From the beginning of the next financial year (April 1), failing to maintain a monthly average balance (MAB) in your State Bank of India (SBI) savings accounts will attract a charge.

SBI had suspended this charge in July 2012 to expand its customer base and generate low-cost deposits, as those in savings account earn interest rate of only 4 per cent. The bank said it is resuming the charge to partly cover costs for maintaining systems and operations of savings accounts. The charge will be calculated based on the gap between the MAB and the actual balance in the accounts.

US tech giant Microsoft will start shipping the "Mixed Reality" headset later this month in a bid to make Windows 10, the most complete platform across the broadest range of devices.

Mixed Reality (MR) is a combination of virtual and augmented reality to produce new environments and visualisations where physical and digital objects co-exist and interact in real time.

Mumbai: Shares of BSE Ltd, Asia’s oldest stock exchange, on Friday extended its losses for the seventh consecutive session. The stock corrected nearly 17% from its listing day.

In intraday, the stock touched a low of Rs 888.10 a share and fell as much as 3.2% on the NSE.

Mumbai: Shares of Apollo Hospitals Enterprises Ltd fell sharply on Friday after the company witnessed a series of block deals in which around 6.58 million shares or 4.7% stake of the company changed hands.

However, details of the buyers and sellers were not known, according to a Bloomberg report.

New Delhi: The Election Commission (EC) on Thursday issued show-cause notices to the Bharatiya Janata Party (BJP)-led government at the centre and the Mayawati-led Bahujan Samaj Party (BSP) over controversies relating to a sports felicitation event and cash deposits during the demonetisation drive, respectively.

An event organized by the ministry of home affairs (MHA) and ministry of development of north-eastern region to felicitate sportspersons from the region who participated in the Rio Olympics last year has come under the Election Commission’s scanner. The election watchdog has asked both ministries to explain why no prior approval was taken for holding the event.

Finally, on Wednesday, realty giant DLF Ltd announced that it has struck an exclusivity agreement with Singapore’s sovereign wealth fund GIC Pte to buy out 40% of the promoter’s stake in its rental subsidiary.

This much-awaited development has been the only hope for the company to extricate itself from a debt trap. However, the Street was not enthused and the stock plunged 8.1% and closed at Rs141 on Thursday.

Vijay Mallya, the embattled businessman who is in the UK, on Friday said faulty engines were one of the factors for the collapse of Kingfisher Airlines.

A group firm of Pratt & Whitney has been sued for supplying defective engines to Kingfisher Airlines, Mallya said amid aviation regulator DGCA ordering detailed inspection of P&W engines powering some Airbus 320 neo planes being operated in India.

IT industry body National Association of Software and Services Companies (Nasscom) is expecting a tentative growth rate of 8-10% for the financial year 2017-18. Further guidance for the industry is expected in the month of May post the fourth quarter results. Incidentally, Nasscom had deferred in providing a guidance for the next financial year due to uncertainties and slowdown in discretionary spending. The industry body has not made any forecast for fiscal 2018, citing political uncertainties in the US and Europe, which has slowed down decision-making in tech spending.

To arrest and reverse the sliding traffic and income from both freight and passenger segments, the Indian Railways on Thursday launched Business Plan 2017-18 with the focus mostly on the freight segment which contributes two-third of the carrier’s revenue. The plan to increase freight revenue — which fell from R1,05,791 crore in 2014-15 to R97,386 crore in 2015-16; a flat growth is estimated (RE) for 2016-17 — hinges on signing long-term tariff contracts, introducing double stack dwarf containers, and roll-on-roll-off facility for trucks, easing road congestion in the National Capital Region, among others.

State Bank of India (SBI) has reduced interest rates on term deposits with maturities of between 180 days and one year, and between 456 days and three years with effect from March 1. The country’s largest bank by assets will now pay 6.5% on deposits with maturities of between 180 days and less than one year, and 6.75% on those maturing between 456 days and less than three years. Earlier, SBI used to pay 6.75% on deposits maturing between 180 days and 210 days, 7% on those maturing between 211 days and less than a year, 6.95% on deposits maturing between 456 days and under two years and 6.85% on those maturing between two years and less than three years.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.