HDFC Bank wants to accelerate its growth in the credit card segment and capture further market share by aiming to offer 0.4 million credit cards every month, almost double of the number they issue currently.

The lender is the largest issuer of credit card in the country. “About a little more than a year back, we were issuing about 75,000-80,000 credit cards,” said Parag Rao, head (cards, merchant acquiring business & marketing), HDFC Bank. “Right now we are offering around two lakh (0.2 million) cards a month. And we plan to double it to about 4 lakh (0.4 mn) cards in the next 12-15 months.”

As much as Rs 50,000 crore of indirect tax evasion and another Rs 21,000 crore of undisclosed income has been unearthed by the government in the last years.

Finance Ministry in a statement today said the crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years, a 32% jump over a similar previous period.

The Reserve Bank of India today fixed the reference rate of the rupee at 66.72 against the US dollar and 75.95 for the euro.

These rates were 66.43 and 75.80, respectively yesterday.

Stepping up attack on Prime Minister Narendra Modi, Congress has given notices for breach of privilege against him in both Houses of Parliament over his remarks against Sonia Gandhi in the AgustaWestland issue even as the party members continued their protests.

The government, however, remained defiant, with Finance Minister Arun Jaitley asserting in the Rajya Sabha that the "Prime Minister is entitled to speak on corruption" both inside and outside the House and he cannot be "gagged".

Larsen & Toubro (L&T) was up 2% at Rs 1,321 extending its previous day’s nearly 3% gain on the BSE. The stock is currently trading at its highest level since December 2015.

The capital goods major on Tuesday announced that a meeting of the board of directors of the company will be held on May 25, 2016, to consider and approve the audited financial results of the Company for the year ended March 31, 2016 and to recommend dividend, if any.

Kotak Mahindra Prime said Tuesday it will raise Rs 50 crore by issuing debentures on a private placement basis.

"The company intends to issue secured, redeemable, non- convertible debentures of the face value of Rs 10 lakh each, amounting to Rs 50 crore, on a private placement basis," it said in a BSE filing.

Rakesh Ranjan Yadav alias Rocky Yadav, the son of ruling JD(U) MLC Manorama Devi who allegedly shot dead a 20-year-old youth for overtaking his vehicle, was arrested from his father's mixer plant in the district today.

Police have recovered the weapon used in the crime.

"The main accused Rocky Yadav was arrested from his father Bindi Yadav's mixer plant located at Mastpura village of Bodh Gaya Police Station of Gaya district. Rocky was arrested along with the weapon (Bretta pistol) used in the crime," Senior Superintendent of Police Garima Mallik said.

Tech giant Google on Monday announced the launch of free high-speed public wi-fi service at 15 railways stations across India over the extensive fiber network of Indian Railway's RailTel, which provides internet services as RailWire.

"We're seeing incredible usage of the wi-fi service across the stations and over 2.5 lakhs users are using the service every week, demonstrating more than 2x growth in less than a month. Backed by this response, RailTel and the ministry of railways has decided to extend the project to cover key suburban stations in Mumbai as well," said Gulzar Azad, head of access programmes, Google India.

In the crucial Uttarakhand floor test, Congress on Tuesday claimed victory, even as the results of the vote of confidence were sent to the Supreme Court in a sealed envelope. Even though the floor test was done by 12:00 PM, the declaration of the results will be done by the apex court on Wednesday.

Ahead of the floor test, BSP chief Mayawati had said that both her party’s MLAs will support Congress. President’s rule has been lifted in Uttarakhand on May 10 from 11:00 AM to 1:00 PM, to allow for the floor test.

Tata Motors-owned Jaguar Land Rover (JLR) on Monday posted a 11 per cent increase in its April sales at 41,341 units, helped by incremental volumes of the new compact Jaguar XE.

Retail sales for the month of April were up year-on-year across all regions 25 per cent in the UK, 11 per cent in China, 10 per cent in Europe and two per cent in North America.

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