Public sector lender Punjab National Bank (PNB) plans to take at least 250 defaulters to the National Company Law Tribunal (NCLT), as part of efforts to recovering dues promptly.

The bank has asked each bank circle to identify five defaulters where it can proceed with action at the NCLT to ensure they repay their dues. PNB has 76 circles across the country. This is one of the tools the bank is looking at to bring delinquent borrowers to the table.

The Food Safety and Standards Authority of India (FSSAI) is drawing up guidelines to regulate organic food.

The regulator will put up draft guidelines for organic packaged food and commodities in the public domain for suggestions next month.

New Delhi: Online retail biggies such as Flipkart, Snapdeal and Amazon have joined hands to raise concerns regarding tax collection at source (TCS) norms under the draft model GST law. Under TCS, e-commerce marketplaces will have to deduct a portion of the amount payable to sellers on their platform and remit it to the government.

The companies said this would result in a capital lock-down of about Rs400 crore per annum and also discourage merchants from selling online. The draft model GST law is due to be finalised at the end of this month.

Idea Cellular on Thursday said it has enabled a USSD-based platform for shopkeepers and customers to conduct digital transactions using Idea Money service.

USSD is mobile short code that enables financial and banking transactions even on feature phones.

North Korea could own up to 45 nuclear arms by 2020 owing to an anticipated rise in its reserves of plutonium and enriched uranium and its growing pace of arms development, a South Korean expert said on Thursday.

Pyongyang is thought to currently possess around 280 kg of highly enriched uranium, said Lee Sang-Hyun, vice-president at the research planning division of the Sejong Institute, one of the country's most influential think tanks, Efe news reported.

Mumbai: Acting on aviation regulator DGCA’s orders, Air India has taken off flying duties its operations department head for skipping the mandatory pre-flight medical test. The orders to remove Air India Executive Director (Operations) Capt A. K. Kathpalia from flying duties were issued by the DGCA flight safety department on Wednesday, they said.

“In compliance with the DGCA orders, Capt Kathpalia will not be assigned any flight to operate any more,” airline sources said.

Mumbai: Details emerging of early talks between Vodafone India Ltd and Idea Cellular Ltd indicate that Aditya Birla Group chairman Kumar Mangalam Birla could be chairman of the merged entity.

Two people familiar with the talks between the two said the merged entity would likely have 12 directors on its board—three from either side and six independent ones. Neither wished to be identified because the talks are at a very preliminary stage.

Infosys shares were in green but were trailing firm markets after various news reports suggested that some prominent investors have stepped in to try and bridge differences between the company founders and its CEO.

Infosys shares were up 0.38% at Rs 940. S&P BSE IT index was trading stronger, up 0.75% at 9,779.89 points. BSE Sensex was up 0.54% at 28.442.58 points, while NSE Nifty was up 0.5% at 8,812.8 points.

NEW DELHI: Continuing with its efforts to reclaim lost ground in the Indian passenger vehicles market, Tata Motors will soon launch compact sedan Tigor.

The company today announced that the Kite 5 concept, which was showcased at Auto Expo 2016, will be christened Tata Tigor.

Mumbai: Kotak Mahindra and Axis Bank,have strongly denied rumours that the biggest consolidation in banking space is in the works. For the past few weeks, the stock market has been abuzz with prospects of a merger between the two private banks.

Most people TOI spoke to said that there are strong reasons for such a merger, which could be worth around Rs 2.5 lakh crore ($37 billion) — making it the second most valuable Indian bank after HDFC Bank.

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