Mumbai: The Reserve Bank of India (RBI) on Thursday proposed registering of peer-to-peer (P2P) lending platforms as non-banking finance companies (NBFCs) so that they can be brought under the regulatory purview of the central bank.

In a consultation paper released on its website, the banking regulator has suggested regulating the permitted activities of P2P lenders, along with capital requirements, governance and business continuity plans of such entities.

The Union Cabinet on Wednesday approved an increase in investment by Bharat Petroleum Corporation in its Oman arm, Bharat Oman Refineries to a maximum of Rs 3,000 crore.

“The investment amount could be enhanced up to a maximum of Rs. 3,000 crore by way of subscription of convertible warrants/other instruments giving right to convert it into equity shares to be issued by BORL...” the government said in a release.

In a bid to support government’s vision of ‘Housing for All by 2022’, PNB Housing Finance Ltd on Thursday launched a special home loan scheme that can be availed by the salaried and self-employed professionals for a amount up to Rs 25 lakhs. The loan can be availed by individuals with income starting from Rs 10,000 per month and above.

The move that would bring cheers to middle and lower income segment will enable them realise their dream of owning a home at affordable Equated Monthly Instalments (EMIs).

The Indian Space Research Organisation (Isro) has successfully launched a rocket (PSLV-C33), which is carrying country's seventh navigation satellite today. With the successful launch, India doesn’t have to depend on a foreign power when it comes to military navigation.

The 44.4 metre, 320 tonne Polar Satellite Launch Vehicle (PSLV-C33), carrying Indian Regional Navigation Satellite System-IRNSS-1G, blasted off at 12.50 p.m. on Thursday from Sriharikota space station near Chennai.

Shares of three private sector banks – HDFC Bank, Yes Bank and IndusInd Bank – touched their lifetime highs on the National Stock Exchange (NSE) in an otherwise rangebound market.

Post robust January-March (Q4FY16) quarter earnings, all these three banks have been outperforming the market by gaining between 4% and 7% as compared to less than 1% rise in the Nifty.

The Narendra Modi government today blamed the previous UPA regime for the “decline” in financial condition of BSNL and MTNL, saying the two state-run telecom companies were together suffering losses to the tune of Rs 10,000 crore in 2014 when the BJP-led dispensation took over.

Telecom Minister Ravi Shankar Prasad said in Lok Sabha that in 2004, BSNL was incurring profits of around Rs 10,000 crore and MTNL Rs 900 crore.

Domestic equity indices BSE Sensex and NSE Nifty swung between gains and losses on Wednesday as investors stayed cautious ahead of US FOMC meet outcome due today and F&O expiry on Thursday. Later, Sensex closed 56.82 points up at 26,064.12, while Nifty settled 17.25 points up at 7,979.90.

In the 50-share index, Adani Ports, Bharti Airtel, ONGC, Bharti Infratel and GAIL gained between 2.65 per cent and 5.38 per cent. On the other hand, ICICI Bank, Axis Bank, State Bank of India (SBI), UltraTech Cement and Tata Power slid between 1.80 per cent and 3.45 per cent.

Mercedes Benz has written to the road transport ministry to convery its ability to supply vehicles that can run on clean fuels like bio-diesel and ethanol.

Road transport minister Nitin Gadkari on Wednesday said the company has written to him informing of its ability to supply all forms of vehicles which can run on environmentally less polluting forms of fuels. He also said that the government will begin work on planting trees along national highways under the Green Highways (Plantation, Transplantation, Beautification and Maintenence) Policy, 2015.

Tata Motors on Wednesday said it has raised Rs 300 crore by issuing non-convertible debentures (NCDs) on private placement basis.

A meeting of a duly authorised committee approved the issuance of privately placed 3,000 NDCs of face value of Rs 10 lakh each at par aggregating up to Rs 300 crore, the company said in a BSE filing.

Bengaluru: DLF Ltd will officially launch on Wednesday Mall of India in Noida, a two million sq. ft retail and entertainment space, adding a sixth shopping mall to its portfolio of retail assets. The mall is expected to generate about Rs.250 crore of rental income annually for the realty firm.

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