The BCCI's decision to form a committee for implementing the Lodha Panel reforms was specifically done to foil former president N Srinivasan's attempts to maintain 'status quo' in the board after he rejected the adoption of a resolution at the SGM.

Apart from Srinivasan, it was learnt that another former BCCI president who is currently out of favour, was also frantically calling state units and advising them against forming a committee for implementing the Supreme Court- appointed Lodha panel reforms.

As it looks to take on Reliance Jio, country's top mobile operator Bharti Airtel, which is currently undergoing trials for voice over LTE (VoLTE) in some cities including Mumbai, plans to launch commercial services in the next quarter.

Although Airtel has not shared an exact timeline but people aware of the plans said the Sunil Bharti Mittal-owned firm is likely to launch VoLTE services in next quarter. Also, Airtel's 4G footprint will cover all the towns and cities by end of 2017 financial year.

Reliance Industries Ltd (RIL) plans to raise Rs 25,000 crore through privately placed debentures as the energy-to-retail conglomerate seeks to replace existing high-cost borrowings as well as build a war chest for its aggressive expansion strategy in the telecom space.

The Mukesh Ambani-led firm sought shareholders' nod to issue redeemable non-convertible debentures (NCDs) on private placement.

WASHINGTON: On the eve of Prime Minister Narendra Modi's US visit, the Trump administration has dismissed reports that it has been ignoring India, saying President Trump realises that the country has been a "force for good" in the world and ties with it were important.

"I think that it would be wrong to say that this administration has been ignoring or not focused on India," a senior administration official told reporters ahead of the two-day Modi visit from June 25.

Mumbai: Oil prices are at a seven-month low of $45.17, having fallen 20.5% since January 2017 following rising crude production in the US, Libya and Nigeria.

Although this is not a cause for worry in the short term for Indian oil marketing companies (OMCs) Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL), falling crude prices over an extended period could hurt.

India’s leading brand of kitchen and domestic appliances Bajaj Electricals has announced its partnership with The International Federation of Sport Climbing (IFSC) as a lead sponsor. The tournament is scheduled to be held over a three-day period at the CIDCO Exhibition Centre, Navi Mumbai on the 24th & 25th June, 2017. Over 150 athletes from across the globe will participate at the World Cup including the top talent from India. As a host nation, India’s best climbers will have a chance to compete alongside the world’s best on home turf. The Italy based, IFSC has 86 member federations across 5 continents.

MUMBAI: Banks for the first time have been made accountable for misselling third-party products like insurance policies or mutual fund schemes. Customers can also file complaints against banks for problems with mobile and digital banking services.

The RBI on Friday said that it has widened the scope of its Banking Ombudsman Scheme 2006 to include deficiencies arising out of sale of third-party investment products by lenders. Under the amended scheme, a customer would also be able to lodge a complaint against banks for non-adherence to the RBI instructions with regard to mobile or electronic banking services.

Benchmark Sensex gave up early gains to end 153 points lower at 31,138.21 on Friday while the Nifty cracked below the 9,600-mark as investors took profit ahead of a long weekend.

On a weekly basis, the Sensex gained 81.81 points, or 0.26%, while the broader Nifty shed 13.10 points, or 0.13%. Markets will remain closed on Monday on account of 'Id-ul-Fitr' (Ramzan Id).

After a gap of 2-months, Reliance Industries Ltd (RIL) regained the status of the country's most valued firm on Friday, overtaking Tata Group's TCS in terms of market valuation.

At close of trade, RIL commanded a market capitalisation (m-cap) of Rs 4,66,599.69 crore, which was Rs 1,450.62 crore more than TCS' Rs 4,65,149.07 crore valuation.

After appointing an administrator to oversee Sahara India Life Insurance’s business, the Insurance Regulatory and Development Authority of India (Irdai) through a circular has directed the life insurance company to stop underwriting new business with immediate effect.

Under Section 52 (B) 2 of the Insurance Act 1938, the regulator has asked the company not to procure / collect proposal deposits / underwrite new business with immediate effect.

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