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.

An Air India Ahmedabad-London-Newark flight lost communication with the local Air Traffic Control and was escorted by fighter jets over Hungary, officials said here on Friday.

The flight AI-171 had departed from Ahmedabad at 7 a.m. on Friday with 231 passengers and 18 crew members.

Sebi on Friday streamlined regulatory framework for 'scheme of arrangement' such as merger and acquisitions by listed firms to check any possible 'bypassing' of norms and prevent companies from seeking direct approval of National Company Law Tribunal (NCLT) for such deals.

The decision has been taken in consultation with the stock exchanges and market participants.

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