Finance Minister Arun Jaitley is addressing the boards of The Reserve Bank of India and Securities and Exchange Board of India today to discuss the feasability of introducing various financial sector reforms announced in the budget proposals for 2016-17.

The address of the finance minister comes in the backdrop of the government's announcement of meeting the current year's fiscal deficit target and sticking to the target of 3.5%.

Two BSF jawans were today killed while four others injured in a Naxal encounter in Chhattisgarh's Kanker district.

The encounter broke out early today between a Border Security Force patrol and armed Naxal cadres near the Chhotebethiya-Pakhanjore jungle axis of the Maoist violence- hit district, officials said.

Rating agency Moody’s said thin loss-absorbing buffers are a key weakness in State Bank of India’s credit profile, with a provision cover for bad loans of 65 per cent, much lower than similarly rated global peers and down from 69 per cent at end-March 2015.

SBI’s reported gross non-performing loans (NPLs) rose to 5.1 per cent of the total at end-December 2015 from 4.25 per cent in March, following the Reserve Bank of India’s asset quality review. And, is expected to be around six per cent for the year ending March 2016.

The Securities and Exchange Board of India (Sebi) has issued a letter to United Spirits Ltd (USL) seeking details on the severance deal between Vijay Mallya and London-based spirits firm Diageo.

"Sebi is examining intricacies of the deal and may summon officials from USL," said a source.

New Delhi: Ford India Pvt. Ltd on Friday said that it has cut prices of its best-selling model EcoSport by up to Rs.1.12 lakh.

The move is prompted by introduction of Maruti Suzuki India Ltd’s Vitara Brezza that will take on the EcoSport in the small sports utility vehicle segment.

Mumbai: Indian stock markets edged higher on Friday in a volatile session as energy companies such as Reliance Industries Ltd (RIL) rallied after the country simplified oil and gas licensing rules, while property developers gained after Parliament passed a real estate bill.

The S&P BSE Sensex closed 0.38%, or 94.65 points, higher at 24,717.99, while the Nifty closed 0.32%, or 24.05 points, higher at 7,510.20, after spending the day swinging between gains and losses as investors also booked profits in recent outperformers.

ONGC is set to regain possession of the Ratna and R-series shallow-water oil fields, roughly 130 km southwest of Mumbai, after an interval of about two decades. The CCEA on Thursday decided to let ONGC operate the fields.

Petroleum minister Dharmendra Pradhan said that the government has decided to give the assets to ONGC on nomination basis, so that they can start production.

State-run telecom company Bharat Sanchar Nigam Limited (BSNL) is likely to finalise a deal with leading telecom company Bharti Airtel by June this year for spectrum sharing in four telecom circles, BSNL CMD Anupam Shrivastava said on Thursday.

Srivastava said BSNL is working on sharing spectrum with Bharti Airtel in Rajasthan, UP (West), Bihar and Assam telecom circles for which it has constitued a committee to look into the feasibility aspect to ascertain if it can offer similar services to other telcos as well.

The biggest public sector lender State Bank Of India on Thursday denied any laxity on the part of the consortium of banks in seeking reliefs against the defunct Kingfisher Airlines Ltd. (KFAL), its promoters and holding-associated company. It also refuted certain media reports purportedly blaming the SBI, the leader of the consortium, for the crisis and termed these as based on “hearsay and conjecture”.

NEW DELHI: Tata Consultancy Services has been named as a top employer in the United States for a second consecutive year by the Top Employers Institute, an employer certification agency.

TCS was recognised as an exceptional performer across nine categories: talent strategy, workforce planning, on-boarding, learning and development, performance management, leadership development, career and succession management, compensation and benefits, and culture.

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