New Delhi: State Bank of India (SBI), the nation’s biggest lender by assets, will gain $120 billion in assets following its merger with associate banks and Bharatiya Mahila Bank, the lender said on Saturday.

In a first move to consolidate India’s struggling public sector banks, SBI’s board on Thursday approved share swap ratio for the proposed takeover of five units that had been run at arms-length, as well as state-run Bharatiya Mahila Bank, a bank for women set up in 2013.

New Delhi: P.V. Sindhu’s dream of becoming the first Indian woman to win an Olympic gold medal ended in an agonizing defeat to world no. 1 Carolina Marin of Spain in the badminton final on Friday.

The 21-year-old from Hyderabad had to be content with the first Olympic silver won by an Indian woman after squandering a one-game lead to go down 21-19, 12-21, 15-21.

MUMBAI: Mahindra & Mahindra (M&M) is said to have begun working on what is being pegged as the most affordable electric SUV in the world through its Mahindra Electric unit, formerly known as Mahindra Reva.

The compact SUV with electric powertrain has been codenamed S107, said people with knowledge of the matter. After the Verito electric version, this is the company's next major project in the space.

Bengaluru: Tata Consultancy Services Ltd (TCS) is throwing its weight behind blockchain and getting ready to launch core banking software based on the underlying technology behind virtual currency Bitcoin.

This will make India’s largest software exporter only the second large company globally to do so. Incidentally, local rival Infosys Ltd launched a blockchain framework for Finacle, its core banking platform, earlier this year.

Finance Minister Arun Jaitley on Thursday held an hour-long discussion with Prime Minister Narendra Modi over appointment of new RBI Governor, a post that will fall vacant on September 4.

The high-profile meeting, which took place at the Prime Minister's residence here, is believed to have deliberated on various names who could succeed Raghuram Rajan, who demits office early next month on completion of his 3-year tenure.

MUMBAI: The rupee weakened 15 paise to 66.96 against the US dollar in early trade at the Interbank Foreign Exchange on Friday following increased demand for the American currency from banks and importers.

Moreover, the US dollar's gain against some currencies overseas put the rupee on the backfoot, forex dealers said.

MUMBAI: "Gift your family a raksha pack," is the sales pitch doing the rounds across Maruti Suzuki dealerships these days, coinciding with the festival of Raksha Bandhan. Maruti started offering airbags and anti-lock braking system (ABS) as an option — at an extra cost of Rs 6,000-20,000 on entry-level cars — a year ago, but the demand for these safety features has been dismal.

For the second year in a row, Indian Railway Catering and Tourism Corporation (IRCTC) has made it to the prestigious Fortune India Next 500 list of Indian companies, with the Railway Ministry PSU improving its ranking to 199 from 328 in 2015.

The awards, which recognise the outstanding contributions of the companies made during last year, will be presented on Friday (Aug. 19) as a part of Fortune India?s The Next 500 summit at Leela Palace hotel here.

National Mission for Clean Ganga (NMCG) has signed an MoU with Indian Oil Corporation Ltd (IOCL) as per which IOCL will use treated water from a new sewage treatment plant (STP) in its Mathura refinery.

The construction work for the new STP in Mathura began on August 17, 2016. The treated water from this STP will be used by industries in the neighbouring areas. The 20 million litre per day (MLD) STP in Vrindavan will be built at a cost of Rs 40 crore.

State Bank of India (SBI) & its listed associate banks mainly State Bank of Travancore (SBT) and State Bank of Bikaner & Jaipur (SBBJ) have rallied by up to 9% on the BSE in early morning trade after SBI on Thursday approved the share swap ratios for the merger of five associate banks and Bharatiya Mahila Bank with itself.

SBI will issue 28 shares of Rs 1 each for 10 shares of Rs 10 each for the SBBJ, and 22 shares for 10 shares of the SBT. Likewise, shareholders of SBM will also get 22 shares in SBI for every 10 shares held by them in SBM.

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