India’s largest software exporter, Tata Consultancy Services (TCS), is in talks with nine of the 11 payments bank licence holders to offer operational solutions, according to a highly placed source at the company.

“We have a solution for payments banks and are taking it to the Indian market,” confirmed N Chandrasekaran, managing director, during an interaction.

Continuing to fall for the second straight session on Wednesday, shares of Infosys lost over 2 per cent, after the company slashed its dollar revenue guidance for the current fiscal.

Shares of the software services major fell by 2.12 per cent to settle at Rs. 1,098.65 on BSE. During the day, it dipped 3.15 per cent Rs. 1,087.10. At NSE, the stock slipped 2 per cent to close at Rs. 1,099.40.

With over $5 billion worth investment in 2015 and three to four startups emerging every day, India has paved its way to secure the third position in the world in terms of the number of startups, 4200 and counting, a growth of 40%, by the end of 2015.

The latest report by industry body NASSCOM and Zinnov, analyzes the current scenario and emerging trends across the various dimensions that define the Indian startup ecosystem, and gauge India’s position as a global startup hub that is becoming attractive for investors, startups, & corporates.

German Luxury car maker Mercedes-Benz on Wednesday launched in India SUV GLE that will be produced locally with starting price of Rs 58.90 lakh (ex showroom Delhi) to enhance its position in the market in New Delhi.

The GLE will be available in two variants -- 250d with a 2,143 cc diesel engine priced at Rs 58.90 lakh, and 350d which is powered by 2,987cc diesel engine priced at Rs 69.90 lakh (all prices ex-showroom Delhi).

Government today approved payment of Performance Related Pay to executives and non-unionised supervisors of Coal India Ltd (CIL) and its subsidiaries.

The Cabinet has approved the recommendations of the Committee of Secretaries to regularise the 2007 Pay Revision implemented by CIL with effect from January 1, 2007 in the loss making subsidiaries, an official release said.

New Delhi: The Enforcement Directorate (ED), which investigates foreign exchange violations, on Tuesday arrested four people in connection with the suspected transfer of black money from Bank of Baroda accounts to entities based in Hong Kong and the United Arab Emirates (UAE).

Separately, the Central Bureau of Investigation (CBI) arrested an assistant general manager and another official dealing with foreign exchange at the bank’s Ashok Vihar branch in New Delhi.

In one of the biggest cyber crimes in Mumbai, the Oil and Natural Gas Corporation Limited (ONGC) lost Rs 197 crore after cyber criminals duplicated the public sector firm’s official e-mail address with minor changes and used it to convince a Saudi Arabia-based client to transfer payments to their account.

The fraud was committed on the promise that the company making the payment would not notice a minor change in the e-mail address of the ONGC representative, with whom they had been communicating.

NEW DELHI: A serious miscommunication between IGI airport's air traffic control (ATC) tower and Air India pilots on Tuesday morning saw some tense moments and led to a close shave for two aircrafts. An incoming flight was asked to go around after the safety distance area of the runway it was to land on was breached by another plane waiting to take off.

Around 10.15am, an IndiGo Airbus A-320 was on its final approach to Delhi. At the same time, an Air India Boeing-777 was taxiing to the runway to operate a special Haj flight to Srinagar.

Seoul: Tech giant Samsung Electronics Co. unveiled the second smartphone powered by the its own Tizen operating system on Wednesday, its latest bid to increase the popularity of its own software ecosystem.

Samsung said the Z3 will go on sale in India on 21 October for Rs.8,490. While this is more expensive than the Rs.5,700 launch price for its predecessor, the Z1, the new phone offers better hardware including a faster processor, a higher quality screen and improved cameras.

State Bank of India (SBI) has received in-principle approval from the Reserve Bank of India (RBI) to form a subsidiary to manage the real estate assets of the country’s largest lender. In the long run, banks may monetise these assets.

Ashwini Mehra, its deputy managing director and corporate development officer, said the bank has about 44 million square feet of owned assets and 50 million square feet of rented properties. Properties owned by the bank, valued at over Rs 23,000 crore, would continue to be housed on SBI’s balance sheet.

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