Boosting start-ups and entrepreneurship is one of the several focus points for the Narendra Modi-led government. With a Rs 10,000 corpus allocated to new businesses and entrepreneurs, and a slew of changes to doing-business and taxation norms, it seems like the government has the back of start-ups in India.

Now, markets regulator Securities and Exchange Board of India has proposed an easier framework to ensure that start-ups in India look to the domestic market when they want to raise money, and don't to overseas, as it happens right now.

The Chief General Manager of the National Highways Authority of India (NHAI), B S Singla, on Saturday said the main reason for the traffic chaos on National Highway-8 (NH-8) was due to the poor management of storm drains.

Singla said at present, there was no traffic jam, but warned about the poor drainage system and asked the city administration to re-examine it.

State-run Life Insurance Corp and private sector Axis Bank on Friday jointly announced their tie-up to sell LIC products, creating one of the largest bancassurance partnerships in India.

Under a memorandum of understanding (MoU) signed between the two, Axis Bank branches will be selling LIC policies, a joint statement here said.

Mumbai: State Bank of India (SBI) on Friday said that it will reduce its marginal cost lending rate (MCLR)—the benchmark lending rate at which banks lend to new borrowers—by 5 basis points (bps) across maturities, effective 1 August.

A basis point is one-hundredth of a percentage point, or 0.01%.

Bengaluru: Infosys Ltd surprised many in April when it set an aggressive revenue growth target and said it could grow by as much as 13.8% in the year ahead. After all, India’s second largest software services exporter has traditionally been a company that prefers to under-promise and over-deliver.

It emerges that the dollar revenue growth outlook outlined by Infosys in April included business from a proposed merger of drug makers Pfizer Inc. and Allergan Plc., even though the deal had been called off days before Infosys’s management set out the target, according to executives familiar with the matter.

ICICI Bank shares slumped over 3 per cent as analysts expected muted performance from the private sector lender. KR Ckoksey Institutional expects 30 per cent year-on-year fall in net profit at Rs 2,083.30 cr for the quarter ended June 30, 2016 as compared to Rs 2,976.20 cr in the quarter ended March 31, 2016. The brokerage house said, “The overall credit growth should move in tandem with industry averages led by retail credit.

Brokerage are divided on Punjab National Bank shares after the public sector bank reported 57.49 per cent fall in net profit at Rs 306.36 crore for the quarter ended June 30, 2016 against Rs 720.71 crore in the corresponding quarter a year ago.

Religare Institutional Equities in a research report said, “We continue to believe that mounting provisions and sustained pressure on asset quality and margins will keep earnings soft. We maintain ‘Sell’ on Punjab National Bank shares with a March 2017 target price of Rs 70.

NEW DELHI: State-run Bharat Heavy Electricals Ltd (BHEL) has bagged orders for setting up 80 mw of solar photovoltaic power plants on engineering, procurement and construction basis.

The orders, valued at Rs 437 crore, have been placed by Neyveli Lignite Corporation LTd (NLC) and Bharat Electronics Ltd (BEL).

Union Transport Minister Nitin Gadkari has spoken to NHAI Chairman and directed him to send team of officials to NH8 immediately. Thousands of office goers and other commuters were on Friday stranded in Gurugram as heavy rains led to waterlogging on National Highway-8 causing massive traffic jams, forcing authorities to shut down schools in Delhi's satellite city while some offices too declared it an off.

Hurt by a failed $7.6 billion Nokia experiment amid growing losses in the smartphone hardware business segment, Microsoft has announced to lay off an additional 2,850 workers to the previously 1,850 jobs it said it would cut.

In a regulatory filing, the tech giant said it will cut 4,700 jobs globally by the end of fiscal year 2017, PC World reported on Friday.

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