MUMBAI: The country's largest lender SBI will take the lead among state-run lenders to launch branch less banking. The latest launch from the lender - SBI Digi Bank will have a financial superstore, a market place and end to end digitisation for all products and services.

SBI will soon rub shoulders with the likes of Europe's M-Bank and Canada's Tangerine Bank as it prepares to launch its own version of Digital only bank in the next 3-6 months.

The Supreme Court on Friday restrained transfer of 2G licences from Malaysia's Maxis which was originally allotted to Aircel to any other telecom company. A bench headed by Chief Justice J S Khehar also proposed to restrain earning of any revenue by using the 2G spectrum licences which were originally granted to Aircel in 2006.

India appears to be much better placed with improved macro-economic fundamentals, as measures to eliminate shadow economy and tax evasion are expected to have positive impact on GDP, the all-powerful FSDC headed by Finance Minister Arun Jaitley said today.

The Council, at its 16th meeting, reviewed the major issues and challenges facing the economy. “World economy is quite fragile, yet India is much better placed today due to improvement in its macro-economic fundamentals,” Jaitley said.

Calcutta, Jan. 4: PSU Coal India is likely to stick to its production target this fiscal in the face of stagnating production and poor offtake.

Union coal and power minister Piyush Goyal said while his ministry was closely monitoring the demand-supply situation, targets are expected to remain firm.

State Bank of India (SBI) plans to remove transaction charges on point-of-sale (PoS) terminals for merchants who have an annual turnover less than Rs20 lakh, in a bid to boost cashless payments.

“We are looking at removing MDR (merchant discount rate) for merchants who have a turnover of Rs20 lakh and below on our own,” said Arundhati Bhattacharya, chairman of India’s largest lender, on Monday.

After a brief lull, hostilities between Bajaj Auto and the company’s labour union have resumed. The Bajaj Auto union, Vishwa Kalyan Kamagar Sanghatana (VKS), on Wednesday said it will go on a hunger strike on January 7 and 8. Dilip Pawar, president of the union said eight workers who had been removed should be reinstated.

According to Pawar, the management had deliberately transferred active union members and given false charge sheets and show cause letters to the workers.

Once a popular investment tool with foreign investors, participatory notes (P-Notes) apppear to be losing much of their sheen following the continuous tightening of rules by the regulator Securities and Exchange Board of India (Sebi). The product has become less attractive, market players say, because the new rules have resulted in costs going up.

Investments in Indian capital markets via P-notes declined to R1.79 lakh crore in November 2016, the lowest in three years. Data from SEBI revealed that in November 2007, the share of P-notes accounted about 45% of the total foreign portfolio investments — across debt, equity and derivatives. By end 2016 this amount had fallen to single digits at 7.5%.

Air India is offering tickets at the price of Rajdhani! Yes, the state-run airline has come up with yet another offer that compares fares with that of Rajdhani AC-2nd class travel. This time the advantage is that you can book your tickets 20 days in advance, as opposed to the 4-hour window announced by Air India last time. The ‘Republic Day’ special offer of Air India starts from January 6 and will go on for a three-month period. You can now travel from various cities (see list below) at fares ranging from Rs 1080 to Rs 4730.

Benchmark indices continued to gain in the after-noon trade tracking global markets cues on upbeat economic data and rise in oil prices as investors were optimistic ahead of corporate earnings and Union Budget 2017.

Sensex hit its highest in nearly two months, while the broader NSE Nifty hit a near one-month high in today’s session led by gains in metal, oil & gas, banking and auto sectors.

Tata Motors was up 3% to Rs 503 on the BSE in intra-day trade after Jaguar Land Rover (JLR) reported a strong 30% jump in US sales at 12,573 units in December 2016 against 9,638 units a year earlier.

“Jaguar sales were 4,294 units, a 259% increase from 1,197 units in December 2015; Land Rover sales reached 8,279 units, a 2% decrease from 8,441 units in December 2015. Jaguar Land Rover (JLR) North America December U.S. sales for both brands hit 12,573 units, a 30% increase from 9,638 units in December 2015; making it the best ever December retail month,” the company said in a release.

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