A commonly-agreed interoperable charge on micro ATM transactions, which had been a bone of contention between big banks and their smaller rivals, could be close to being firmed up.

These charges, which are mostly agreeable to the bigger banks, were decided after almost a month-long debate by the Information Technology ministry , National Payments Corporation of India and banks represented by the Indian Banks' Association (IBA).

NEW DELHI: State-owned Indian Oil Corp (IOC) has received green nod for upgradation of its Bongaigaon refinery for production of BS-VI grade fuels in Assam at a cost of Rs 4,185 crore.

The company wants to upgrade its Bongaigaon Refinery (BGR) as the government aims to implement BS-VI fuel in the entire country from April 2020 to curb pollution. Oil firms will have to be prepared to retail BS VI-compliant fuel by then.

The Reserve Bank of India (RBI) on Wednesday imposed monetary penalty on the Hongkong and Shanghai Banking Corporation Ltd. (HSBC) and the Kotak Mahindra Bank for violation of instructions on reporting requirements of Foreign Exchange Management Act 1999 (FEMA 1999).

The central bank penalised The Hong Kong and Shanghai Banking Corporation Ltd. for Rs. 70,000 and the Kotak Mahindra Bank for Rs. 10,000 in exercise of powers vested in the RBI.

Leading stock exchange BSE started its two-day mock trading session for infrastructure investment trusts (InvITs), ahead of next month's IPO by first such trust.

The exchange has developed the facility on its web-based platform - IBBS (Internet-based book building software) - to accumulate the bids from the applicants for InvITs.

The Centre has cautioned states against disclosing Aadhaar data and other personal details of individuals on their official websites, warning such actions can attract jail term of three years.

The Union IT Ministry has also asked the states to review website content of various departments and take "precautions" to ensure that personal data of individuals, including Aadhaar numbers or bank account details, do not appear on portals.

The free schemes and recharge options that Reliance Jio is offering to its customers is likely to continue for the next 12-18 months, which means other telecom services providers like Airtel, Vodafone and BSNL will have to step up efforts to counter Jio's strategy.

Jio's tactic would lead to pressure on the average revenue per user (ARPU) of incumbent operators, US bank Morgan Stanley said in a report. It added that ARPU for Bharti Airtel, Idea Cellular and Vodafone India has been effectively capped at about Rs 300 due to Jio’s current offers, a report published in The Economic Times said.

Backed by revenue contribution from the Appirio (US-based) buyout, Wipro managed to deliver in-line constant currency revenue growth of 1.7 per cent on a sequential basis for the March quarter (Q4). Healthy growth in key verticals of finance solutions, manufacturing and technology and consumer businesses fuelled revenues of the company in Q4. Among other positives is operating profit margin, which at 18.3 per cent came in higher than Street expectations of 17-17.7 per cent. While the number was stable on a sequential basis, it was aided by higher employee utilisations as well as healthy revenue growth.

Mumbai Indians captain Rohit Sharma has been fined 50 per cent of his match fee for showing dissent at an umpire's decision during their Indian Premier League (IPL) encounter against Rising Pune Supergiant (RPS) in Mumbai.

The incident happened at the Wankhede Stadium last night when Mumbai needed 17 in the last over bowled by Jaydev Unadkat while chasing 161 for win.

State-run BHEL today said its largest power project order in the international market, valued at Rs 10,000 crore, in Bangladesh has taken off. “Bharat Heavy Electricals Ltd (BHEL)’s largest ever export order, valued at Rs 10,000 crore, for setting up 1,320 MW (2×660 MW) Maitree Super Thermal Power Project in Bangladesh has taken off, following the issuance of the ‘Notice To Proceed’ by the developer,” the company said in a BSE filing.

Despite muted demand from consumers, downgrading of mines and challenges from the renewable energy sector, the sales outlook of Coal India, the country’s largest miner, for 2017-18 looks positive with an expected growth of around 4-6 per cent, analysts and stakeholders say. They also hold the miner, now contributing 84 per cent of the country’s coal production, is better placed to meet the summer demand that is likely to pick up along with power demand. “Coal India ended the last financial year with around year-on-year 1.6 per cent growth in sales, but in February and March, this was around 5-6 percent.

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