Mumbai: The enforcement directorate (ED) on Monday arrested two officials of Axis Bank Ltd in Delhi and seized 3kg of gold, saying they were helping money launderers convert banned currency notes into gold, the ED said.

“Banks have been advised to stop activity in eleven accounts,” the ED added.

Private sector lender HDFC Bank has reduced the marginal cost of funds-based lending rate (MCLR) by 15 basis points (bps) across tenures.

The bank’s one-year MCLR now stands at 8.9%, on par with larger rivals State Bank of India and ICICI Bank.

NEW DELHI: Mobile phone customers of Bharat Sanchar Nigam Ltd. (BSNL) will soon be able to make unlimited local and national voice calls to any network for Rs 149 a month.

The new monthly tariff plan, expected to be introduced on January 1, will help the state-run telecom service provider compete with Reliance Industries’ telecom arm Reliance Jio Infocomm, whose entry is seen causing disruption in the country’s telecom sector.

The benchmark Sensex rose almost 120 points in early trade on optimistic buying by investors ahead of RBI policy review scheduled for Wednesday.

Firm Asian cues tracking record closing in the US as worries on Italy's political uncertainty faded, bolstered sentiment.

Yes Bank has partnered cab aggregator Ola to set up mobile ATMs across 30 locations in the country that will allow people to withdraw up to Rs 2,000 per card. The Point of Sale (PoS) enabled ATMs will be stationed in Ola cabs from where customers of any bank can withdraw the amount, Yes Bank said.

The service will be available in over 30 locations across 10 cities including Mumbai, Delhi, Bangalore, Chennai, Pune, Kolkata, Chandigarh, Ahmedabad, Hyderabad and Jaipur.

E-commerce giant Amazon has rolled out its global programme 'Launchpad' in India to provide startups in the country a platform to market, sell and deliver products across the globe.

India is the seventh country where Amazon Launchpad has been made available, and the platform, "tailormade" for startups, is available for a fee of Rs 5,000 a month.

Sudan is holding up extending ONGC Videsh's licence over an oil field as the government seeks higher royalties, tax and profit petroleum even as it delays paying nearly $300 million in oil dues.

The licence for Block 2B expired last week and an automatic 5-year extension is available, but Sudan, whose revenues have been hit with a drop in oil prices, wants higher taxes and royalties before it agrees to the same, officials said.

Tamil Nadu Chief Minister J Jayalalithaa is dead, according to news agency PTI. This was announced early Monday morning after her health deteriorated on Sunday night. She was 68. A statement from Apollo Hospitals had said yesterday that the CM suffered a cardiac arrest and medical specialists from UK and Delhi were being consulted to ensure the best possible care in the treatment was taken.

Mumbai: Bouncing back at the fag end of a volatile trade, the Sensex on Monday broke its two-day falling spell by closing over 118 points at 26,349 as bets went up in anticipation of a rate cut at RBI policy review due on Wednesday. Shares of auto and metal sectors did much of the rescue job for the market benchmark. Also, the NSE Nifty rescaled the key 8,100 mark. The 30-share Sensex after shuttling between 26,390.80 and 26,125.35 while it settled 118.44 points or 0.45% higher at 26,349.10.

State-owned Oil and Natural Gas Corp (ONGC) will in 2019 begin producing oil from the Ratna and R-Series oilfield in Mumbai offshore, which it won back after the government cancelled award to Essar Oil.

"We are working on a development plan and investment approvals will be sought in a month's time," ONGC Director (Offshore) Tapas Kumar Sengupta told PTI here.

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