Banking shares continue under pressure, with the National Stock Exchange (NSE) Bank Nifty cracking over 5% or nearly 1,000 points in intra-day trade as the global markets crashed owing to concerns over economic slowdown in China, the world’s second largest economy.

Bank of India, Punjab National Bank, Canara Bank, Yes Bank, Bank of Baroda and Federal Bank are down more than 7% each.

Shares of oil and gas companies witnessed selling pressure with some of them hitting 52-week lows after concerns over sluggish economic growth in China led to sell-off in global commodities. Further, Iran's plans to boost crude oil production in an effort to boost market share also dampened sentiment.

NYMEX Crude Oil for Oct 2015 was nearing its 52-week low down 2.7% at $39.34 in electronic trade on Monday. Further,Brent crude for October was trading lower by 1.7% at $44.28.

Indian Oil Corp on Monday said all units at its 274,000 barrels per day (bpd) Koyali refinery in western Gujarat are running normally except the 44,000 bpd crude distillation unit (CDU), where a minor fire occurred during a planned maintenance shutdown.

"There has been no fatality; however there are five cases of injuries to employees of Gujarat Refinery," the company said in a statement issued on Sunday.

State-run Hindustan Petroleum Corporation Limited has registered its best ever performance since its formation in 1974 with profit of Rs 2733 crore for the financial year 2014-15.

The new profit also beats by a mile the company’s decade-high profit of Rs 1,734 crore last fiscal, said chairman and managing director Nishi Vasudeva. During FY2014-15, HPCL registered gross sales of Rs 2,17,061 crore, while earnings per share rose to Rs 80.72 and market capitalisation increased by Rs 11,500 crore.

Even as its peers make a beeline to open shop at the GIFT City, the country's second-largest lender HDFC Bank has said it is not keen to have a presence in the country's first international finance centre in Ahmedabad.

The Aditya Puri-led bank feels its presence in global IFCs like Dubai, Bahrain and Hong Kong is enough to take care of its overseas business.

State Bank of India, the country's largest lender with 213,000 employees, has roped in Harvard Business School for performance appraisal of its middle and senior management. All employees above the deputy general manager and up to deputy managing director's level now necessarily have to take 10-20 e-modules linked to their performance appraisal.

An employee can earn up to five points in the overall performance appraisal, which is of 100 marks, if they clear all the mandated modules. Training via e-modules has been made mandatory for SBI officers.

The best thing about Jeff Bezos, the founder, chairman, president and chief executive of Amazon, is that he doesn't give a hoot to what anybody else thinks. The worst thing about Jeff Bezos is that he doesn't give a hoot to what anybody else thinks.

Practically from the moment Amazon went public in 1997, Wall Street has pleaded with Bezos to generate more profits. He has ignored those pleas, and has plowed potential profits back into the company. Bezos believes that if Amazon puts the needs of its customers first -- and no company is more maniacally focused on customers -- the stock will take care of itself. That's exactly what has happened. That is the good side of Bezos' indifference to the opinion of others.

MUMBAI: A Reserve Bank of India panel has recommended conversion of Urban Cooperative Banks (UCBs), which have a revenue of more than Rs 20,000 crores into regular banks.

The recommendation has been made with the objective of allowing UCBs to grow and proliferate further for financial inclusion.

Apple is offering iPhone 6+ owners the opportunity to replace the iSight camera on their device for free, after the U.S. company found that “a small percentage” of models produce blurry images.

The issue, which is related to components inside the camera and does not extend to the iPhone 6, affects “a limited serial number range” that sold between its launch in September 2014 and January 2015. If you bought your Apple phablet between those dates, you can head over to this dedicated website and key in your phone’s serial number (find it here) to check whether your iPhone 6+ is affected.

San Francisco: Google and Twitter announced on Friday their partnership placing tweets in online search results has been extended to desktop.

Confirmation came in a tweeted exchange between the two US tech firms.

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