Global ratings agency Moody's today said that country’s largest lender the State Bank of India's (SBI) profitability metrics could face lingering pressure as it spends the next six-eight quarters for rebuilding its balance-sheet buffers.

In contrast, its private sector counterpart, ICICI Bank, whose operating profitability has improved significantly, allows it to absorb a higher level of credit costs.

The state-run BSNL will launch wi-fi facility at Mata Vaishno Devi Shrine tomorrow, its 1,000th hotspot in the country.

Union Telecom Minister Ravi Shankar Prasad will launch the facility from Delhi.

BSNL had planned to set up 2,500 wi-fi hotspots in 250 locations at a cost of Rs 500 crore in the current financial year.

COIMBATORE: TVS Motors has entered into a partnership with Snapdeal to sell its motorcycles and scooters online. Nine two-wheeler products from TVS Motor Company will be available on Snapdeal.

Customers will now be able to select the model, colour and dealership of their choice on the 'Snapdeal Motors' platform from the comfort of their homes.

Mumbai: Three years after the National Spot Exchange Ltd (NSEL) scam and eight months after the merger of the Forward Markets Commission (FMC) with the Securities and Exchange Board of India (Sebi), action against NSEL brokers is on the cards.

The capital market watchdog has formed an investigative team to look into their role, said two persons familiar with the development. “Sebi has formed an investigative team-cum-committee to look into the allegations against the brokers of NSEL,” said one of the persons quoted above.

The rupee depreciated by 5 paise to 67.43 against the US dollar at the Interbank Foreign Exchange in early trade today due to increased demand for the American currency from importers amid a lower opening of the domestic equity market.

Besides, a dip in country’s exports in February and dollar’s strength against other currencies overseas, also put pressure on the rupee, forex dealers said.

National carrier Air India (AI) on Tuesday announced its summer schedule in which the airline has expanded its operations in the domestic and international routes and will be effective from March 27. The summer schedule will offer daily return flights from Bengaluru – Trivandrum and Mumbai – Bhopal sector.

Frequency on the Delhi – Pune sector is also being enhanced with number of flights added to and from Pune.

Country’s largest private sector lender ICICI Bank today launched a smartphone-based application which will allow users to pay for purchases by simply tapping their smartphones on a merchant terminal at a shop.

The service, launched today for the employees of the bank, will soon be made available for over 35 million debit and credit card holders of the lender, ICICI Bank’s Executive Director Rajiv Sabahrwal told reporters on a concall.

Apex IT industry body Nasscom will set up a warehouse in port city Visakhapatnam under its 10,000 Startups initiative to nurture technology entrepreneurs with innovative ideas.

The entrepreneurs will be mentored and funded by venture capitalists and other investors under the Nasscom initiative.

Tata Motors on Wednesday said it will supply 25 hybrid electric buses to the Mumbai Metropolitan Region Development Authority (MMRDA).

The contract to supply Tata Starbus Diesel Series Hybrid Electric Bus with full low floor configuration is the single largest order awarded for hybrid electric vehicle technology, Tata Motors said in a statement.

Shares of oil marketing companies such as Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL) gained on Tuesday after Credit Suisse maintained its “outperform” rating on fuel retailers, citing refining margins to remain strong for oil retailers as demand-supply tightens.

BPCL, IOC and HPCL closed 0.97 per cent, 2.10 per cent and 2.53 per cent higher at Rs 810.60, Rs 392.95 and Rs 740.40, respectively.

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