The Central Board of Direct Taxes (CBDT) has signed two more unilateral advance pricing agreements (APAs) with Indian taxpayers as it looks to reduce litigation by providing certainty in transfer pricing. The two APAs signed earlier this month pertain to sectors like chip design or development of embedded software and information technology (software development). One of these agreements also have a ‘Rollback’ provision in them, a finance ministry statement said.

Shares of State-run Gail (India) Ltd fell over 6.6% today to Rs 365.30, their lowest intraday level since 14 February 2017, on the back of poor Q4 results announced yesterday. Gail (India) reported its results for the quarter ended March 31, 2017, on Monday. The company reported a 69% year-on-year (YoY) decline in its net profit for the fourth fiscal quarter of FY17 (Q4FY17), to Rs 260 crore from Rs 832 crore.

SBI did not disclose financials and asset quality for the subsidiaries, but we imply the performance from the consolidated financials . SBI’s stand-alone Gross NPA of 7.2% and consolidated Gross NPA of 9.1% implies a 17.5% Gross NPA for the associate banks from ~14.5% NPAs in Q3FY17.

The associate bank’s NPA performance implies a net slippage of Rs 137 billion in Q4FY17 which is 4.5% of loans, and this is after a recognition of ~10% of loans as NPAs in 9MFY17 leading to total net slippage of ~15% in FY17.

Reliance Jio has filed a complaint with the telecom ministry alleging that incumbents Bharti Airtel, Vodafone and Idea did not deposit requisite licence fee in March, which led to a potential loss of Rs 400 crore to the government.

The Mukesh Ambani-led firm alleged that Airtel, Vodafone India and Idea Cellular, in utter violation of licence rules "unilaterally, wilfully and intentionally paid the advance license fee for last quarter" of 2016-17 on the basis of estimated adjusted gross revenue (AGR), which was much lower than "the license stipulation to pay the license fee not less than the fee paid for the third quarter".

Targeting 500 million customers by 2020, digital payments firm Paytm on Tuesady launched its payments bank with 4% interest rate and cashbacks on deposits, zero fees on online transactions and no minimum balance requirement.

Backed by Chinese firm Alibaba and Japanese conglomerate SoftBank, the company has earmarked initial investment of Rs 400 crore to build its banking network over two years.

The benchmark BSE Sensex fell by 85 points while NSE Nifty slumped below the 9,400-mark in early trade on Tuesday due to profit booking by investors. The 30-share barometer declined by 85.17 points, or 0.28%, to 30,485.80 points.

Shares of healthcare, power, realty, PSU, consumer durables, oil&gas and metal were trading in the negative zone, with losses of up to 2.40%. The key BSE index had gained 136.18 points in the last two sessions.

British police said that at least 19 people were killed and 50 others injured in a blast at a music venue in the northern English city of Manchester, and said that they were treating it as a "terrorist incident".

"So far 19 people have been confirmed dead, with around 50 others injured. This is currently being treated as a terrorist incident until police know otherwise," Greater Manchester Police said in a tweet.

Shares of pharmaceutical companies were under pressure with as many as seven stocks from the BSE500 index such as Lupin, Aurobindo Pharma, Divi’s Laboratories, Glenmark Pharmaceuticals, Indoco Remedies, Strides Shasun and Wockhardt hit their respective 52-week lows on the BSE in intra-day trade.

Besides these seven stocks, Coal India, Inox Wind, KPIT Technologies, Majesco, Reliance Communications (RCom), TV Today Network and Videocon Industries, total 14 stocks from the index trading at their 52-week lows on BSE.

The All India Muslim Personal Law Board (AIMPLB) on Monday, filed an affidavit in the Supreme Court in the Triple Talaq matter.

In its affidavit, AIMPLB said that it would issue an advisory requesting individuals who perform the nikah (marriage) to follow the following steps.

China today said there is no change in its stance on admission of non-NPT states into the Nuclear Suppliers Group (NSG), marring India s chances of entering the 48-member elite club at its crucial meeting next month.

China's support is crucial for India as new membership in the NSG is guided by the consensus principle. "China's position on the non-NPT members participation in the NSG has not changed,"

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