State Bank of India has raised its rate on all bulk term deposits by one per cent (100 basis points) from Friday. The revision comes after about a year and also signals the end of a rate easing cycle, said bankers, which had begun in the second quarter of 2015-16.

Bulk deposits are those where amounts kept are at least Rs 1 crore or above. Senior officials at the country's largest bank said interest rates offered on bulk money raised from companies and institutions were below those offered by competing banks. This was affecting corporate relationships, with SBI losing in bids sought by those entities for parking their surplus funds. SBI has seen an outflow of over Rs 70,000 crore from bulk deposits in a year.

Bank of Baroda (BoB) is scaling down its overseas presence as part of a rationalisation process. It is planning to shut down a branch in Hong Kong and a representative office in Thailand.

A senior bank executive said as Hong Kong was the financial hub of Asia it remained a key business centre for the bank and it would continue to strengthen its presence with the remaining branch.

Sebi today asked bourses to ensure that brokers provide details about securities pledged by a client as well as funds raised by way of pledging.

The move is part of efforts to strengthen supervision framework for stock brokers.

In a circular, Sebi has asked bourses to put in place a framework and ensure that brokers upload "ISIN wise number of securities pledged, if any, and funds raised from the pledging of such securities and consolidated number of securities pledged, if any, and the funds raised from the pledging of such securities" on a monthly basis.

Earnings for companies in India's broader NSE Nifty rose at their best pace in six quarters during July-September, according to Thomson Reuters Eikon data, showcasing how profits are finally looking up after a prolonged spell of sluggish growth.

Net profits for companies in the index rose by an average of 11.9 percent in the September quarter, the biggest gain since a 31 percent expansion in January-March 2016, data available for 25 companies in the index showed.

While one giant Seattle-area company looks for a second headquarters, another is doubling down on its current location. Microsoft Corp. plans a multibillion-dollar overhaul of its main campus in Redmond, Washington, adding space for 8,000 more workers and creating areas for collaboration and recreation as the company tries to keep up with growth in hiring and trends toward more open office spaces. The five- to seven-year plan will knock down 12 low-rise buildings at the heart of the company’s original headquarters and replace them with 18 new buildings, many of them double the height, President and Chief Legal Officer Brad Smith said in an interview. With the added square footage, the campus’ space will be the equivalent of 180 football fields.

Mumbai: State-run Oil and Natural Gas Corp. Ltd (ONGC) may take legal action if the Directorate General of Hydrocarbons’ (DGH) plan to sell 60% stake in the company’s hydrocarbon fields is taken forward, two company officials said.

Upstream regulator DGH plans to sell a 60% stake in 15 hydrocarbon blocks—11 of ONGC and four of Oil India Ltd—as part of a plan to increase output, a 6 November Times of India report said. Such a sale, if the proposal goes through, would mean that operational control will go to private firms.

The district administration of Shahjahanpur, Uttar Pradesh, has slapped a fine on Nestle India and its distributors after its popular noodles brand Maggi allegedly failed to pass the lab test, even as the FMCG major maintained that it is a case of application of incorrect standards.

The district administration had imposed a fine of Rs 45 lakh on Nestle, Rs 15 lakh on its three distributors and Rs 11 lakh on its two sellers.

A woman passenger and an Air India duty manager slapped each other at the Indira Gandhi International Airport on Tuesday morning after she was denied boarding for reporting late, police said.

The incident took place after the Ahmedabad-bound woman passenger had an argument with the official.

Markets regulator Sebi has ordered a forensic audit of Svam Software, which figures among 331 suspected shell companies, after finding prima facie evidence of misrepresentation of financials by the firm.

While calling for the forensic audit, the Securities and Exchange Board of India (Sebi) has lifted the trading restrictions imposed on the firm.

India's largest realty firm DLF has called a board meeting on December 1 to approve its proposals to issue equity shares to institutional investors and warrants or debentures to promoters.

DLF is required to launch QIP (qualified institutional placement) and also issue of warrants or debentures because of proposed infusion of about Rs 10,500 crore by promoters into the company.

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