Mumbai: Universal bank licences will now be available on tap, with the Reserve Bank of India (RBI) on Monday releasing the final set of guidelines for eligible entities to apply for licences as and when they choose to, and keeping the doors closed to large business houses.

Non-banking financial companies (NBFCs), qualified individuals and some private companies will be eligible to apply for licences.

MUMBAI: Amid the government talks with global tech giants to let Indians have email IDs in their local language, markets regulator Sebi has directed all the intermediaries in the securities market to start communicating with the investors in vernacular languages, in addition to Hindi and English, which are already in use. To start with, Sebi has asked intermediaries that documents stating rights & obligations of brokers, disclosure about risks, and also do's and don'ts of stock trading should be available in 15 Indian languages.

With a long weekend coming in the first fortnight of August, Indian Railway Catering and Tourism Corporation (IRCTC) has planned a semi-luxury train tour that would take travellers from Delhi to the famous historical and religious places of Rajasthan, including Udaipur, known as the City of Lakes, Ajmer and Pushkar.

The unique circuit planned for the long weekend of August 12-16 also includes visits to Chittorgarh and Mt. Abu in the itinerary, which begins from Delhi Safdarjung station, said a senior IRCTC official.

Reliance Industries (RIL) has blamed government-owned ONGC for ‘not pointing out’ more than a decade back the underground contiguity of their adjacent deepwater blocks in the Krishna Godavari (KG) basin. RIL has argued that the 2003 report, cited by ONGC before the AP Shah panel, was preliminary in nature and carried out just to meet regulatory norms and that it did not offer any scope for joint development of the blocks at that time.

MUMBAI: State Bank of IndiaBSE 0.26 %, the biggest bank in the country, is considering a proposal to either relocate or shut down about 30% of its nearly 24,000 branches (SBI Group) to remain competitive as advised by global management consultant McKinsey.

While Mckinsey did not respond to ET's query, SBI MD Rajnish Kumar confirmed that the bank had hired Mckinsey for branch optimisation but did not offer any comment or detail about the size of the rationalization.

The BSE Sensex recovered by almost 67 points in early trade on fresh buying by investors and foreign funds buoyed by a pick up in infrastructure sector in June coupled with rising hopes of GST Bill passage this week.

The 30-share index rose 66.94 points or 0.23% to 28,070.06 with all the sectoral indices led by FMCG, capital goods, auto, healthcare and banking, advancing by up to 1.11%. The gauge had lost 205.48 points in the previous two sessions.

Shares of Maruti Suzuki India touched Rs 5,000 mark, a fresh record high on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), crossing the market capitalisation (m-cap) of Rs 150,000 crore on Tuesday.

At 09:57am, the stock was up 2% at Rs 4,968 with the m-cap of Rs 150,067 crore on the BSE. Maruti Suzuki India became the 13th Indian company to achieve a market capitalisation of Rs 1,50,000 crore.

TVS Motor announced that the company has commenced manufacturing products for BMW at its Hosur facility.

K N Radhakrishnan, president & CEO, TVS Motor said that first product will be launched after October by BMW, and TVS will launch its product by end of fiscal.

ICICI Bank, the country’s largest private sector lender, has tied up with private equity firm Apollo Global Management and Aion Capital Management to set up an asset reconstruction company (ARC) in India.

In a statement, the lender said they have entered into a memorandum of understanding (MoU) to work together for debt resolution in the country, in an effort to revitalise and turn around over-leveraged borrowers.

Power generator NTPC, with an installed capacity of 47,178 Mw, in a serious bid to maintain its 25 per cent market share, is aggressively pursuing thermal and solar power addition.

The thermal strategy is domestic coal-driven. Projects of 24,000 Mw, with an investment of Rs 1.5 lakh crore, are under various stages of construction. The company hopes to commission projects of 4,500 Mw capacity during 2016-17.

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