State Bank chairman Arundhati Bhattacharya today called for more consolidation among the public sector banks, saying this could reduce their dependence on government for capital. The statement comes after SBI merged all its five subsidiaries and Bharatiya Mahila Bank, which resulted in a massive spike in its provisions and bad loans ratio that touched double digits in the first consolidated results announced earlier this month, though this led to the creation of the 45th largest bank in the world.

Hyundai launched the new Verna in India yesterday and at the event, the company has confirmed that they are planning to introduce a brand new compact hatchback. While Hyundai hasn't confirmed this, we believe that the new hatchback is likely to come with the Santro moniker around mid-2018. Earlier in March too, we had reported that Hyundai might launch the new hatchback with the Santro nameplate in India soon. Before the Hyundai Santro was discontinued in 2015, it was for long one of the most successful and popular models in the company's lineup.

MUMBAI: Realty developer DLF, in a board meeting to be held on Friday, will review and decide on its promoters’ proposal to sell their 40% in its rental arm DLF Cyber City Developers Ltd (DCCDL) to Singapore government’s sovereign wealth fund GIC.

In a regulatory filing, DLF has informed that a meeting of the audit committee will be held on August 25 to consider and review the status of the proposed sale of CCPS held by CCPS holders to a GIC affiliate including the key terms and conditions and make appropriate recommendations to the board.

Infosys co-founder Narayana Murthy's address to investors has reportedly been postponed to next week.

Murthy was scheduled to address investors today, days after being blamed by the Infosys Board for Vishal Sikka’s resignation as MD and CEO.

Nine coaches of the Delhi-bound Kaifiyat Express derailed in Auraiya district of Uttar Pradesh on Wednesday morning, resulting in injuries to at least 74 people, in the second rail accident in the state in four days.

The train travelling from Azamgarh to Delhi collided with a dumper at around 2:40 am between Pata and Achalda railway stations, a spokesperson for the North Central Railway said.

The tussle between Tata Group and Cyrus Mistry keeps on erupting.

Hours after Tata Motors annual general meeting (AGM) ended, Cyrus Mistry's office issued a statement saying its practice of lending without adequate risk assessment, particularly in the Nano and small commercial vehicle (SCV) segment, led to a huge NPA loss of Rs 4,000 crore for both Tata Motors and Tata Motor Finance.

Bharat Heavy Electricals Ltd (Bhel) is changing its business model to focus on solar power generation, create equipment to help thermal plants drastically reduce emissions and get a larger share of transportation business like metro coaches.

This follows the recent rap by the Comptroller and Auditor General for not doing enough to diversify and grow aggressively.

Second largest private sector lender by assets, HDFC Bank, on Tuesday, said it will shortly convert over 4 lakh of its point of sale (PoS) terminals to a digital PoS machine that will offer four additional digital payment options.

DigiPoS will be able to process the Unified Payment Interface (UPI), Bharat QR, SMS Pay and PayZapp, in addition to the facility to pay via debit or credit cards. In the coming months, HDFC Bank will convert its entire network of over 4 lakh PoS machines to DigiPoS without any investment by the merchants.

Hyundai Motor India Ltd (HMIL) today launched a new version of its mid sized sedan Verna with introductory price starting at Rs 7.99 lakh ( ex-showroom Delhi).

The petrol variants of the fifth generation Verna are priced between Rs 7.99-12.23 lakh while the diesel trims are tagged between Rs 9.19-12.61 lakh.

Ashok Leyland has partnered with IIT Madras to carry out research and development (R&D) activities for strengthening battery engineering and related sub-parts, especially for electric vehicles. IIT Madras is the first institution to set up such an initiative to develop the electric mobility ecosystem in India with industry participation.

Ashok Leyland will sponsor the Centre of Battery Engineering (CoBE) at IIT Madras.

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