The Ministry of Civil Aviation on Friday invited proposals for recruitment of an asset valuer for disinvestment of Air India. Interested parties are required to submit their proposals by October 16. According to document uploaded by the Department of Divestment and Public Asset Management (DIPAM), the government has in-principle decided to consider the disinvestment of the Air India group as a whole or its constituents fully or part thereof through strategic sale with transfer of management control.

Insurance Regulatory and Development Authority of India (Irdai) is looking into the area of private equity firms investing in insurance companies and might take some decision in next one month. Insurance regulator has also formed a committee on introducing risk-based solvency in the insurance industry. Speaking at the ASSOCHAM Global Insurance Summit event, TS Vijayan chairman of Irdai said, “In insurance companies, we look at it in two different ways, investors and promoters, anybody can invest in the company, for promoter, we are studying (as to) what is the feasibility, if at all somebody is coming what are the conditions that need to be in place. We have put a team, we are legally examining it and we will take a decision in a month.”

The popular model from stable of Maruti Suzuki Ltd -- WagonR has crossed 2 million sales mark for the company.

This is the third model from the company after Maruti 800 and Alto to cross this figure.

Prime Minister Narendra Modi on Saturday laid foundation stone for toilet under Swachh Bharat Abhiyan in Shahanshahpur village of Uttar Pradesh's Varanasi.

Uttar Pradesh Governor Ram Naik, Chief Minister Yogi Adityanath, Minister of State for Rural Development Mahendra Singh and BJP State Unit President Mahendra Nath Pandey were also present during the function.

Punjab National Bank today said it plans to raise up to Rs 5,000 crore equity capital from the markets to fund growth.

The public sector bank however did not give any indication as to whether it would be raised by diluting government equity or issuing Additional Tier-1 (AT1) bonds.

New York/London: The only electric-car maker in India says the business case for the clean technology is starting to make sense—and it won’t require government subsidies to take off in a big way.

Mahindra and Mahindra Ltd, which announced a partnership this week with Ford Motor Co. to cooperate in areas including driverless and electric cars, says there’s money to be made in a nascent EV sector that some carmakers warn is curbing their margins.

Stocks ended the week on a distinctly bearish note after the Sensex tanked 447 points — the biggest fall in over nine months - and the Nifty ended below the 10,000 level today as renewed geopolitical worries about North Korea rattled investors.

The rupee hit near six-month low against the dollar in day trade which dampened the sentiment further.

A squabble between banks and Indian Railway Catering and Tourism Corporation (IRCTC) over fees has resulted in the latter disallowing a number of lenders from using its payment gateway for debit cards. Bankers FE spoke to explained that IRCTC had stopped them from operating on the website because they were unwilling to share a portion of the convenience fees earned on customer transactions. An email sent to IRCTC requesting a comment remained unanswered. The Indian Railways subsidiary’s website is among the most busy portals in the country.

Markets regulator Sebi has imposed a penalty of Rs 9 lakh on ING Vysya Bank’s former official for violating insider trading regulations. The fine was levied on Vinay Agrawal, who was regional head of business banking in ING from August 2011 till June 20, 2012. Later, he held the position of zonal head of cluster business banking till October 10, 2013. The Securities and Exchange Board of India (Sebi) had initiated adjudication proceedings against Agrawal, who was alleged to have not complied with PIT (Prohibition of Insider Trading) Regulations.

Microsoft has supported over 4,000 Indian start-ups, skill training for 30,000 youth and helped train 26,000 teachers while working with several state governments and not-for-profit organisations between April 2016 and March 2017 in India, a new report said on Friday. In its 2017 India Citizenship Report, Microsoft India said it recognises that India’s entrepreneurial landscape would aid robust economic growth in the coming years and was committed to contributing to the Indian start-up growth story.

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