Mumbai: The 30-share bellwether BSE Sensex was trading marginally down ahead of Reserve Bank of India’s (RBI’s) bi-monthly policy due later on Tuesday.

RBI will release its monetary policy at 11am. RBI to maintain repurchase rate at 8% to shield the rupee from potential increases in US borrowing costs and sustain a fight against inflation, all 51 analysts in a Bloomberg survey predict. The government will also announce fiscal deficit data on Tuesday.

The rupee ended at near a seven-month low due to increase in US economic growth which fuelled concerns that the US Fed may start raising interest rates sooner. The rupee ended at 61.53 to a dollar, compared with its previous close of 61.16. The rupee had ended at 61.76 on March 5.

The US economy expanded at a 4.6 per cent annualised rate in the second quarter, the fastest since 2011, official data showed September 26 after the close of Indian markets.

State Bank of India (SBI), which has the highest exposure to private sugar mills in Uttar Pradesh in the form of working capital loans, has blamed the cane pricing policy in the state for the “high losses” incurred by mills and resultant cane arrears.

Almost 60 per cent of total working capital loans, estimated at Rs 10,000 crore availed of by the 95 private mills annually in Uttar Pradesh, are provided by SBI.

Stung by allegations of going easy in the Bank of Rajasthan (BoR) case, market regulator Securities and Exchange Board of India (Sebi) has shifted the blame on the Reserve Bank of India (RBI).

In a letter to the department of economic affairs (DEA), Sebi has said merger between the erstwhile BoR and ICICI Bank was approved by the banking regulator despite being "fully aware" of the "surrogate acquisitions" made by the former's promoter entities.

In July, when Tata group Chairman Cyrus Mistry identified defence & aerospace as one of the four clusters that could drive growth for the conglomerate over the next decade, he clearly had his eye on the estimated $250 billion (Rs 15 lakh crore) that the government would spend to purchase arms and equipment in this period. The other three clusters, in Mistry's view, were consumer goods, infrastructure and financial services.

Top SUV maker Mahindra & Mahindra (M&M) on Monday launched the refurbished version of its top-selling model Scorpio in the Uttar Pradesh market.

The ‘New Generation Scorpio’ is priced between Rs 8.37 lakh and Rs 11.99 lakh across its 7 variants. The UP SUV market is pegged at 12,000 units a month. M&M claimed to have the lion’s share of over 50 per cent in it.

The Odisha government has urged central PSUs — NTPC Ltd and Power Grid Corporation of India Ltd (PGCIL) to go ahead with the task of floating tenders for implementation of projects under the Rajeev Gandhi Grameen Vidyutikaran Yojana (RGGVY) in the 12th Plan period (2012-17).

The state government has also clarified its position on agency charges for implementing the projects.

Microsoft Corp is likely to boot the next version of the Windows operating system on Tuesday. In a high-profile event, Windows 9 is being flagged off by its global chief executive officer, Satya Nadella, from no other place than his home country, India. Code named 'Threshold', the event raises the bar for India by several notches, catapulting it to the big league for technology launches.

Barely two weeks ago, Microsoft's closest rival Google Inc unveiled its latest mobility project Android One from India. The launch was presided over by Google's vice-president Sundar Pichai, another India-born global executive.

Jeff Bezos was seen carrying a cheque for $2 billion at a road show in Bangalore.The founder of Amazon is on his second visit to India.

With competition heating up in the e-commerce space in India, Amazon is upping his ante as it competes with Flipkart and Snapdeal for market share.

Mumbai: Bank of Baroda on Monday said its board has approved a stock split wherein one existing equity share will be split into five, subject to regulatory approvals. With this, it is now the eighth bank this year to take the route to make its stock more affordable to smaller shareholders.

In its filing to BSE, Bank of Baroda said that in a meeting held on 27 September, the board had considered and given its in-principle approval to the bank for the sub-division of one existing equity share of face value of Rs.10 each fully paid up into five equity shares of face value of Rs.2 each fully paid up.

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