Banks including HDFC Bank, ICICI Bank and Axis Bank today began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

The charges would apply to savings as well as salary accounts effective from today, leading private sector player HDFC Bank said in a circular.

State Bank of India will relocate 1,500-1,600 branches after April as part of a consolidation exercise.

Five associate banks — State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore — will merge with parent State Bank of India on April 1.

Coal India would again be generating cash for the central government, its principal shareholder, via the capital buyback guidelines issued last year.

In October last year, the monolith had extinguished 1.72 per cent of its shares after a buyback, estimated to have generated cash of Rs 2,500 crore for the Centre. The total cash given to the shareholders was Rs 3,650 crore. Now, to again raise money for its shareholders via interim dividend, Coal India is banking on its subsidiaries. “The buyback process is happening as per the Dipam (department of investment and public asset management) guidelines,” a Coal India executive told this newspaper.

In one of the biggest real estate deals, leading developer DLF has decided to sell 40 per cent of the stake in the company’s rental arm DCCDL for an estimated Rs 12,500 crore-Rs 13,000 crore to an affiliate of Singapore-based private equity firm GIC. While around 25 companies were in the fray when talks began to find a prospective buyer in April 2016, the race had eventually narrowed down between GIC and American private equity firm Blackstone.

Auto major Mahindra & Mahindra today reported 2.92 per cent decline in total sales at 42,714 units in February. The company had sold 44,002 units in the same month last year, M&M statement said. In the domestic market, sales were down 2.26 per cent at 40,414 units last month compared to 41,348 units in February 2016, it added. Exports were down 13.33 per cent at 2,300 units in February against 2,654 units in the same month last year.

India must make the most from the diverse applications under the upcoming 5G technology to solve some of its developmental problems in areas such as transport and agriculture, TRAI chairman RS Sharma has said. “5G is an exciting area where application domains are going to be hugely diverse. It’s a fantastic technology. India, as a country, must leverage it as soon as possible so as to solve some of our developmental problems,” Sharma told PTI on the sidelines of Mobile World Congress here.

Ford India on Wednesday reported a 38.83 per cent increase in total sales at 24,026 units in February this year.

The company had sold 17,306 vehicles in the corresponding month last year, Ford India said in a statement.

Domestic sales rose by 52 per cent to 8,338 units last month as against 5,483 units in the same period a year ago, it added.

New Delhi, Mar 1 () State-run power giant NTPC has kicked off the process to expand operations at its Pakri Barwadih coal mine in Jharkhand to achieve annual mining capacity of 18 million tonnes.

Now, the company is scouting for consultant to prepare a feasibility report for North West Quarry of its Pakri Barwadih coal mine, as per its tender notice.

If somehow you have really great Facebook friends who share interesting videos, the new Facebook Video app on the Apple TV is for you and it’s available now. Facebook’s VP of Partnerships Dan Rose already announced that a Facebook app for your TV screen was on its way. But it looks like it’s coming sooner than expected.

Facebook has been trying hard to convince people that the social network can also become one of the leading platforms for online videos. And if the company wants to fight against YouTube, having an app on your TV seems like an important step.

Hong Kong/Mumbai: India’s weaker economic growth will lead to more soured loans, even after an audit of lenders’ books pushed stressed assets in the South Asian nation to the highest among major economies, according to the head of the country’s largest bank.

“There could be a few more accounts that could start showing stress mainly because the kind of growth in demand that we have been talking about still has not really come back,” State Bank of India chairman Arundhati Bhattacharya said in an interview with Bloomberg Television in Hong Kong on Tuesday.

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