Infrastructure major GMR has decided to shift its group headquarters from Bengaluru to Delhi. The plan will entail relocation of the group’s corporate offices for its energy, airports and highways & urban infrastructure businesses to the national capital.

The move will help the group synergise its operations, currently in Nagpur, Raipur, Bhubaneswar (power business), Hyderabad and Delhi (airports). The group at present does not have any operating project that its could oversee in Bengaluru.

HONG KONG: Reliance Industries BSE 0.03 % has selected 11 banks for a 144A/Reg S US dollar-denominated bond offering, which could hit the markets as early as tomorrow.

ANZ, Bank of America Merrill Lynch, Barclays, BNP Paribas, Credit Agricole, Deutsche Bank, HSBC, JP Morgan, Morgan Stanley, RBS and Standard Chartered are among the banks mandated.

Indian companies rarely welcome back former employees with open arms. HDFC Bank, however, thinks otherwise. The country's second largest private sector lender has introduced a new employee recruitment programme – Khoj – that aims to bring back former employees.

"We never had a policy that prevented us from re-employing former workers. But now we are putting a lot more emphasis on our re-hire policy. The bank's businesses are growing fast and we have a huge manpower requirement. We realised that a number of people, who have previously worked with us, want to join back. Hence, this programme has been introduced," Philip Mathew, chief people officer at HDFC Bank, told Business Standard.

ITC, a fast moving consumer goods (FMCG) major, has become the second-most valuable Indian company, surpasses refineries giants- Oil and Natural Gas Corporation (ONGC) and Reliance Industries - in overall market capitalization (m-cap) ranking.

ITC with a m-cap of Rs 3,15,797 crore at 1014 hours, was climbed to number two position ahead of ONGC and Reliance Industries having m-cap of Rs 3,14,842 crore and Rs 3,09,596 crore respectively. Information technology giant Tata Consultancy Services (TCS) is at number one position with Rs 495,479 crore m-cap.

Shares of Infosys have dipped 4% to Rs 1,993 after a huge block deal executed on the counter on the National Stock Exchange (NSE). The stock opened at Rs 2,019 and touched a low of Rs 1,988 on NSE.

A total 32.3 million shares representing 2.8% of total equity of Infosys changed hands in multiple block deals in early morning trade. However, the identity of the buyers and sellers could not be yet ascertained.

To help channelise household savings and provide a new investment avenue, market regulator Securities and Exchange Board of India (Sebi) will soon come out with a new set of norms to enable issuance and listing of municipal bonds - a popular financial product in developed countries.

Under the proposed framework, currently under consideration of Sebi, municipal bonds would be debt securities issued by states, cities and other government entities which will use the money for infrastructure developments such as buildings, schools, highways, hospitals, sewage systems and other projects for the public good. An internal Sebi panel, the Corporate Bonds and Securities Advisory Committee (CoBoSAC) had constituted a sub-committee to specify the disclosure and other requirements for issuance and listing of municipal bonds.

If you need to transfer money from, say, your YES Bank account to a customer of Union Bank of India, you can now do so through your debit card, by visiting an automated teller machine (ATM). Union Bank of India, Canara Bank, Andhra Bank, Saraswat Co-operative Bank and YES Bank have come together to allow inter-bank fund transfers through debit cards.

“For this card-to-card transfer, a customer has to go to the ATM and just punch in the debit card number of the person to whom he or she wishes to transfer money. You have to type the 16-digit debit card number of that person in the ATM and the amount you want to transfer. Immediately, once you confirm ok, your account gets debited and the other person’s account linked to the card gets credited. This is an instant fund transfer,” said a senior Union Bank of India official, explaining the transfer process.

Maruti Suzuki India Ltd (MSIL) recently got its single largest order, of a little over 4,000 units of its sports utility vehicle, the Gypsy, from the Indian Army.

The company declined to disclose the deal’s financial value, as the contract was finalised through central government tendering. The rate at which vehicles are being supplied to the army is different from the sale price in the domestic market. However, as the Gypsy’s ex-showroom price is Rs 5.42-5.96 lakh in this city, the order should be Rs 216-238 crore.

State Bank of India (SBI) has said the final decision on the controversial $1-billion (Rs 6,200 crore) loan agreement with Adani Group for its Australian mining project would be taken by the executive committee of the bank in two to three months.

SBI had last month signed the pact with Adani Group on the sidelines of Prime Minister Narendra Modi’s visit to Australia.

A day after terror strikes rocked the Kashmir Valley, Prime Minister Narendra Modi today said terrorists tried to attack Indian democracy but brave jawans sacrificed their lives protecting the country's security.

The Prime Minister also paid tributes to martyrs who laid down their lives while fighting militants.

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