In an effort to move closer to customers and to empower them, the State Bank of India, India’s largest bank, launched a massive, customer friendly initiative, Tech Learning Centres (TLCs) across the country.

“TLC is a unique initiative to empower its customers through technology and awareness,” said Anshula Kant, Deputy Managing Director, SBI.

Aditya Birla group firm Hindalco Industries has won the Gare Palma IV/5 mine in Chhattisgarh by outbidding companies like BALCO, Sesa Sterlite, Ambuja Cements, which were also vying for the same block.

Gare Palma IV/5 mine was won by Hindaco Industries at Rs 3,502 per tonne. The mine was put on offer yesterday and the bidding for the block lasted for over 12 hours, a senior Coal Ministry official said.

There is much that has gone wrong in recent weeks for the Bharatiya Janata Party (BJP), lead partner of the Narendra Modi-led National Democratic Alliance (NDA) government at the Centre. It isn’t only the massive defeat in Delhi or the coming protests against its land acquisition ordinance, as it braces for a potentially tough Budget session of Parliament.

The BJP’s decades-old allies in the NDA, the Shiv Sena and Shiromani Akali Dal, are upset at not being consulted on key issues. The BJP finds itself in a tangle in Bihar with breakaway Janata Dal (United) Chief Minister Jitan Ram Manjhi.

The Securities and Exchange Board of India (Sebi) is considering keeping the stock markets open on Budget day. The Budget is set to be presented on February 28, Saturday, a market holiday.

Sebi will await a final cue from the finance ministry and an announcement is likely to be closer to the Budget day, said a person familiar with the developments.

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.

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