New Delhi: To tackle growing congestion woes and lack of parking space across the country, the central government is looking to make it compulsory for car buyers to obtain an adequate parking space certificate.

Addressing a press conference in the national capital, urban development minister M. Venkaiah Naidu said that in the future it would be compulsory for cars to provide an adequate parking space certificate.

Mumbai: Breaking a seven-day losing pattern, the Sensex on Friday reclaimed the key 26,000-mark by recovering 61 points, helped by gains in pharma, auto and capital goods.

For the week, the Sensex lost 448.86 points, or 1.69%, while the broader NSE Nifty dropped 153.70 points, or 1.88%. This is their biggest weekly in five, which is since the week ended 18 November. Domestic investors backed up and covering-up of short positions gave equities a push too.

Reliance Communications Ltd (RCom) said it has signed a binding agreement with Brookfield Infrastructure Group to sell its tower assets.

It will receive an upfront payment of Rs11,000 crore, besides ‘B’ class non-voting shares in the tower company.

MUMBAI: ICICI Bank has launched a mobile application for merchants that allows consolidation of all modes of payments, including digital wallets, Unified Payments Interface (UPI), QR code, and credit & debit cards. The app, eazypay , which is designed for business, allows multiple users to connect to the same account. This makes it possible to be used for cash-on-delivery payments.

NEW DELHI: The country's largest car maker Maruti SuzukiBSE 2.14 % will invest an added Rs 2000 crore at its state-of-the-art research and development centre in Rohtak, Haryana over the next three years.

C V Raman, executive director (engineering), Maruti Suzuki IndiaBSE 2.14 % Limited (MSIL), said, "We have already set up test tracks at Rohtak. Majority of the testing for the Brezza was done in India. We are going to invest another Rs 2000 crore to augment capability further at Rohtak by 2019." This would take the company's total investment at Rohtak to Rs 3800 crore.

Confirming that it has a robust system of regularly and proactively filing necessary reports with the Financial Intelligence Unit (FIU) of the Government of India, Kotak Mahindra Bank on Friday denied that they were operating any fake accounts.

Rohit Rao, the bank's spokesman, said in a statement, "The bank denies that there were any fake accounts. The bank is extending full cooperation to the investigating authorities."

The National Stock Exchange (NSE) will introduce new interest rate futures (IRF) contracts from December 30 on six-year government bonds maturing in 2022.

The IRF contract is based on 6.84% central government security maturing on December 19, 2022, will be made available for trading from December 30, this year, NSE said in a circular. An IRF contract is an agreement to buy or sell a debt instrument at a specified future date at a pre-determined price.

Software major Wipro has agreed to pay a civil money penalty worth $5 million to the US Securities and Exchange Commission (SEC) to resolve a six-year-old investigation on account of embezzlement of funds by an employee.

In a filing to the BSE, the company said while agreeing to a settlement it neither admits nor denies the allegations made by SEC that Wipro violated certain provisions of the Securities Exchange Act of 1934.

Information technology major Infosys is offering paid internships to campus hires before taking them on the payrolls in a move that that will affect new jobs across the sector. Already, hiring by technology companies is already at a 10-year low.

The Indian technology services sector is facing its worst growth in nearly a decade as clients reduce budgets on traditional outsourcing work, which is not being offset by growth in newer areas such as digital and cloud. In addition, routine maintenance work of customer applications or IT infrastructure, where freshers are normally deployed, have been taken over by automation or robots.

New Delhi: The Central Board of Direct Taxes (CBDT) on Wednesday ruled out ring-fencing large foreign portfolio investors (FPIs) and offshore funds from tax liability arising out of sale of assets of a foreign company which has substantial assets based in India.

Large FPIs and offshore funds had approached the finance ministry for a special carve-out since they don’t have a managerial role in such companies.

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