Reliance Jio topped the chart in 4G network speed for the month of April with an all-time high download speed of 19.12 megabit per second, as per the latest Trai report.

The Telecom Regulatory Authority of India (Trai) collects and computes data download speed with the help of its MySpeed application on a real-time basis. Theoretically, a user can download one Bollywood movie in about five minutes at 16 mbps speed.

Shares in Reliance Communications rose as much as 4.6 per cent on Monday after the debt-laden mobile carrier said it won a seven-month reprieve on its loans from lenders.

The company's chairman, billionaire Anil Ambani, said on Friday it will receive a "standstill" on debt servicing obligations until December as it works on two deals that it expects will reduce its debt by 250 billion rupees ($3.9 billion), or 60 per cent of its $7 billion debt.

Four militants were killed Monday in a retaliatory fire by security forces as they attempted to attack a CRPF camp at Sumbal in Bandipora district of Jammu and Kashmir.

The heavily armed militants tried to enter the camp of 45 Battalion CRPF at Sumbal in Bandipora at around 4:10 am by opening fire at the sentry post, a police official said.

Tata Consultancy Services (TCS) applied for only a third of the H-1B work visas this year compared to 2015, helped by increased hiring from engineering campuses and B-schools in the US.

The move comes at a time when the Indian IT companies are confronted by closer scrutiny and tighter visa norms in the US, a market that accounts for nearly 60 per cent of India's IT exports.

The GST Council on Saturday, cleared the pending rules, including transition provisions and returns, with all the states agreeing to July 1 roll out of the Goods and Services Tax.

"We were discussing the rules and (they) have been completed. Transition rules have been cleared and everybody has agreed for July 1 roll out," Kerala Finance Minister Thomas Isaac told.

GMR Infrastructure's standalone net loss widened to Rs 2,478.7 crore for the quarter ended March 2017, mainly due to change in accounting norms.

"This loss what you are seeing is more of accounting entry or accounting adjustment," GMR Group CFO Madhu Terdal told.

Calcutta, June 2: The Reserve Bank of India has directed public sector lender Dena Bank to set its house in order, the third bank against which the apex bank has initiated the revised prompt corrective action (PCA) as the bad loan problem asphyxiates Indian banking.

Dena's high non-performing assets and its negative return on assets have prompted the apex bank to take action against the Mumbai-based bank.

Mumbai: Stretching its strong recovery momentum for the third straight day, the rupee today rose by 4 paise to a fresh one-week high of 64.44 against the US dollar on sustained selling of the American currency by exporters.

Despite bullish dollar sentiment overseas ahead of key US macro data release, the domestic unit showed abundant strength, largely helped by robust capital inflows into equity and debt markets.

St. Petersburg: The State Bank of India expects to complete a planned share sale by year-end, probably through a qualified institutional placement (QIP), bank Chairman Arundhati Bhattacharya said on Friday.

SBI, India’s biggest lender by assets, has shortlisted six banks to manage the sale that could be worth up to $2.3 billion.

Mahindra FirstChoice Wheels Ltd, the used car arm of the Mahindra group, plans to expand its sales network and double sales in fiscal 2018 as it expects robust demand for pre-owned vehicles on the back of strong new car sales, chief executive Nagendra Palle said.

The company, which sold 225,000 used cars in the year ended 31 March, expects to double the volume to 550,000 by the end of the current fiscal year, Palle said in an interview on Wednesday.

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