The country's largest lender, the State Bank of India (SBI), has expressed apprehensions that demonetisation may continue to result in slowing down of the economy and adversely affect its business.

The government had discontinued Rs 500 and Rs 1,000 banknotes from November 9, 2016, and issued new Rs 500 and Rs 2,000 currency notes in exchange for the discontinued ones.

The country’s top car maker, Maruti Suzuki, is now bigger than the rest of the industry put together for the first time in over a decade. In the first two months (April & May) of the current financial year (FY17-18), the company sold 274,329 passenger vehicles (cars, vans and utility vehicles) in the domestic market, about 19,300 more than the 254,930 units sold by the rest of the industry players put together. Maruti clocked a volume growth of over 19 per cent in these two months, much higher than the industry’s growth of 12 per cent.

After a slow start, export of cars from Ford India’s factory at Sanand, close to this city, expanded during 2016-17. The facility produced 78,930 cars for export, at par with the shipment abroad from its Chennai factory.

Sanand makes Ford’s hatchback, the Figo, and the Figo Aspire sedan. Sale of the Figo had fallen by almost 60 per cent in the latter half of 2015-16 (October to March). Those of the Aspire fell 74 per cent between August 2015, when it was launched, and March 2016.

State-owned Oil and Natural Gas Corp (ONGC) is keen to acquire India's third-biggest fuel retailer HPCL in a Rs 42,254 crore deal after finding Bharat Petroleum Corp Ltd (BPCL) too expensive to buy.

Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, ONGC evaluated options of acquiring either Hindustan Petroleum Corp Ltd (HPCL) or BPCL - the two downstream oil refining and fuel marketing companies.

Nearly seven lakh farmers who have availed crop loan through cooperative banks in Rajasthan will get an insurance cover of Rs 6 lakh by giving only Rs 27 as yearly premium.

Rajasthan government has raised the insurance amount by one lakh in the present fiscal year in the "Raj Sahakar personal accident insurance scheme" , targeted to cover more than 25 lakh farmers, a state minister said.

Mumbai: The Indian rupee on Friday weakened marginally against the US dollar ahead of the key macro economic data due next week. Traders are also cautious before next week’s Federal Reserve policy meeting.

The rupee closed at 64.25, down 0.07% from its Thursday’s close of 64.21. The rupee opened at 64.28 a dollar and touched a high and a low of 64.17 and 64.34, respectively.

New Delhi: Maruti Suzuki zipped past Infosys and ONGC in market capitalisation (m-cap) as its stock rose by 3% on Friday, adding Rs6,563 crore to the value.

The stock gained 3% to end at Rs7,451 on the BSE. During the day, it went up by 3.25% to Rs7,469—its 52-week high. It was the top gainer on the BSE benchmark Sensex. On NSE, the stock moved up by 2.97% to close at Rs7,464.85.

Mumbai: Idea Cellular Ltd’s chairman and non-executive director Kumar Mangalam Birla took just Rs3.30 lakh remuneration for fiscal year 2017 after the company reported its first-ever annual loss. Last year, he took Rs13.15 crore.

The free offerings by Reliance Jio—owned by Mukesh Ambani which started operations in September 2016—has sparked stiff competition among Indian telecom majors which forced Bharti Airtel, Vodafone and Idea Cellular to launch cheaper plans. This has hit the revenue and profitability of telecom companies.

A day after BJP President Amit Shah made references to Mahatma Gandhi’s caste along with adding that Congress had never been a party based on principles, Congress hit out on Saturday saying the ruling party leader has “insulted” the freedom struggle and the “Father of the Nation.”

While speaking at an event in Chhattisgarh, Shah had said: “Congress kisi ek vichaar dhaara ke adhaar par, kisi ek siddhant ke adhaar par bani hui party hi nahi hai, woh azadi prapt karne ka ek special purpose vehicle hai, azadi prapt karne ka ek saadhan tha.

Muted coal demand and eroding profitability have forced Coal India to ‘production closure’ of 37 loss making underground mines in the current fiscal to save between Rs 800 crore to Rs 1000 crore annually. “An action plan was prepared by the subsidiaries in which 37 underground mines were envisaged to be closed for production in 2017-18. This exercise will save between Rs 800 crore to Rs 1000 crore,” a top CIL official told PTI. Coal India has identifed some 60 underground mines belonging to its four subsidiaries, Eastern Coalfields (ECL), Bharat Coking Coal (BCCL), South Eastern Coalfields (SECL) and Central Coalfields (CCL) for closure in phases.

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