gas field discovered by the same Indian grouping.

NEW DELHI: The Lok Sabha on Wednesday approved a bill to hike cess on luxury vehicles from 15 per cent to 25 per cent with a view to enhance funds to compensate states for revenue loss following the rollout of GST.

The GST (Compensation to States) Amendment Bill, 2017, was passed by the Lower House amid uproar by the opposition over controversial comments made by Union Minister Anant Kumar Hegde on secularism and the Constitution.

Mumbai: The attempts by realty major DLF to bring down its debt received a boost on Wednesday with its shareholders approving an issue of debentures and warrants to promoters in lieu of a Rs 11,250-crore equity infusion into the company.

This comes a day after the promoters concluded the sale of a 33.34 per cent stake in its rental arm to Singapore's GIC for Rs 9,000 crore.

Maruti Suzuki (MSIL) on Wednesday entered into an agreement with the Delhi government to set up state-of-the-art automated driving test centres across 12 locations in the capital. A memorandum of agreement (MoA) was signed between the department of transport, NCT of Delhi, and Maruti. Under the MoA, Maruti will set up automated driving test centres comprising scientifically-laid driving test tracks, high-definition cameras and an integrated IT system, as approved by the department of transport.

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