New York and British authorities slapped nearly $630 million (nearly Rs 4,191.23 crore) in fines on German banking giant Deutsche Bank over alleged money laundering in Russia, New York State's Department of Financial Services announced.

The scheme illegally moved $10 billion (nearly Rs 66527.5 crore) out of Russia, using so-called mirror trades among the bank's Moscow, London and New York offices, authorities said. The US Justice Department also is investigating the matter.

Facing criticism from the Election Commission (EC) for not allowing candidates contesting the coming Assembly polls to withdraw cash up to their legal limit, the Reserve Bank of India (RBI) on Monday removed withdrawal restrictions on current, cash credit and overdraft accounts with immediate effect.

ATM withdrawal restrictions will also be eased from Wednesday, RBI said. A savings account holder may now withdraw up to Rs 24,000 at one go from ATMs. Earlier, the limit on such accounts was Rs 10,000 per day, with a weekly cap of Rs 24,000.

Concerned over a large number of companies indulging in illegal money pooling activities, markets regulator Sebi today cautioned investors and general public against dealing with such entities -- 256 as per the latest update.

Securities and Exchange Board of India (Sebi) has cautioned investors against unlisted firms issuing securities without complying with the market norms.

Although the sales of Microsoft’s Augmented Reality (AR) headset HoloLens has not been very promising yet, it is helping put civil engineers build blueprints of a building, making their work easy and less time consuming. Microsoft has collaborated with University of Cambridge’s construction IT lab and is helping engineers use HoloLens to overlay a design onto a real world bridge or building (or vice-versa), making inspections simpler and safer.

The Supreme Court of India on Monday appointed the four administrators that will now lead the Board of Control for Cricket in India (BCCI) panel. The panel includes former Comptroller and Auditor General (CAG) of India Vinod Rai, Indian historian Ramachandra Guha, former Indian women’s test cricketer Diana Edulji and IDFC CEO & MD Vikram Limaye. The apex court declined the Centre’s request to appoint Secretary of Sports Ministry as the member of the committee.

The benchmark indices pared all losses to edge higher thanks to over 13% rise in index heavyweight Bharti Airtel even as the broader sentiment remained cautious ahead of the Union Budget 2017.

At 01:41 pm, the S&P BSE Sensex was trading at 27,932, up 50 points, while the broader Nifty50 was ruling at 8,656, up 15 points.

Public sector oil and gas companies GAIL and HPCL together propose to set up a cracker unit at Kakinada on the east coast at an estimated investment of Rs 40,000 crore.

The proposal was in discussions for more than a year now with Andhra Pradesh government seeking these investments at Machilipatnam port closer to the upcoming capital city Amaravati.

Shares of Jindal Steel & Power (JSPL) surged as much as 5% in early-morning trade in an otherwise flat market, after the company informed BSE that the company has secured long term coal linkage of a total quantity of 0.5 million tonnes per annum for the next 5 years in the recently concluded coal linkage auction under Sponge Iron sub-sector, conducted by Coal India Limited.

This sourcing of coal will help the Company to secure fuel requirements and smooth operations of company’s sponge iron units, the company told the bourses.

NEW DELHI: With growth in the US and the UK --the Indian information technology industry's biggest markets --slowing due to mounting protectionist sentiment, the software services industry body is now trying to tap countries closer home, starting with China.

The National Association of Software and Services Companies (Nasscom) and the Consulate General of India in Shanghai co-hosted an event with the Nanjing government earlier this month to promote trade ties between Chinese companies and Indian IT firms.

New Delhi: Uttar Pradesh chief minister and Samajwadi Party (SP) national president Akhilesh Yadav and Congress vice-president Rahul Gandhi on Sunday launched their joint campaign for the upcoming assembly election in the state.

After addressing their first joint press conference since the alliance was formally announced on 17 January, the two leaders set off on a 12-km roadshow starting from the Gandhi statue at Hazratganj through most of old Lucknow in a show of unity with the tagline— ‘UP ko ye saath pasand hai’ (UP likes this alliance).

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