The engineering and manufacturing major, Bharat Heavy Electricals Limited (BHEL) will develop a 20 Mw solar power plant at Manamunda industrial estate in Boudh district.

“A letter of intent has been issued to BHEL which will develop the proposed solar plant. It will also operate and maintain the plant for a period ten years,” said an official of GEDCOL, the nodal agency for implmentation of renewable energy in the state.

Kotak Mahindra Bank's proposed Rs 459 crore deal to acquire 15 per cent stake in commodity bourse MCX on Monday got the approval of fair trade regulator CCI, making the financial sector conglomerate a major player in exchange business.

According to the Competition Commission of India (CCI) the proposed deal "is not likely to have an appreciable adverse effect on competition in India".

Alibaba Group Holding Ltd could have sold nearly $2 billion worth of stock without lifting a finger. All it had to do was list its shares on Nasdaq.

That listing would have guaranteed Alibaba inclusion in the Nasdaq 100 Index by the end of the year, and funds which track the index would have had to buy.

KOLKATA: The telecom department (DoT) is considering either de-listing Mahanagar Telephone Nigam (MTNL) and then merging it into Bharat Sanchar Nigam (BSNL), or listing the latter and finalising a merger swap ratio based on the valuation of the two state-run telecom companies, with the first being the more likely option, top government officials told ET.

MUMBAI: The State Bank of India (SBI) has emerged a surprise market leader in mobile banking, accounting for half of all mobile transactions in the country. Although traditionally new generation private banks and foreign banks have been the early adopters of alternative platforms, the 208-year-old Indian bank is preparing to leapfrog its customers directly from branches to mobiles as part of its strategy to reach out to the unbanked and decongest branches.

BANGALORE: Indian IT companies will be fiercely competing with MNCs for five big IT contracts in Australia valued at over A$2 billion (Rs 11,000 crore).

Infosys, Wipro, TCS and HCL Technologies are participating alongside IBM, HP and Capgemini in request for information (RFI) and request for proposal (RFP) for incremental IT outsourcing work coming from Sydney Water, Rio Tinto, Jetstar, Aurizon and Transport for NSW, said an Australian IT consultancy firm that did not want to be named.

Mumbai: Reserve Bank of India (RBI) governor Raghuram Rajan said on Monday there was a need to change the management appointment process in public sector banks to make it more transparent.

The central bank is in talks with the government to improve governance in public sector banks, Rajan told a banking conference. He said problems that have emerged in recent bank scandals were due to outsourced project evaluation.

Yes Bank has dipped nearly 3% at Rs 616 in early morning deals on NSE after the Reserve Bank of India (RBI) on Friday said the foreign investors will need the central bank's approval to buy additional equity in the private sector lender.

RBI said foreign shareholding limit in Yes Bank through FIIs/ Registered Foreign Portfolios Investors (RFPIs)/ NRIs/ Persons of Indian Origin/ Foreign Direct Investment/ American Depository Receipts/Global Depository Receipts has reached the trigger limit.

"What is Android One," asks a store manager at AndroidLand, one of the only four exclusive stores in the world for all things Android. Little does he know that, even as he speaks, Google Inc is giving finishing touches to one of its biggest projects around the mobile device - Android One. And, for the first time, a global launch by the company is being flagged from India - Android chief Sundar Pichai will on Monday unveil these smartphones, said to be priced at Rs 5,000 or less.

Despite rising revenue from India, information technology (IT) services major Tata Consultancy Services (TCS) remains cautious on the country.

The Mumbai-based firm, which registered revenue of $3.6 billion in the April-June quarter, saw its India business grow five per cent.

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