State Bank of India, the country’ largest lender, has now launched two new savings bank accounts for children — Pehla Kadam and Pehli Udaan.

This comes after the Reserve Bank of India in May this year allowed minors aged more than 10 years to open and operate savings bank accounts independently.

The government's plan to pool imported coal in the event of the Supreme Court cancelling all coal block allocations might make smaller units suffer, while large players such as NTPC could benefit from it.

"NTPC is already blending imported coal with domestically-procured coal. So, if the government pools imported coal to make up for the domestic scarcity, it will benefit us. Hopefully, the pooled price offered by the government would be lower than our current pooled price," said an NTPC official.

GenNext Ventures, the venture investment management arm of Reliance Industries Ltd (RIL), and Microsoft Ventures have signed a three-year partnership to set up GenNext Innovation Hubs, an initiative to ease the country’s start-up ecosystem.

A memorandum of understanding was signed by GenNext Ventures chairman and RIL board member R A Mashelkar and Microsoft India Chairman Bhaskar Pramanik.

Ford India, a subsidiary of Ford Motor Company, expects its plant at Sanand in Gujarat to start output by next year.

“The facility is coming up well. We expect to see the prototype by 2014-end and production by next year,” said Nigel Harris, president. He was speaking on the sidelines of Ford’s corporate social responsibility initiative Happy School here.

Maruti Suzuki India Ltd (MSIL) Chairman R C Bhargava said the company will start work on its Gujarat project before the end of this year.

“Some work is on. We are waiting for minority-shareholder approvals.” He was in Gandhinagar on Friday with parent company Suzuki Motor Corporation (SMC) Chairman Osamu Suzuki, who met new Chief Minister (CM) Anandiben Patel.

Along with a new flagship Moto X, Motorola is taking the wraps off its new Moto G today, and the new version of its affordable smartphone continues to be one of the best values in modern mobile devices.

Motorola’s new mid-range phone offers a larger 5-inch display with 1280×720 resolution for 294 ppi pixel density, a Qualcomm Snapdragon 400 quad-core processor clocked at 1.2GHz, Corning Gorilla Glass, with Android 4.4 and a guaranteed update to Android L when that becomes available. It has both single SIM and dual SIM variants, with 8GB and 16GB storage options, and a brand new removable microSD slot which supports cards of up to 32GB.

New Delhi: The Employees Provident Fund Organization (EPFO) is likely to launch its scheme to make provident fund numbers portable ahead of schedule on 23 September, a move it believes will help it “turn the corner” as a retirement fund manager for millions of salaried employees.

Its implementation, the labour ministry believes, will mark a “paradigm shift” for workers who save 12% of their basic salary (excluding perquisites and allowances) every month through EPF scheme as post-retirement savings. The employer has to make a matching contribution.

Mumbai: Bangalore-based Wipro Ltd, India’s third largest software services exporter, has won a five-year contract with cigarette maker Philip Morris International Inc.

As a part of the agreement, Wipro will support a host of functions at Philip Morris, including management and support of its servers, storage, backup and applications infrastructure.

Teachers “tirelessly light the lamp of knowledge”, said Prime Minister Narendra Modi Friday, a day that is celebrated as Teacher’s Day.

Mr. Modi tweeted: “Teachers’ Day greetings! We salute all teachers, who tirelessly light the lamp of knowledge.”

MUMBAI: ICICI Bank has brought back fixed-rate mortgages. The bank is offering home loans up to 10 years at a fixed rate of up to 10.25%, which is close to 10.15% it charges its floating-rate customers. The move is aimed at locking into a sizeable home loan portfolio which can be funded by floating infrastructure bonds.

Market leader HDFC offers partially fixed-rate loans where rate is set at 10.25% for first two years, which is close to pricing of its floating-rate loans of 10.15%.

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