New Delhi: The Supreme Court on Wednesday revived the 25-year-old trial in the Ayodhya-Babri Masjid dispute by allowing fresh charges of criminal conspiracy against Bharatiya Janata Party (BJP) leaders L.K. Advani, Murali Manohar Joshi, Uma Bharti and 13 others.

A bench comprising justices P.C. Ghose and Rohinton Nariman also directed transfer of cases from a court in Rae Bareilly to a special court in Lucknow that is also hearing certain related cases on the 1992 Babri Masjid demolition issue.

Mumbai: Weak state-run banks like Indian Overseas Bank, IDBI Bank, Bank of India and Union Bank of India are in for regulatory action if the tightened prompt corrective action (PCA) is implemented properly, warns S&P in a report.

“If the norms were applied to reported numbers for December 2016, among the banks rated by us, Indian Overseas Bank is in risk threshold 3; IDBI Bank is in risk threshold 2; and Bank of India and Union Bank of India are likely be in risk threshold 1;” S&P credit analyst Geeta Chugh said on Tuesday.

Tata Consultancy Services shares were trading firm amid sluggish key markets after India’s largest information technology services company’s guidance for the current fiscal 2017-18 expressed optimism for the year ahead, with the company aiming for an ambitious operating margin of 26-28%.

TCS shares were trading up 0.53% at Rs 2,321 on BSE, after rising to the day’s high of Rs 2,348.45. The benchmark BSE Sensex was down 0.24% at 29249.6 points, while the broader NSE Nifty was down 0.21% at 9,086.4 points.

Facebook CEO Mark Zuckerberg during the two-day annual F8 developer conference launched a platform for developers to encourage augmented reality (AR) camera effects. Zuckerberg stressed that AR-powered camera effects would change the way people interact with friends on the social network.

According to a report in Time on Tuesday, AR-powered camera effects will be launching in a closed beta starting immediately. Dozens of AR-powered effects, like masks and frames, will be available within the Facebook app’s camera.

An Air India flight with around 300 passengers on-board was grounded here on Wednesday before its departure for New York due to hydraulic failure in one of the aircraft engines.

All the passengers have been accommodated in a nearby hotel and the flight has been rescheduled for 5 PM today, an Air India spokesperson said.

Beginning May 14, fuel outlets in eight states will be shut every Sunday following Prime Minister Narendra Modi's call to conserve oil, a fuel pump owners' body said in Chennai on Tuesday.

"We had planned to shut our outlets on Sundays a few years back. But oil marketing companies (OMCs) had then requested us to reconsider our decision. Now we have decided to shut the outlets on Sundays," said Suresh Kumar, an executive committee member of the consortium of Indian petroleum dealers.

Ahead of listing, public sector general insurance companies have reduced their stakes in one of their most valued blue-chip company, ITC Ltd.

New India Assurance’s shareholding in ITC fell from 1.75 per cent in the December quarter to 1.70 per cent in the March quarter of 2016-17, according to the BSE. Oriental Insurance’s stake fell from 1.46 per cent to 1.40 per cent. The stake of General Insurance Corporation of India (GIC) in ITC came down from 1.77 per cent to 1.76 per cent between the third and the fourth quarters of the last financial year.

New Delhi: The finance ministry is scouting for merchant bankers to manage the initial public offer (IPO) of two rail engineering firms RITES and Rail Vikas Nigam Ltd (RVNL). They are among the 5 railway PSUs cleared for listing by the Union Cabinet last week in which the government holds 100% stake.

IRCON, Indian Railway Finance Corp (IRFC) and Indian Railway Catering and Tourism Corporation Ltd (IRCTC) are the other three firms on the list. For these, as many as nine merchant bankers, including HSBC Securities, Axis Capital and ICICI Securities, will make presentations before the DIPAM officials next week.

Public sector Bank of Baroda has inked a pact with EM3 Agri Services to give loan to farmers and rural entrepreneurs for purchase of farm equipment and related machinery. BoB said the pact has been signed keeping in mind the government focus on doubling farmers’ incomes by 2022.

The loan service will help create an ecosystem to provide end to end solutions to farmers, BoB said in a statement.

The Reserve Bank has opened a new ombudsman office in Jammu as part of its efforts to expand banking grievances complaint cells across the country. Earlier, the banking services related complaints from entire Jammu & Kashmir used to fall under the jurisdiction of New Delhi-I banking ombudsman office.

There are two banking ombudsman offices in New Delhi. There has been a significant increase in banking network during the recent past and the New Delhi office covers a large jurisdiction, RBI said.

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