State Bank of India (SBI) is taking steps to clamp on bad loans that include web-based tracking of assets and “regular calls” to stressed accounts in the retail as well as real estate segments, Arundhati Bhattacharya, chairman of the country's largest lender, has said.

In addition, the bank has initiated “dynamic credit rating” review of borrowal accounts to capture deterioration in credit quality promptly and initiate corrective action and facilitate correct pricing of risk, she said in a message to shareholders ahead of the bank's July 2 annual general meeting.

The country’s largest private sector lender ICICI Bank, on Monday said it sees no impact of the Greek debt crisis on the bank as it had no exposure to Europe.

“We have no exposure in Europe and not made any finances to the companies there. So, the question of a Greek debt crisis impacting the bank, does not arise,” the bank’s managing director and chief executive Chanda Kochhar told reporters on the sidelines of its 21st Annual General Meeting. The situation might prompt Greece’s European partners to shut the door on extending a credit lifeline after the country’s surprise move to hold a referendum on bailout terms.

Wipro, India's third-largest IT services company, plans to harness opportunities in the technology space with a series of initiatives. In a letter to the shareholders in the company's annual report for 2014-15, Wipro Chief Executive Officer T K Kurien said the company would tap these opportunities backed by its twin themes - 'Run', which is about turbocharging the existing business, and 'Change', which focuses on preparing for the future. "We believe the twin themes will allow us to support our customer needs better and create a sustainable growth engine for ourselves," he said.

Telecom operator Reliance Communications (RCom) is in talks with American Tower Company (ATC) and Carlyle to sell a majority stake in its tower subsidiary Reliance Infratel in the current financial year.

In a clarification to BSE exchange over a media report that said ATC and Carlyle lead race for a majority stake in Reliance Infratel, RCom said, "The company has started a process to monetise the valuable tower and fibre assets held in its subsidiary, Reliance Infratel, within the current financial year."

After CEO Dick Costolo stepped down earlier this month, now Twitter’s VP of corporate development and strategy, Rishi Garg is leaving the company. Garg, who led the company’s M&A team, joined Twitter in May 2014, and before that he worked at Square as a head of corporate development. Square was founded by Twitter co-founder Jack Dorsey, who is incidentally now serving as the interim CEO of Twitter after Costolo’s resignation.

Shares of oil marketing companies (OMCs) were trading higher on the bourses in an otherwise weak market as oil prices fell on fears of a Greek debt default.

Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC) were up 1%-2% on the BSE compared to a 1.7% decline in the S&P BSE Sensex at 0939 hours.

MUMBAI: Tata Sons, owner of the Tata brand and promoter of Tata companies, has capped the royalty payment from group entities using the Tata name at Rs 75 crore. The cap on maximum royalty amount is aimed at reducing the burden on its large and profitable units and also freeing up cash for their growth. The move by Cyrus Mistry-led holding company for India's largest conglomerate, with a brand value of $21 billion, is in contrast with decisions by several MNCs to saddle their Indian arms with higher royalty payments.

Laid out in 1996, under an agreement titled Tata Brand Equity and Business Promotion (TBEBP), companies using the 'Tata' name have to directly shell out 0.25% of the annual revenue or 5% of the profit before tax, whichever is less.

NEW DELHI: India's Reliance Industries Ltd plans to shut a crude distillation unit (CDU) for a 10-day planned maintenance in the first half of July, it said in a statement on Monday, halving crude processing at its 580,000 barrels per day (bpd) refinery during the shutdown duration.

The export-focussed refinery at the Jamnagar complex in western Gujarat state has two crude distillation units of equal size.

CHENNAI: Chennai on Monday joined the league of cities like Delhi, Kolkata, Bengaluru, Mumbai and Jaipur which have metro rail systems.

Tamil Nadu chief minister J Jayalalithaa inaugurated Chennai Metro Rail Limited's passenger services between Alandur and Koyambedu. She flagged of a train through video conferencing from the secretariat. After that, a train left Alalndur station at 12.14pm and reached Koyambedu at 12.35pm.

Amazon.com Inc will launch its business loan program for small sellers later this year in eight more countries including China, where credit is becoming a key factor in competing for new vendors and grabbing market share.

Until now, the e-retailer has offered the service only in the United States and Japan. Amazon Lending, founded in 2012, now plans to offer short-term working capital loans in other countries where it operates a third-party, seller-run marketplace business, the head of Amazon Marketplace, Peter Faricy, told Reuters.

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