EPFO has asked banks not to deny monthly pension to people for want of biometric national ID, Aadhaar, and said that alternate means for identification should be used if needed.

The Employee Provident Fund Organisation (EPFO), in a circular to all heads of pension disbursing banks and postal services on Monday, listed out alternate mechanism of handling pensioners who do not possess Aadhaar or those whose identity cannot be authenticated due to wear out of finger print.

The Securities and Exchange Board of India (Sebi) has tightened some Know Your Customer (KYC) rules for foreign investors.

A circular it issued on Tuesday sets stiffer rules for foreign portfolio investors (FPIs) from ‘high risk’ jurisdictions and also from People of Indian Origin (PIOs) who control an FPI. These measures have been taken to align Sebi’s rules around the Prevention of Money Laundering Act.

Indian stocks continue to be under selling pressure this year even as the benchmark indices have remained largely range-bound. According to data, 374 of the BSE 500 stocks have offered negative returns in 2018 despite the Sensex declining only 0.5 per cent during the year. As many as half of the BSE 500 companies saw their shares tumble over 10 per cent each.

Largest mortgage player HDFC today upped its lending rates by up to 0.20 per cent, in line with similar moves by commercial banks.

The increase in the Retail Prime Lending Rate (RPLR), on which it benchmarks the Adjustable Rate Home Loans (ARHL), is effective from April 1, an official statement said.

Taking on Amazon's Alexa-powered smart speakers, Google on Tuesday unveiled its voice-activated the 'Home' and 'Home Mini' speakers in India that can help people with their commute, play favourite songs and videos, plan daily schedule and lots more.

Powered by Google's artificial intelligence-based Assistant, the 'Home' and 'Home Mini' are priced at Rs 9,999 and Rs 4,499, respectively. The speakers will go on sale via Flipkart and at over 750 retail stores.

CHENNAI: As the Indian Space Research Organisation (Isro) is making a second attempt to launch one of the backup satellites to replace NavIC navigation satellite constellation’s IRNSS-1A, whose three rubidium clocks failed, the space agency is taking efforts to install its signal receivers on the ground. Navigation satellite signal receivers which will give positioning and weather alerts to fishermen in deep sea were tested and more such devices will be fitted in boats in Tamil Nadu and Kerala.

New Delhi: HSBC Daisy Investments (Mauritius) Ltd moved the Supreme Court (SC) on Monday, challenging an order of the National Company Law Appellate Tribunal (NCLAT) that cleared the execution of the Rs25,000 crore sale of Reliance Communications (RCom) assets to Reliance Jio Infocomm (RJio).

The matter was mentioned before a bench comprising Justices Adarsh Kumar Goel and Rohinton F. Nariman. The case will be heard on 19 April.

Shares of the Bengaluru-headquartered IT giant Wipro tanked over 2.5% to the lowest level since 28 March 2018 after the company said that client’s insolvency weighs on the profitability and revenue of India’s third-largest IT company Wipro. The stock of Wipro marked the lowest level since 28 March 2018 and the biggest intraday drop since 26 March 2018. Earlier yesterday, Wipro said that the revenue and profitability will be impacted due to an insolvency petition filed by an Indian telecom client.

The SBI has announced the launch of its UK subsidiary, SBI (UK) Limited, with an initial capital commitment of 225 million pounds from its parent entity. India’s largest state-owned bank, which celebrated the new subsidiary with a special event in London yesterday, becomes the first foreign bank in the UK to ringfence its retail division from its wholesale business.

NEW DELHI: Hinduja Group’s flagship truck maker Ashok LeylandNSE -1.33 % expects demand in the segment staying strong and growing by 10-12% in the current financial year boosted by public investments in infrastructural projects and companies that will benefit from the hub-and-spoke model to transport goods post GST.

To cash in on the spike in demand, India’s second largest manufacturer of medium and heavy commercial vehicles (MHCVs) has now outlined aggressive plans to increase market share in light commercial vehicles (LCV).

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