SAIF Partners, the VC firm worth $4 billion under management has announced the appointment of Alok Goel as the Managing Director. Alok was previously heading FreeCharge.in as the CEO and was the COO of redBus.in prior to that. He is well-known in the industry for closing two of the biggest M&A in the Indian internet ecosystem with the acquisition of Freecharge by Snapdeal and redBus by Naspers. At SAIF Partners, Alok will supervise early stage investments.

To offer convenience to customers, Uber has started accepting credit card payments in India again after it was forced by local legislation to switch to a mobile wallet payment system last November.

This payment option shall be rendered in partnership with MobiKwik, along with support for debit cards.

Government is meeting stiff resistance in its drive to make the buying of gold jewellery more transparent and to channel demand into paper gold to stop the metal being used to hide billions of dollars of undeclared ‘black money’.

The jewellery trade says the Narendra Modi government’s plans to trace gold deals is unworkable and won’t deter holders of black money, or hundreds of millions of Indians outside the tax net, from buying gold to keep their wealth away from the prying eyes of the authorities.

The BSE Sensex has turned flat after opening over 120 points up in morning trade on Monday. Sensex had surged by nearly 130 points in early trade on continued buying by investors amid hopes of rate cut by the Reserve Bank after weak IIP numbers. Nifty recaptured the 8,400-mark by rising 44.25 points, or 0.52 per cent, at 8,404.80.

At 10.13 am, Sensex was up 13.92 points at 27,675.32. Similarly, Nifty was up 4.45 points at 8,365.00 during the same time.

The Supreme Court has dismissed liquor baron Vijay Mallya's plea seeking quashing of criminal proceedings against him in a case pertaining to violation of foreign exchange rules.

A bench headed by Justice J S Khehar also imposed Rs 10 lakh as costs on Mallya in the case.

Tata Motors has bagged an order for supplying around 1,200 high-mobility 6X6 multi-axle trucks from the Indian Army - the single largest order awarded to an Indian private original equipment manufacturer (OEM) in land systems under the DPP by the Indian army. The order for 6X6 vehicles is for ‘material handling cranes’ for the loading-unloading and transportation of ammunition pallets, spares and other operational equipment.

Developed indigenously, the Tata 6X6 high mobility all-terrain all-wheel drive vehicle, has completed a total trial duration of 25 months, demonstrating maximum performance in the most demanding conditions.

Wipro's plan to acquire Denmark-based strategic design firm Designit was seen positively by the Street. The acquisition will enable Wipro to strengthen its presence in the promising digital segment. Notably, most Indian IT companies believe digital is the next big growth driver for the sector and are stepping up their efforts to bag deals in this segment.

Wipro targets revenues worth $1 billion from its digital arm - 'Wipro Digital' and this acquisition will be a key step to achieve this. The deal is priced between 60-89 million euros and values Designit at 2-3 times its CY14 Enterprise Value to Sales, estimate analysts.

Bharat Petroleum Corp Ltd plans to expand its Bina oil refinery in Madhya Pradesh by 30% to 156,000 barrels per day at a cost of about $472 million, its chairman S Varadarajan told Reuters on Monday.

The expansion of the refinery, operated by a joint venture of BPCL and state-owned Oman Oil Co in Madhya Pradesh, will be completed by 2018, he said.

The civil aviation ministry is making efforts to secure about Rs 2,400 crore for Air India through supplementary budgetary allocations and recovery of dues worth Rs 600 crore, related to use of its planes for VVIP travel. Of the total, about Rs 1,800 crore is being sought to meet the funding shortfall faced by the cash-strapped government carrier.

Efforts are being made to secure funds for Air India as the supplementary demands of ministries would be considered during the coming monsoon session of Parliament beginning July 21.

Google engineers have cooked up a new way for Gmail spam filters to learn what mail you want and what you don't. It involves 'large scale brain simulations'.

In a post on the Gmail blog, product manager Sri Harsha Somanchi wrote that less than 0.1% of the email in an average Gmail inbox is spam, and the false positive rate is even lower - at just 0.05%. "Even still, Gmail spam detection isn't perfect," he said.

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