Indian banking is often in the news — sometimes as entertainment (around high-profile failed airline promoters), but mostly serious. The government’s recent NPA Resolution Amendment to the Banking Regulation Act is a serious development, which comes not a day too soon. NPAs now, at nearly Rs 9.6 lakh crore, account for 15 per cent of all bank loans and constitute a serious bottleneck to growth. However, is it kosher for RBI, as does the Central Bank (CB), to get operationally involved in the resolution of NPAs? And, is it enough?

Stock markets came off their peak and turned weak on Monday after two back-to-back sessions of gains as the benchmark Sensex cracked below 31,000-mark after investors indulged in profit-booking. Besides, muted earnings from some companies weighed on sentiment.

The 30-share index slipped below the 31,000-mark by falling 158.31 points, or 0.51%, to 30,869.90 as profit-booking set in recent gainers. The gauge had gained 726.57 points and closed at life high of 31,028.21 after scaling an intra-day record high of 31,074.07 on Friday.

The death toll from devastating floods in Sri Lanka on Sunday rose to 151 as rescuers pulled out more bodies from mudslides triggered by the country's worst torrential rains since 2003 that displaced nearly half a million people.

Sri Lanka has sought international assistance. India, the first country to respond, dispatched three Navy ships with emergency supplies to help Sri Lanka. The first Indian ship reached here yesterday.

Shares of Reliance Communications (RCom) fell as much as 15.11% to its all time low of Rs 21.95 on poor March-quarter earnings and worries over debt repayment.

Reliance Communications on Saturday reported loss of Rs948 crore for the fourth quarter, hurt by intense price war unleashed by newcomer Jio. It had registered net profit of Rs79 crore in the corresponding period of the previous year.

ITC hit a new high of Rs 320, up 3.6% on BSE in intra-day trade, extending its Friday’s 3% gain, after reported January-March quarter (Q4FY17) earnings.

At 10:41 am; the stock was trading 3% higher at Rs 318 on BSE, as compared to a marginal 0.03% rise in the S&P BSE Sensex.

The Indian car market has approximately 100 models, manufactured by about 15 companies. But only one-tenth of these have sales worth Rs 6,500 crore ($1 billion) or more as they clock large volumes and have been more successful.

The list of top 10 vehicles, value-wise, is dominated by the top two players in the market — Maruti Suzuki and Hyundai. However, Toyota, the third player on this list, scores and stands ahead of the two companies with its Innova Crysta.

An indigenous rocket as heavy as 200 full-grown Asian elephants could well be the one taking "Indians into space from Indian soil" as the country inches closer to joining the big boy's space club.

Standing tall on the rocket port at Sriharikota in Andhra Pradesh is the country's latest rocket called the Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk- III), the heaviest rocket ever made by India that is capable of carrying the heaviest satellites till now.

Commercial vehicle major Ashok Leyland (ALL) said that it has got three-pronged approach for increasing electric buses market in India, which includes European technology and battery swapping technology.

ALL's Managing Director Vinod K Dasari said the company is bullish on the electric vehicle segment. He noted that the government is keen to buy around 20,000-25,000 electric vehicles. Besides Tata Motors, competition would be from Chinese players like BYD and European companies.

Undeterred by its stand-off with the Odisha government over the award of fiscal incentives to its oil refinery project at Paradip, the Indian Oil Corporation (IOC) has asked for an additional 2,700 acres.

The oil marketing company said it needed the land for expanding its petrochemical complex, where new units are supposed to come up. IOC is also looking to upgrade the refinery to make it compliant with BS-VI emission norms.

Congress vice-president Rahul Gandhi on Saturday said there was no place for Dalits and the poor in today’s India. “Dalits are being oppressed and it is happening across the country and not just in UP,” he said.

Mr. Gandhi was speaking from a dhaba at the Haryana-UP border, where some of the victims were brought with the help of local Congress leaders. Mr. Gandhi was denied permission to visit violence-hit Saharanpur in western Uttar Pradesh, as well as the district hospital where victims are being treated.

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