Former Chief Financial Officer (CFO) of IT major Infosys Ltd, V Balakrishnan today joined city-based digital consultancy firm Kaar Technologies as an Independent Director.

A veteran in the information technology sector, Balakrishnan would also head Audit Committee of Kaar Technologies, its Chairman and CEO Maran Nagarajan said.

The rupee weakened by 13 paise to 64.95 against the dollar at the Interbank Foreign Exchange in early trade today on demand of the US currency among importers amid shrinking exports in September.

The dollar was firm against major global currencies following stronger-than-expected US inflation data which dampened rupee sentiment, dealers said.

Nestle India on Friday said all samples of its Maggi noodles have cleared laboratory tests mandated by the Bombay High Court. The results potentially pave the way for the instant noodles brand -- which accounted for 30% of Nestle India's revenues -- to return to the market after it was banned in June over the suspected presence of excess lead and MSG.

The company said it has received test results from all three laboratories mandated by the Bombay High Court in August, and that all 90 samples, covering six varieties, were safe for consumption.

New Delhi: Courier service provider Blue Dart Express Ltd on Thursday introduced a locker service at Gurgaon’s Cyber Park to store parcels in an attempt to address the high failure rates in delivering parcels (15-18%) in the e-commerce sector. The addressee can collect it at a convenient time.

The round-the-clock service is expected to benefit customers who may be away from the shipping address for long hours. The timing is significant given that the e-commerce firms are running sales campaigns ahead of the festival season.

The Telecom Regulatory Authority of India (Trai) has doubled the penalty for violation of the parameters based on which service quality is determined in an effort to make telecom companies (telcos) improve their networks and reduce call drops.

“From the monitoring of performance of cellular mobile telephone operators, Trai observed that the present amount of financial disincentives has not acted as a sufficient deterrent against non-compliance as there have been repeated consecutive cases of non-compliance with the benchmarks,” the telecom regulator said in a statement on Thursday.

Last year, Yes Bank Ltd realized that managing one million customers across India wasn’t an easy task, especially when pursuing a goal of increasing its mobile banking user base to five million in five years.

Moreover, India’s fifth-largest private sector bank, with 630 branches across 375 cities, couldn’t ignore the customer shift to mobile banking while planning its strategies to enhance customer experience across branches. Hence, as part of its “DIGICAL-Digital + Physical” strategy—the blending of both offline and online channels leveraging innovation and technology—it began looking for a digital partner to build a scalable platform to host multiple applications.

Expressing concern over illegal Rs 6,000 crore transfer of funds through a Bank of Baroda branch, RBI Governor Raghuram Rajan said it will be pursued both by the central bank and investigative agencies to the “ultimate conclusion” to ensure that the guilty are made to “pay the price” for it.

He also said that if not pursued quickly, such frauds create an atmosphere of impurity which then breeds more such practices.

NEW DELHI: Shares of Reliance Industries rose over 1 per cent in morning trade on Friday ahead of its September quarter earnings, which will be announced post market hours today.

The oil & gas major is expected to report 3.2 per cent year-on-year (YoY) growth in net profit at Rs 5,926 crore for the quarter compared with Rs 5,742 crore reported for the year-ago quarter, said an ET Now Poll.

Shrugging-off positive global cues, the benchmark BSE Sensex fell 51 points to drop below the 27,000-level in early trade on Friday on profit booking amid exports falling for the 10th straight month in September.

Furthermore, profit-booking by participants after Thursday's gains, dampened sentiments.

Tata Motors, which had lost the tag of the country’s most valued automobile company to Maruti Suzuki in July this year, has added Rs 29,000 crore to its market capitalisation in the past 11 trading sessions.

This has come on the back of a 36 per cent surge in the stock price, triggered by improved outlook for sales of its Jaguar Land Rover arm. JLR, its luxury vehicle business, accounts for 83 per cent of the consolidated revenue. Maruti Suzuki, which has rallied almost 50 per cent in a year on improving market share and margins, has a market cap of Rs 132,306 crore (as on Thursday).

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