To increase its base of wealthy customers, Axis Bank, the third largest private sector lender, has launched a new service.

Named Burgundy, it will offer services like no-limit credit cards and a multi currency foreign exchange card, among others. Customers with a relationship value of at least Rs 30 lakh will qualify. Of the existing base, 40,000 account holders come in this. In the next 12 to 18 months, it aims to add another 75,000-100,000 customers in this segment.

Microsoft on Wednesday launched its most affordable Lumia smartphones in Uttar Pradesh, which, it said, was the biggest smartphones market in India.

The Uttar Pradesh smartphone market is pegged at rougly 700,000 units a month. The devices Microsoft Lumia 532 and Microsoft Lumia 435 are priced at Rs 6,499 and Rs 5,999, respectively, Microsoft subsidiary Nokia India Director (East) Kislay Kumar said here.

State-run Oil and Natural Gas Corporation (ONGC), the country's largest exploration and production company, is trying to get offshore drilling service providers to cut their prices.

The slump in oil prices has prompted it to seek lower rates from these drillers. At high rig rates and less realisation from crude oil, it would be difficult for ONGC to clock profits. Rates for offshore drills are down 15-20 per cent.

With a spate of new models slated to rollout, South Korean car maker Hyundai aims to touch annual volumes of half a million units within two years, a top executive at its India unit said on Wednesday.

The company, which started local sales in 1998, is currently the second largest in the segment here, after Maruti Suzuki, and also the largest car exporter. It is yet to decide on setting up a second domestic production facility after the first near Chennai, despite having negotiated with several states like Rajasthan and Gujarat for potential investments.

Argentina-based OLX, online platform for local classifieds, aims to start monetising this in India next year, said Amarjit Batra, chief executive officer of its arm in this country.

The company will start offering priority space for premium listings at a cost. So far, OLX is a free website for local classifieds in India. “Paid classified postings and premium listings are two proven routes we have availed in some countries, among other avenues. We’ll be starting these in India early next year,” said Batra.

Tata Consultancy Services (TCS), India's largest information technology services provider, announced on Wednesday it had partnered Startupbootcamp FinTech, an accelerator, to host Pitch Days in India.

The Pitch Days will be on the TCS campuses on Tuesday in Mumbai and next Thursday in Bengaluru. The one-day events will be open to early-stage start-ups in the financial technology sector.

BENGALURU: Wipro's investments in next gen programmes, overseen by Rishad Premji's strategy office, could soon be spun off into a separate entity.

Called H2H3 (Horizon 2, Horizon 3), the programme operates like an in-house incubator and fund, identifying potent ideas that have the potential to scale up over a two- or three-year timeframe and generate substantial revenues.

Mumbai: India’s Reliance Industries Ltd and seven other firms including top mobile phone operator Bharti Airtel Ltd have applied to participate in next month’s auction for mobile phone airwaves, several people directly involved in the process said.

Others firms which have submitted applications for the auction that will start on 4 March include the local unit of Vodafone Group Plc, Reliance Communications Ltd, Idea Cellular Ltd, and Tata Teleservice Ltd, the people said.

Air India is alleged to have been “compromising” with flight safety norms by using a DGCA waiver on minimum cabin crew requirement on some of its long haul flights, a charge denied by the national carrier.

Air India, which is facing acute shortage of cabin crew, declares one door ‘unserviceable’ on some of its long-haul flights, which lowers the crew requirement. And it happens mainly on flights to New York and Chicago, where it operates most of its flights with 11 crew as against a requirement of 14, crew members, who requested anonymity, said here.

Seeking to regain its lost market share in the mid-sized sedan segment, Hyundai Motor India Ltd (HMIL) today launched an updated version of Verna, priced between Rs 7.74 lakh and Rs 12.19 lakh (ex-showroom Delhi).

The model, which competes with Honday City and Maruti Ciaz, will be available in both petrol and diesel options and have ten variants.

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