Mumbai: State Bank of India is set to sell a large chunk of its education loan portfolio that has turned sour to clean up its retail loan book, which is currently the fastest growing segment.

The lender has invited bids from asset reconstruction companies (ARCs) for an education loan portfolio amounting to Rs 382 crore that was given to 20,891 students. "These are loans which were disbursed many years ago and have turned into non-performing loans (NPAs).

KOLKATA: Coal India's new pricing policy, which involves selling coal on the basis of total energy content in each consignment, is expected to bring down cost of power generation that would be passed on to consumers, said executives from the company.

"Under the new policy, prices of seven grades have been reduced," CIL chairman Gopal Singh told ET. "In some cases, prices have been reduced even to the extent of Rs 162 per tonne compared with present coal price chart. It would make power generation cheaper."

India will break up its debt-burdened flag carrier into four separate companies and offer to sell at least 51 per cent in each of them as part of a disinvestment proposed by Prime Minister Narendra Modi.

The core airline business comprising Air India and Air India Express — the low-cost overseas arm — will be offered as one company, and the process will be completed by the end of 2018, Junior Aviation Minister Jayant Sinha said in an interview Monday.

Banks should not be surprised when there is a sharp rise in bond yields. Rather, they should “know and understand this risk rather well,” said Reserve Bank of India (RBI) Deputy Governor Viral Acharya (pictured) to the association of bond investors, most of them being from banks.

“Interest rate risk of banks cannot be managed over and over again by their regulator,” Acharya said on Monday, delivering a stern message to banks.

Market regulator Sebi has approved appointment of Vijay Kumar as Managing Director and CEO of the countrys largest agri-commodity bourse NCDEX, a top official of the exchange said.

Kumar, a former chief business officer at NCDEX, is likely to assume the office next week.

New Delhi: The National Company Law Tribunal has approved the proposed merger between Vodafone India Ltd and Idea Cellular Ltd to create India’s largest mobile wireless company, the latter said in a filing to the stock exchanges on Friday.

The two companies now require only the Department of Telecommunications’s approval to proceed with the merger, having already received the green signal from both the antitrust watchdog Competition Commission of India and the Securities and Exchange Board of India, in July.

India's largest automaker Maruti Suzuki is on steady growth and has once again crossed the sales of over a million units in the Indian domestic market. The market leader sold a total of 1602522 units in 2017 reporting a double digit growth once again. Beating its own record the company sold 3 cars ever minute selling 4,390 cars every single day in 2017.

Maruti Suzuki cars have been dominating top-10 sales chart constantly through out the year with Maruti Suzuki Alto and new Maruti Suzuki Dzire being among the company's top selling cars.

Bharat Sanchar Nigam Limited (BSNL), the state-run telecom operator has decided to extend validity of its select mobile data plans by 43 per cent, and increased data offers by 50 per cent. “Bharat Sanchar Nigam Limited (BSNL) has introduced BSNL ‘Happy Offer’ for prepaid mobile customers – 43 per cent extra validity and 50 per cent additional data with unlimited local, STD and roaming calls for prepaid mobile customers,” the company said in a statement.

Two senior officers of ONGC are feared to have been killed along with two others in a helicopter crash off Mumbai on Saturday.

A Pawan Hans helicopter, which was heading to ONGC's north field with seven people on board, went missing off the Mumbai coast, official sources said.

An FIR was lodged here against Patidar quota agitation spearhead Hardik Patel for allegedly delivering a "political" speech at an educational and farmers' welfare event at a village in this district over two months ago, the police said on Saturday.

The complaint, filed by Jamnagar (rural) Sub-Divisional Magistrate (SDM) R K Patel, says that although permission was granted for organising an educational and farmers' welfare event at Dhutarpar village, it turned out to be a "political" programme with Hardik delivering the speech.

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