Seeking to give a fillip to start-up funding, markets regulator Sebi on Wednesday relaxed its rules for investment by angel funds in this space, including by allowing them to invest in up to five-year old entities.

Besides, the lock-in requirement has been reduced from three years to one year for angel funds and their minimum investment threshold has been slashed from Rs 50 lakh to Rs 25 lakh.

New Delhi: Prime Minister Narendra Modi’s decision to scrap large bank notes have an unintended beneficiary: India’s cash-strapped power companies.

Electricity consumers who hadn’t paid their bills for months are queuing up to square their accounts as the old bills can still be used to pay charges until 24 November.

Mumbai: Ratan Tata once tried to sell Tata Consultancy Services Ltd (TCS), now the cash cow of the Tata group, to International Business Machines Corp. (IBM), a statement from the office of Cyrus Mistry claimed on Tuesday.

The statement, which came days after Tata Sons Ltd said its ousted chairman failed to “contribute materially” to TCS, denied the allegation and said Mistry had worked to future-proof the software maker’s strategy.

The Indian Cricket Board's relations with the ICC, headed by Shashank Manohar, hit a new low after Indian women's cricket team was docked six points for not playing bilateral series with Pakistan between August 1 to October 31 according to agreement.

There are possibilities that men's team might not play Champions Trophy in protest against the women cricketers being made "soft targets" in the name of rules and regulations.

To encourage widespread usage of digital payments post demonetisation, the government on Wednesday said no transaction charges will be levied on debit cards till December 31.

All public sector banks and some private sector ones have agreed to waive the transaction cost for all payments made through debit cards, Economic Affairs Secretary Shaktikanta Das said.

New Delhi: Even after nearly two months of free services, Reliance Jio Infocomm Ltd has not been able to impact the net subscriber additions for incumbent telecom operators.

In fact, the net additions in October for Bharti Airtel Ltd, Idea Cellular Ltd and Vodafone India have been higher than their last six-month average, according to a report by Citi Research.

In a major relief to Anil Ambani-led Reliance Communications, the Supreme Court on Tuesday dismissed the income tax department’s appeal seeking to tax the proceeds of its $1.5-billion foreign currency convertible bonds (FCCBs) issued by the telecom firm nearly a decade ago.

While the company said the apex court has quashed a “contingent tax liability of RCom for about R4,800 crore”, the I-T department in its appeal had claimed a tax liability of R2,236.01 crore for assessment year 2007-08.

Suzuki is working on the new version of the Swift hatchback and the Swift Sport has now been recently spied testing in Europe. The new Suzuki Swift Sport is expected to make its debut at the 2017 Geneva Motor Show in March, along with the new standard Swift model. The 2017 Swift is likely to be launched in India late next year.The Suzuki Swift Sport will be based on the Baleno‘s platform, which reduces the overall weight of the vehicle and improves rigidity and performance. As the name suggests, the new Suzuki Swift Sport will have a sporty body design and will feature a rear spoiler, dual exhaust pipes, new sporty alloy wheels and a lower ride height than the standard Swift.

Faced with economic challenges, engineering major Larsen & Toubro (L&T) has laid off 14,000 employees across businesses during April-September period this year, saying it was necessary to stay "agile and competitive".

"It was a strategic decision that if a business is not in good shape, we are trying to resize it. If there is time to get the business back to normalcy, it is important to reduce the under-recoveries. So, the jobs that we are finding redundant, we are allowing people to move on," company's Chief Financial Officer R Shankar Raman said.

With State Bank of India (SBI), the country’s largest lender, and HDFC Bank, the second-largest private sector lender, deciding to accept payments made through the Unified Payments Interface (UPI), the digital payment system is likely to see robust growth in the days to come. With this, the number of banks accepting UPI payments stands at 28.

Launched on August 25 this year, UPI has made money transfer simpler by doing away with details such as bank account number, IFSC code, etc. Bankers had hailed it as the ‘WhatsApp moment’ for payments in India.

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