The Supreme Court on Thursday asked the Centre to clarify whether it will continue with the previous UPA government policy on gas pricing mechanism or it has its own policy in view of a four-member committee of secretaries having submitted its report recently on the issue.

A Bench headed by Justice TS Thakur asked solicitor general Ranjit Kumar to clarify whether the government is going to change the C Rangarajan pricing formula notified in January that doubled the gas price to $8.4 per million British thermal unit or come with its own pricing formula.

NEW DELHI: Export-Import Bank of China (China Exim Bank) and China Development Bank Corporation (CDB) today signed various agreements with SBI, ICICI Bank BSE 0.00 % and Axis Bank BSE -1.54 % to facilitate trade between the two countries.

SBI signed an agreement with China Exim Bank for a Line of Credit of $ 1.8 billion for imports of raw material, energy, equipment, mechanical and electronic products, among others from China.

In the backdrop of the stand-off between Chinese and Indian armies in Ladakh, President Pranab Mukherjee today expressed hope that both the neighbours will ensure an "error-proof" dialogue mechanism for maintaining peace and tranquility at the borders. Hosting a banquet in honour of visiting Chinese President Xi Jinping, Mukherjee said, "Our nations share a desire for early resolution of the outstanding issues between our States - including the boundary question. We are both committed to the maintenance of peace and tranquility at our borders; we both would like to ensure that the dialogue mechanisms that we have created for this purpose are error-proof."

The country’s largest lender, State Bank of India (SBI), has emerged as the leader in mobile banking with 50 per cent market share in this segment.

“SBI, with 11.5 million registered mobile banking customers, has become the indisputable market leader in this segment and way ahead of the nearest competitor in the market with 50 per cent market share,” the bank said. The bank attributed the numbers to Reserve Bank of India (RBI) data.

State-owned Bharat Heavy Electricals Ltd (BHEL) has bagged an order worth over Rs 3,500 crore for setting up a thermal power project in Gujarat. The contract has been awarded by the Gujarat State Electricity Corp Ltd.

In a statement on Thursday, BHEL said the Rs 3,536 crore order is to set up an 800 MW super critical thermal plant at Wanakbori in Kheda district.

Clients see Tata Consultancy Services (TCS) as the only local information technology (IT) company strong on two important parameters, implementation and innovation, said a study.

It was conducted by America-based HfS Research and KPMG last month. The annual survey, state of services & outsourcing, covered 312 global clients, 347 advisors and consultants, and 420 participants from the companies that manage IT and business operations.

Infosys on Thursday said it had widened collaboration with Microsoft and Hitachi Data Systems, in line with chief executive Vishal Sikka's vision to strengthen software offerings and expand global alliances.

These partnerships will help India's second largest information technology (IT) services company to improve offerings in new technology areas like cloud computing, big data and analytics, and also in communication and infrastructure and data centre transformation solutions.

NEW DELHI: Chinese President Xi Jinping on Thursday expressed the hope that China and India will take their strategic and cooperative partnership to a higher plane.

He said he had come to India with three goals which were aimed at strengthening the bilateral ties and building strong complementarity in the two economies.

State Bank of India’s (SBI’s) long-term deposit rate cut is another indication that the markets may be leaping too far ahead in discounting an economic recovery. SBI executives made the usual round of television studios explaining the cut: sufficient liquidity in the inter-bank money market, a slight slowing of inflation and the fizzling out of credit growth.

The increase in credit in the year-ending 5 September is just ​55% of the rise in deposits. This indicator called the incremental credit-deposit ratio (ICDR) is at its lowest level in at least 14 months. That’s not surprising considering that credit growth has slipped to 9.​68%, the lowest in five years.

Hyundai Motor Group will pay a record $10 billion for the site of its new headquarters in Seoul's high-end Gangnam district, out-bidding Samsung Electronics Co Ltd and raising investor concerns that it is wasting cash on a trophy property.

The conglomerate smashed the previous record auction price for a single plot of land in South Korea with its bid of 10.55 trillion won ($10.14 billion), more than triple the appraisal value.

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