Mumbai: Post the merger of its five associates, State Bank of India (SBI) has changed names and Indian Financial System Code (IFSC) codes of nearly 1,300 of its branches. The country’s largest lender has changed the names and IFSC codes of branches located in major cities such as Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata and Lucknow, among others.

“Some of our old associate branches are getting merged with SBI branches. When that merger happens, the IFSC codes get changed,” the bank’s managing director (retail and digital banking), Praveen Gupta, said.

Benchmark BSE Sensex advanced by 195 points in early session on Monday on continuous buying by domestic institutional investors amid strong global leads.

The NSE Nifty also went past the 10,300-mark.

When prime minister Narendra Modi flagged off the Hyderabad Metro a fortnight ago, it marked the launch of what has been billed as the world’s largest public-private partnership (PPP) project in the sector. Since it was thrown open to the public a day later, the 30-km stretch (24 stations) has witnessed good ridership, recording a high of 2.4 lakh passengers on a single day.

NEW DELHI: Tata MotorsBSE 0.07 % on Monday said it will increase prices across its range of passenger vehicles by up to Rs 25000 from Jan 2018 due to rise in input rising input costs.

Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, "The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase.

The craze for cryptocurrencies entered a new chapter on Monday as bitcoin futures rocketed by one-fifth of their value at a closely-watched launch, while Asian shares climbed amid optimism about global growth.

The most-traded contract on the Chicago-based CBOE Global Markets exchange opened at $15,460 in New York on Sunday evening, before leaping to a high of $18,700 - a gain of 21 per cent. They were last quoted at $17,550 a premium of more than $1,600 to the price on Gemini Exchange.

To increase their chances in the latest tender floated by state-run Indian Oil Corporation (IOC) for hiring of tankers, domestic shipping companies are asking for an easing of the vessel-age criteria.

Early this month, separate tenders were floated by two state-owned oil refiner-marketer companies, IOC and Bharat Petroleum Corporation (BPC). They want to hire a VLCC (very large crude oil carrier) and a Suezmax tanker, respectively, for a contract period of five years.

The government is unlikely to allow foreign bidders to have a majority stake in Air India, which is in the process of privatisation. The group of ministers (GoM) exploring ways to privatise Air India is of the view that Indian ownership is important for the national carrier tag to be retained, sources said.

However, foreign investors will be able to participate in the bidding to own up to a 49 per cent stake in the loss-making carrier in a partnership with an Indian entity, it is learnt.

State Bank of India (SBI) has sanctioned around 10,000 home loans under the government’s Credit Linked Subsidy Scheme (CLSS) for home buyers from the economically weaker section (EWS), low income group (LIG) and middle income group (MIG) categories, said a senior executive at the bank. Vaijinath MG, chief general manager for real estate and housing business unit, told FE that demand for loans under the subsidy scheme was rising every month. “Last year, we saw demand particularly in the west, in states like Gujarat,” he said.

NEW DELHI: Indian Space Research Organisation (Isro) will launch its latest remote sensing satellite of the Cartosat-2 series, along with 28 foreign satellites riding piggy-back, only in the first week of January, a top Isro official said.

Director of Thiruvananthapuram-based Vikram Sarabhai Space Centre (VSSC), K Sivan clarified that there will be no launch this month and that launch services, which halted after the unsuccessful launch of navigation satellite IRNSS-1H on August 31, will "resume in the first week of the new year".

In a big relief to food companies, the country’s food regulator Food Safety and Standards Authority of India (FSSAI) on Friday issued an order that effectively scraps almost all cases filed against food business operators for alleged violations of food safety standards and regulations in the past.

This would, according to the FSSAI order, prevent “avoidable harassment” of food companies.

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