State Bank of India will "redesign" its envelopes used to dispatch tax refund cheques of customers to cover their PAN and contact numbers, after an activist raised that the crucial personal information was visible to anyone which may result in misuse, the bank said.

The move comes nearly 16 months after activist Commodore (retd) Lokesh Batra raised the issue that the window envelopes used by SBI make it easy for someone to glance through permanent account number (PAN) and contact number of the tax payee and misuse it.

A team of CBI officers will attend the extradition trial of industrialist Vijay Mallya, who is facing a probe by the agency into alleged loan defaults of over Rs 9,000 crore, in a London court from Monday.

India's case to bring back the 61-year old businessman will be represented through the Crown Prosecution Service (CPS) of the British government.

A day before Rahul Gandhi was scheduled to file his nomination papers for election to the post of Congress president, Prime Minister Narendra Modi on Sunday attacked the opposition party for the “absence of internal democracy”.

Defending his government’s ambitious bullet train project, Modi said it would bring investment and employment to the region. “Those opposing the bullet train project should travel by bullock carts. We won’t mind,” he said, addressing a public rally in Bharuch.

In October this year, Infosys Non-executive Chairman Nandan Nilekani defended former chief executive officer Vishal Sikka’s philosophy: “Strategy is not a PowerPoint presentation. It is about how you translate it on the ground, with scale and speed.”

Nilekani might have found the right person in Salil S Parekh to execute the vision of software-led services model for Infosys that Sikka developed.

The Telecom Regulatory Authority of India (Trai) on Thursday recommended to the department of telecommunications (DoT) that it should clear a merger proposal within 30 days of it being cleared by the National Company Law Tribunal (NCLT). It also said if DoT has any objections to any merger or acquisition proposal it should file its objections within the stipulated window of 30 days after it is notified about it by the tribunal. Trai’s recommendations are part of ease of doing business in the telecom sector and once the government accepts them the pace of M&A transactions getting completed would quicken. “In the past, it has been noticed that the written approval for merger of service licences from the licensor (DoT) sometimes takes a very long time. Such considerable delays could also hamper the benefits of synergies through merger,” Trai explained.

Finance Minister Arun Jaitley on Friday said the Goods and Services Tax (GST) has made doing business easier for traders by expanding the market place and reducing tax compliance burden.

He further said that the two structural reforms -- GST and demonetisation -- will benefit the economy in the medium and long-term.

NEW DELHI: The equity markets on Friday saw another day of huge losses as both equity benchmarks lost a per cent and Sensex slipped below the psychological mark of 33,000.

30-share BSE Sensex lost 316.41 points to close on 32,832.94 while the broader 50-share NSE Nifty finished trading on 10,121.80, down by 104.75 points.

Ford India Friday reported a 28.63 per cent increase in total sales at 27,019 units in November this year.

The company had sold 21,004 units in the same month last year, Ford India said in a statement.

Success in the United States used to come easily for German automaker BMW AG, whose sporty sedans in three sizes would be snapped up by affluent consumers.

The premium auto business has now become more complicated, as illustrated by the BMW models displayed at this week’s Los Angeles auto show, amid a backdrop of heavy spending by luxury auto brands on new models and technology as they make awkward leaps from a predictable past to an uncertain future.

Automobile major Ashok Leyland has reported a 54 per cent jump in medium and heavy commercial vehicle (M&HCV) sales in November at 10,641 units over last year’s count of 6,928 units.

Light commercial vehicle (LCV) sales rose by 44 per cent to 3,819 units, from 2,646 units a year ago.

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