After a four-day fall, the benchmark Sensex recovered over 53 points on fresh buying by investors in blue-chip stocks despite a weak trend in Asia.

The 30-share index, which had lost 323.12 points in the previous four sessions, recovered 53.28 points, or 0.20 per cent, at 26,427.98.

NEW DELHI: Finance Minister Arun Jaitley today said the Axis BankBSE -1.26 % management has assured the government that it is taking action against erring officials who are involved in irregularities post demonetisation.

The minister further said the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are keeping a watch on the activities on bankers, and the top management of banks has been advised to take action against delinquent officials.

The Reserve Bank was fully prepared to deal with currency shortages post demonetization and has enough currency in its chests to last "far beyond" December 30, Finance Minister Arun Jaitley said.

"There was full preparedness. There was not a single day when RBI had not released adequate currency to banks. There was a certain level of currency that was to be released and there was full preparedness for it," Jaitley told reporters.

The change in the US Federal Reserve’s dot plots that now suggest more rate hikes in 2017 doesn’t seem to have made any material change to the Reserve Bank of India’s (RBI) monetary policy canvas.

Analysts still expect RBI to prune its repo rate in February by a quarter percentage point, and the monetary policy committee (MPC) will be only too happy to vote unanimously again.

New Delhi: The Employees Provident Fund Organization (EFPO) on Monday fixed 8.65% as the interest rate on Employees Provident Fund (EPF) deposits for its over four crore subscribers for the fiscal 2017.

The retirement fund body was expected to retain 8.8% as the rate of interest on PF deposits at its trustees meeting on Monday.

New Delhi: To prevent unscrupulous elements to convert black money into white through multiple small deposits into bank accounts in the last phase of demonetisation, the finance ministry has put fresh restrictions on deposits of old Rs500 and Rs1,000 notes into bank accounts.

According to a notification published on the Gazette of India, the finance ministry said demonetised high value currencies worth more than Rs5,000 can be deposited only once into a bank account up to 30 December. Further conditions will be separately notified by the Reserve Bank of India.

Earlier we told you about the next-gen Swift production images being revealed on the internet. Now, the 2017 Swift hatchback brochure has been leaked on the internet via Suzuki Blog. According to the leaked images, the all new generation Swift will be 15 percent lighter in weight and the design is now sleeker than the current generation Swift.

In terms of power, the Japan-spec version of new Swift might be powered by a 1.0 litre turbocharged and 1.2 litre petrol engine. The all new Swift will also get the SHVS as an option, although it's not clear if this technology will be offered in India as well, once the car gets launched here.

Hit by irregularities by some of its employees, Axis Bank said it has taken "unprecedented step" of temporarily suspending some of the suspicious accounts and has a rigorous compliance procedure.

The bank further said that it has already filed Suspicious Transaction Reports (STRs) with the Financial Intelligence Unit (FIU-IND) about the potentially suspect accounts which were later probed by investigative agencies.

National Aluminium Company Limited (Nalco) and NTPC Ltd have entered into an MoU to form a joint venture namely NTPC-Nalco Power Company (NNPC) for developing power projects and other business collaborations in India.

The JV plans to set up its first power plant at Gajamara (Odisha) with a capacity of 2,400 MW (3X800 MW), at an estimated investment of Rs 14,000 crore. The proposed super critical power plant will supply uninterrupted power to Nalco’s smelter at Angul. The process for acquisition of 1,600 acres of land in Gajamara has already commenced.

NEW DELHI: Renuka Talwar, daughter of DLF Chairman KP Singh, has acquired a bungalow on Prithviraj Road for Rs 435 crore in one of the biggest deals for a property in Lutyens' Delhi, according to people with knowledge of the matter.

The seller was Kamal Taneja, managing director of real estate developer TDI Infracorp. Located on a 4,925 sq metre plot, the bungalow has a builtup area of around 1,189 square metre and was sold for Rs 8.8 lakh per sq m. Based on current circle rates, its value is around Rs 383 crore.

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