Mumbai: The troubles that have rocked Infosys over the past year show no signs of going away in a hurry amid growing suspicion that a very senior official in the $10-billion software major is probably behind the latest letter to securities regulator Sebi seeking to nix the company's petition to settle through the consent route the disclosure lapses relating to the severance package paid to its former CFO Rajiv Bansal.

The consent mechanism allows a party to settle disputes or suspected wrongdoing without the admission of guilt.

Mumbai: At least three state-run lenders—Punjab National Bank (PNB), Syndicate Bank and Indian Bank—are likely to launch their qualified institutional placement (QIP) offerings in the coming weeks, said three people aware of the development. Collectively, these three state-owned lenders are targeting to raise around Rs6,000-7,000 crore.

QIP is a capital-raising tool through which listed companies can sell shares, fully and partly convertible debentures, or any securities other than warrants that are convertible into stocks, to a qualified institutional buyer.

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.

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