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.

Amway India has partnered with Turnstone Global, earlier known as National Association for the Blind, to set up a braille library for the visually impaired students at a school here. The library, opened at Bhima Bhoi School for the Blind here today, will offer braille versions of a variety of books, journals and CDs ranging from academic books, fiction, self-help, general knowledge to benefit of over 85 visually impaired students who have limited access to books. The library is equipped with computers that will enable students to access more than 30 CDs.

India stock bulls, beware. A stronger currency could spoil the party. A further advance in the rupee to 62 per dollar in the year to March 2018 could shave four percent off the NSE Nifty 50 Index’s earnings growth, according to Edelweiss Securities Ltd.

Nifty companies are vulnerable to foreign currency swings because nearly half the index’s profits are linked to the global economy through exports, overseas subsidiaries and commodity prices, the brokerage said in a note dated April 17.

Hindustan Petroleum Corporation Ltd (HPCL) and Government of Rajasthan have signed a revised memorandum of understanding (MOU) for HPCL’s proposed 9 million metric tonnes per annum (MMTPA) grass root refinery in the state, paving the way for the resumption of project, which was first announced four years ago.

In March 2013, the then Congress-led state government had entered into an MoU with HPCL for establishing the complex in Barmer district at an estimated cost of over Rs 37,230 crores ($6 billion). After this, a JV agreement was signed in July 2013 between HPCL and the state government.

Businessman Vijay Mallya has reportedly been arrested in London by Scotland Yard just weeks after UK set in motion the process of extradition of the industrialist who has been declared a proclaimed offender.

Mallya fled to UK in March 2016 after being pursued in courts by banks seeking to recover about Rs 9,000 crore owed by his Kingfisher Airline.

New Delhi: Nissan Motor Co. plans to work with “government bodies” and “private sector firms” to see if there is a market for its electric car Leaf in India, a top executive at the Indian unit of the Japanese auto maker said.

“We will start a pilot project involving the Nissan Leaf this year, which will help us in assessing the viability of electric vehicles (EV),” Guillaume Sicard, president, Nissan India operations, added.

Washington: US President Donald Trump will take aim at information technology outsourcing companies Tuesday when he orders a review of H1B visa programmes to favour more skilled and highly paid applicants.

An administration official who briefed reporters in advance named Tata Consultancy Services Ltd, Cognizant Technology Solutions Corp. and Mphasis Corp.

Bengaluru: Infosys Ltd, despite a relatively good performance over the past two years, is battling perceptions of under-performance because of its inability to keep pace with its ambitious target of more than doubling its revenue to $20 billion by March 2021.

This target appears to have done more harm than good: analysts continue to rate the company using it as a metric; and people in the know attribute the departure of at least a few senior executives over the past few years to it. Now, an analyst at a foreign brokerage has suggested that the company is better off without the target.

The share of non-fare revenue (NFR) in total income of Indian Railways rose to 6.17% in FY17 compared with 3.62% in the previous year. In absolute terms, NFR jumped around 70% in the last fiscal to `10,181 crore on the back of a policy thrust to this segment.

The Indian Railways’ total income for 2016-17 stood at `1,65,068 crore against a revised target of `1,72,000 crore.

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