Tata Sons Chairman Emeritus, Ratan Tata will inaugurate the country’s largest technology incubator center ‘T-Hub’ in Hyderabad on September 7th 2015.

Jayesh Ranjan, Secretary, Information and Communications Technology confirmed in a statement saying, “Our Technology Incubation centre ‘T-Hub’ which is meant to promote start-ups and innovators is going to be inaugurated on September 7 by Rata Tata.”

Indian Railways has announced plans to set up 400 model stations across the country under the public private partnership (PPP) mode.

Railway Minister Suresh Prabhu, who met with West Bengal Chief Minister Mamata Banerjee at the State Secretariat here on Thursday, said that a joint venture company will be set up between the Central and State Governments for implementation of the project.

Shares of ITC advanced more than 4% on Thursday after US-based investment banking firm Morgan Stanley upgraded the rating, expecting a rise in cigarette volumes and likely hike in cigarette prices next month.

Even as benchmark indices ended down more than 1%, ITC shares settled at Rs 329 on the BSE, up Rs 12.35 or 3.9%–the highest single day jump since December last year as Morgan Stanley assigned an overweight rating on the stock from underweight.

Extending its losses, the Indian rupee was trading 47 paise down to trade 65.90 against the dollar on Friday at around 11.05 am following sustained capital outflows by foreign funds even as the US currency weakened overseas.

Earlier, the rupee fell by another 27 paise to trade at fresh two-year low of 65.81 against the dollar in opening trade.

KOLKATA | MUMBAI: IDFC Bank, which plans to begin business on October 1, has hired senior HDFC Bank executives to hammer out its retail strategy. Biju Pillai, Amit Kumar and Birendra Sahu — heads of HDFC Bank's different business verticals at the time of leaving the bank — will now spearhead IDFC's retail assets and card business, branch banking and overall retail operations, respectively, three people familiar with the development said.

IDFC did not have any retail footprint in its pre-banking avatar as it was engaged only in corporate lending. The infrastructure lending institution, where Housing Development Finance Corporation's chairman Deepak Parekh was a founder chairman, will soon compete with HDFC Bank and ICICI for the retail business pie.

NEW DELHI: The S&P BSE Sensex plunged over 450 points in trade on Friday, tracking weak trends across global markets.

The 50-share Nifty index slipped below its crucial psychological level of 8250.

State Bank of India, the country’s largest lender, will open 250 digital branches.

“Digital provides us such a good medium. On one side we have the business correspondent model, then the digital medium for new-age customers who are coming in and then, in between, we have the branch model. We have started the digital branch model and the learnings from them, and ill be rolling out another 250 digital branches this year that will be on the self-service mode,” said Arundhati Bhattacharya, the bank's chief, at an internal conclave here.

ICICI Bank, the country’s largest private sector lender, has said it will be keenly watching the progress made in the payments banks space before deciding on a tie-up.

“We'll watch the progress in both and will continue to move forward, we have tie up with Fino and Vodafone,” said Chanda Kochhar, managing director and chief executive officer of ICICI Bank.

Infosys, India’s second largest information technology (IT) services company, on Thursday launched three new services which, it said, would work as a catalyst in positioning it as a next-generation services company. The three initiatives together would be known as ‘Aikido’, name of a popular Japanese martial art.

‘Ki’, the first of the three services, stands for knowledge-based IT, which captures the knowledge within an organisation, its people, structure and systems over a long period of time.

Maruti Suzuki, the country's largest automobile maker, has raised prices by Rs 3,000 to Rs 9,000 across products, barring the recently launched S-Cross.

The increase became effective August 11. The increase comes after a gap of nearly two years. When the company hiked prices in January this year, it was on account of an increase in excise duty.

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