India’s stock futures and currency forwards jumped after Prime Minister Narendra Modi’s bigger-than-expected win in state elections increased expectations for a continuation of his reform agenda.

Modi’s Bharatiya Janata Party won 312 seats in the 403-member assembly of Uttar Pradesh, according to the Election Commission of India, up from 47 in 2012. The results of the race in India’s largest state were seen as a litmus test of Modi’s popularity and reforms, including opening up the country to more foreign investment and seeking to introduce a goods and services tax, ahead of general elections in 2019.

MUMBAI: Idea Cellular subscribers are set to get lower bills after the company, India’s No. 3 telecom operator, said it won’t be charging for incoming calls on domestic roaming from April 1, a bid to retain customers amid a price war launched by Reliance Jio Infocomm.

“Effective April 1, 2017, Idea’s 200 million customers will enjoy free incoming calls while roaming on company’s 2G, 3G and 4G network across 400,000 towns and villages in the country. Idea customers will be able to make outgoing calls, SMS freely at affordable rates while roaming anywhere in India,” the company said in a statement on Sunday.

To align the periodic price band mechanism with the new graded surveillance measures (GSM) framework, BSE has decided to do away with weekly and monthly price limits for securities listed on its platform.

The stock exchange will phase out the weekly price bands from March 20 and the monthly price bands from April 3 for companies that attract such periodic price limits.

ICICI Bank topped the list of banks that witnessed most number of frauds during April-December period of 2016 with state-owned SBI taking the second spot, RBI data said.

During the first nine months of the current fiscal, as many as 455 fraud cases involving Rs 1 lakh and above were detected in ICICI Bank, closely followed by SBI (429), Standard Chartered (244) and HDFC Bank (237).

The country’s largest lender, State Bank of India, has formed a subsidiary to manage group’s real estate and premises. SBI Infra Management Solutions Pvt Ltd (SBIIMS) will deal with functions such as project management, facility, transaction management, advisory services and implementation of policies.

At present, the real estate management, a non-core activity function, is being looked after by 1,100 officials of the bank including 200 technical officials. It made sense to create separate entity employing much lesser number of employees nearing about 400 to handle activity more effectively and efficiently, said SBI chairman Arundhati Bhattacharya in a statement.

The BJP on Saturday took winning leads in both Uttar Pradesh and Uttarakhand while the Congress raced ahead of the AAP in Punjab as officials counted votes polled in assembly elections.

In Goa, the Congress was leading in eight constituencies to the BJP's three.

The Central Board of Direct Taxes is considering making PAN mandatory as a requirement for allotting Tax Deduction Account Numbers (TAN) to companies that deduct tax at source, according to a report by the Comptroller and Auditor General (CAG).

The Department is considering tightening the KYC norms for TAN issuance in light of the CAG’s discovery that the procedure for allotting TAN does not require any documents as proof of identity or address, not even a PAN. More than one lakh notices amounting to a total demand of ₹4,180 crore were not addressed due to inadequate information about the assessee.

CHENNAI: The Reserve Bank of India (RBI) on Thursday said non-banking finance companies (NBFCs) cannot issue more than Rs 20,000 in cash against gold loans, sending shares of Manappuram Finance and Muthoot Finance down 4% on the bourses. The central bank's move is being seeing as part of its “go digital“ drive post-demonetisation. “The requirements under the Income Tax Act, 1961, as amended from time to time, would be applicable to all NBFCs with immediate effect.Currently, the relevant threshold under the Income Tax Act, 1961 is Rs 20,000,“ the central bank said in a statement.

MUMBAI: Reliance Communications, the telecom unit of Anil Ambani's Reliance Group, launched a special tariff offer on Friday, further intensifying a price war that the industry is caught into.

The 'Joy of Holi' plans offer RCom's new 4G customers 1GB of data for Rs 49 and 3GB for Rs 149 for 28 days.

'Iron Lady' of Manipur and PRAJA (Peoples' Resurgence and Justice Alliance) chief, Irom Chanu Sharmila on Saturday lost from Thoubal constituency, where she was contesting against incumbent Chief Minister Okram Ibobi Singh.

However, Sharmila earlier in the day said that in case of her defeat she will try again in the 2019 general elections. "I do not feel much affected by the result. It depends upon the people's mindset.

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