The government’s decision against formulating an electric vehicle policy may not be good news for Mahindra and Mahindra (M&M), the country’s biggest electric car maker. But a bigger setback could be around the corner for the sport utility vehicle (SUV) major.

The government is considering levying a goods and services tax (GST) cess on passenger vehicles (PV) based on length and carbon dioxide (CO2) emission from FY19 against the current criteria of length and engine capacity.

COAI's director general Rajan Mathews on Sunday ruled out tendering an apology to Reliance Jio over the industry body's recent allegations that the orders of sector regulator Trai have been favouring the newcomer.

"There is no question of apologising to Jio as there is no worthy reason to do so, as the COAI's differences are with Trai's order not anything with any specific operator," Mathews told PTI.

Private sector lender Axis Bank is looking at transferring some lumpy bad loans to stronger sponsors through NCLT resolution next year, as it follows a strategy of serving only the better-rated borrowers, a top official has said.

The bank is one of the worst-affected in the private sector after the Reserve Banks asset quality review, which led to a huge increase in bad loans over the past two years.

In a strategic shift, the State Bank of India (SBI) will undertake a major restructuring of its business in the UK from April and ensure greater protection for depositors, India's largest state-owned bank has said.

SBI's UK operations will transform into a subsidiary named State Bank of India UK Limited from April 1, in compliance with wider ring-fencing of capital requirements by the Bank of England.

Procter & Gamble, the world’s largest consumer goods company, announced a new India managing director-cum-chief executive officer last week. Madhusudhan Gopalan, 42, will take charge on April 1 from Al Rajwani. But this is not going to be an easy assignment for him.

The pace of the India business of P&G has been slowing for some time. Gopalan, alumnus of the Indian Institute of Management at Kolkata, has been with P&G all his working life. He will have to improve sales growth, while watching profitability.

NEW DELHI: Aruna Budda Reddy became the first Indian gymnast to clinch an individual medal at the Gymnastics World Cup in Melbourne by securing bronze in the women's vault. Reddy, 22, scored 13.649 to finish behind gold medallist Tjasa Kysslef of Slovania and Emily Whitehead of Australia who took silver. The other Indian woman in contention, Pranati Nayak finished sixth with a score of 13.416.

Mumbai: The Indian rupee strengthened against the US dollar on Friday, tracking gains in local equity markets.

The home currency ended at 64.73, up 0.50% from its previous close of 65.05. The local currency opened at 64.96 a dollar and touched a high and a low of 64.69 and 64.97, respectively.

The International Cricket Council (ICC) will present the ICC Test Championship Mace to India captain Virat Kohli at the Newlands Stadium in Cape Town after the end of the third and final T20 International against South Africa on Saturday.

On behalf of the ICC, ICC Cricket Hall of Famers Sunil Gavaskar and Graeme Pollock of South Africa will make the presentation immediately after the awards ceremony for the T20I series.

The GST provision requiring transporters to carry an electronic way bill or e-way bill when moving goods between states should be implemented from April 1, a group of state finance ministers recommended on Saturday.

GoM head and Bihar Deputy Chief Minister Sushil Kumar Modi said the requirement for intra-state movement of goods of more than Rs 50,000 value would be introduced in phases after assessing the response for inter-state movement.

Nearly 33 per cent of people, specially the younger generation that has grown up in a digital world, care more for their smartphones over engaging with individuals they love and India tops the list with 47 per cent, a report said on Saturday.

The study by telecommunications company Motorola, which is developed in partnership with Nancy Etcoff -- expert in 'Mind-Brain Behaviour and the Science of Happiness', from Harvard University, said: "We, as a generation, are losing control of our lives."

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