The Securities and Exchange Board of India (Sebi) is considering a steep increase in the minimum net worth requirement for registrar and transfer agents (RTAs).

The markets regulator recently met RTAs, where the issue of raising the net worth to as much as Rs 2 crore was deliberated. Under the current provisions, the minimum capital required is Rs 50 lakh.

Tata Motors, India’s biggest commercial vehicle manufacturer, is keen to enter the load aggregator space, after the sector saw its first corporate action a year ago with the entry of Mahindra & Mahindra, the country’s second-biggest CV maker.

A senior company official said that given Tata Motors’ large and loyal consumer base it makes business sense to tie up with its clients for providing this add-on service. Tata Motors is exploring the idea of making an equity investment in a start-up for which it is already talking to a few companies.

Information technology major Wipro has said it will work with select start-ups in India that are associated with Microsoft Accelerator to help them scale their business and take them to customers globally.

Wipro will also look at start-ups to identify innovative solutions and products they can build in its offerings and help generate value for its customers.

NASA has awarded a $127 million contract to the California-based satellite company Space Systems/Loral for giving shape to its robotic spacecraft equipped with the tools, technologies and techniques needed to service satellites currently in orbit.

During its mission, the Restore-L servicer, a free-flying mission projected to launch in 2020, will rendezvous with, grasp, refuel and relocate a government-owned satellite to extend its life.

Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corp today signed a pact to build India's biggest oil refinery at a cost of $30 billion on the west coast.

The three firms signed the pact for the 60-million tonne a year refinery in Maharashtra with IOC as leader of the consortium, officials said.

Prime Minister Narendra Modi has been shortlisted by Time magazine for its annual honour of Person of the Year alongside US President-elect Donald Trump and Russian President Vladimir Putin. Time editors shortlisted 11 candidates for the 2016 Person of the Year the publication's annual selection of the person who most influenced the news, for better or for worse. On Modi, Time said the Indian Prime Minister has guided his country's economy into position as the "emerging-market world's most positive story."

NEW DELHI: A unit of India's Oil and Natural Gas Corp Ltd (ONGC) is in early talks with Gazprom for supply of natural gas through a complex swap involving Russia, China and Myanmar, the head of the unit said on Wednesday.

The unit, ONGC Videsh Ltd, and two other Indian state companies, GAIL and Engineers India Ltd , first discussed the idea with Gazprom a few months ago, said Narendra K. Verma, ONGC Videsh's managing director.

NEW DELHI: The Women and Child Development Ministry has tied up with India Post and State Bank of India to offer more payment options to buyers and simplify shipping of products bought from "Mahila E-haat", an online marketing platform for women entrepreneurs.

SBI users can now avail multiple options for making payments such as draft, cheque, e-banking and e-wallet through "SBI Buddy" application. The SBI customers abroad can make use of "SBI Global".

Mumbai: Come April and you may receive an instant credit to your bank account on redeeming a liquid mutual fund, just like a mobile wallet transaction.

The Securities and Ex­change Board of India (Sebi) is in the process of framing a set of rules for such transactions, three people with direct knowledge of the matter said on condition of anonymity.

MUMBAI: The country's third largest private sector lender Axis BankBSE -0.09 % on Tuesday said that it has suspended nineteen employees across India for allegedly involved in corrupt practices in exchanging currency post demonetisation.

The bank also said that it has hired KPMG to conduct a forensic audit to strengthen its processes. "We have identified and suspended 19 employees at various levels in hierarchy across the country, for alleged deviations," an Axis Bank official said.

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