Ready to begin investing in stock markets with an exchange-traded basket of PSU stocks, Rs 6.5 lakh crore retirement fund manager EPFO has tapped state-run LIC to understand the contours of the equity investments.

The Employees' Provident Fund Organisation (EPFO) has also held discussions with the capital markets regulator Sebi in connection with the proposed investment of a part of its huge corpus in the revamped CPSE Exchange Traded Fund, which is likely to be launched in October, an EPFO official said.

Shares of Bank of Baroda declined over 2% to Rs 158 on the Bombay Stock Exchange (BSE) after the bank revised its rate of interest payable on term deposits.

The bank has decided to revise its rate of interest payable on term deposits below Rs 1 crore and Rs 1-10 crores respectively, effective from 8 June, 2015. The revised rates will be applicable to fresh deposits as well as renewal of existing deposits. The bank announced this decision on Friday 5 June, post market hours in a filing to the BSE.

Benchmark indices continue to trade lower weighed down by financials, auto and pharma shares. Investors sentiment are further dampened tracking weakness among global markets on the back of a firm US jobs data raising fear of Fed interest rate hike.

By 10:25, the Sensex was lower by 144 points at 26,624 and the Nifty dipped 50 points at 8,065. Among broader markets, BSE Midcap and Small indices are down between 0.4-0.6%.

HDFC Bank, second largest private sector lender in the country, will use biometrics technology to disburse automobile loans in 30 minutes. Earlier, the lender, whose loan book mostly consists of retail loans, had launched a loan product to disburse personal loans in 10 seconds.

The biometrics technology will be linked to applicants' Aadhaar card number, which will pull out the customer profile. The loan will then be approved with additional details. The product is available for HDFC Bank's depositors, as well as others.

Private sector lender YES Bank's shareholders have approved the re-appointment of Rana Kapoor as managing director and chief executive officer (CEO) for a period of three years. The shareholders also approved 11 other resolutions at the annual general meeting held on Saturday.

“The re-appointment was approved with a unanimous majority (99.97 per cent), excluding the vote of the shareholder, Madhu Kapur family,” said the bank.

World Consulting & Research Corporation (WCRC) has unveiled ‘Asia’s 100 Most Admired Brands’ list in Singapore that includes Honda, Hyundai, Samsung, Singapore Airlines, Emirates Airlines, Infosys, TCS, Alibaba.com.

Asia’s 100 Most Admired Brands is World Consulting & Research Corporation (WCRC) and ibrands360 research initiative involving the most significant brands from Asia.

Mumbai, June 5: Infosys today appointed R. Seshasayee as its non-executive chairman to replace K.V. Kamath, who has stepped down to take over as president of the new Brics bank.

Seshasayee, whose appointment is with immediate effect, has been an independent director on the company's board since January 2011 and is the chairperson of the audit committee.

Mumbai: The Bombay high court on Friday said two directors eligible for reappointment on the board of Yes Bank Ltd should not assume office till 18 June.

The appointments of Diwan Arun Nanda and M.R. Srinivasan as directors were among the resolutions put forward to the shareholders for the bank’s annual general meeting (AGM), which is to be held on Saturday. The order means both directors cannot assume office even if investors approve a fresh term.

South Korean car maker Hyundai Motor India is advancing the launch of its much awaited compact SUV Creta by a couple of months to take advantage of latent demand for the new product from the start of the festive season.

ET learns, Hyundai will be launching the vehicle on 21st of July and the start of production will happen within a fortnight, around 20th June, which is a good two months ahead of plan. The company has already realigned its production to make way for the new compact SUV.

State-run telecom company Bharat Sanchar Nigam Limited (BSNL) will sign its first agreement outside India to buy bandwidth from Bangladesh Submarine Cable Company to provide internet services in the northeast. It is also exploring South Africa for expansion, and may pick up equity stakes in one of the country’s telecom service providers.

Bangladesh Submarine Cable Company has agreed to sell its unused bandwidth to BSNL for $1.2 million a year. Initially, BSNL will buy 10 Gbps (Gigabits per second) capacity, which will be increased to 40 Gbps over time.

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