Banks in India are gearing up to further enhance their Know Your Customer (KYC) protocols by integrating additional verification layers aimed at bolstering the identification of both accounts and account holders, according to a report by the Economic Times. Financial institutions are devising plans to upgrade all existing accounts, with particular attention directed towards those tethered to a single phone number that is associated with multiple or joint accounts.

Additionally, banks are poised to demand heightened verification from individuals maintaining multiple accounts opened with varying sets of documentation.

Exicom Tele-Systems (Exicom) made a healthy stock market debut with its shares listing 85 per cent higher at Rs 270.30 against its issue price of Rs 142 per share on the BSE on Tuesday. The stock was listed at Rs 270 on the National Stock Exchange (NSE).

Post listing, the stock moved higher to Rs 274.30, a premium of 93 per cent over the issue price. At 10:02 am, it was quoting at Rs 271.50 on the BSE. In comparison, the S&P BSE Sensex was down 0.39 per cent at 73,586.

Shares of IIFL Finance slumped 20 per cent to the lower circuit on BSE at Rs 595 in Tuesday's intra-day trade after the Reserve Bank of India (RBI) barred the NBFC from sanctioning or disbursing gold loans or assigning/ securitising/ selling any of its gold loans.

The regulator has, however, allowed IIFL to service its existing gold loan portfolio through the usual collection and recovery processes.

Indian automaker Tata Motors plans to demerge into two separate listed companies to refine focus on the passenger and electric vehicle segments, it said in an exchange filing on Monday.

The commercial vehicles business and its related investments will be spun in one entity and the passenger vehicles (PV) businesses, including electric vehicles (EV), Jaguar Land Rover and related investments, in another entity.

Shares of state-run industrial minerals player MOIL Ltd rallied 12 per cent intra-day on BSE in Monday's session after the company reported a 15 per cent year-on-year (YoY) jump in Manganese (Mn) ore output for February at 1.51 lakh tonnes.

The recorded output was also its best ever seen in February. Moreover, for April-February, the production of Mn ore has been 15.84 lakh tonnes, which also marks the highest ever output in a financial year, it said. This is up 37 per cent YoY.

Apple Inc and Samsung, along with their contract manufacturers in India, are set to receive more than Rs 4,400 crore in incentives for meeting production targets in the financial year 2023 under the government's production-linked incentive (PLI) scheme for smartphones, according to a report by the Economic Times (ET). The beneficiaries also include Foxconn (Hon Hai), Wistron (now owned by Tata Group), Pegatron, Samsung, and Dixon Technologies, a homegrown electronics company.

The general secretary of the Punjab Kisan Mazdoor Sangharsh Committee, Sarwan Singh Pandher, said on Monday that the decision to March towards Delhi has not changed.

The farmer leader said that the groups of farmers will remain at the Shambhu and Khanauri borders till the government opens the roads to Delhi.

A seven-judge bench of the Supreme Court (SC) ruled that lawmakers, including Members of Parliament (MPs) and Members of Legislative Assemblies (MLAs), can be prosecuted under the Prevention of Corruption Act if they receive monetary benefits for their votes and speeches in Parliament or Assembly. This decision overturns the 1998 verdict of the apex court in the PV Narasimha Rao case.

A seven-judge constitutional bench led by the Chief Justice of India, DY Chandrachud, unanimously overturned the 1998 judgement delivered by a five-judge bench in the JMM bribery case.

Two schools in Tamil Nadu, the PSBB Millennium School in Coimbatore and a private school in Kancheepuram district, received bomb threats, causing alarm among students, teachers, and parents, a report by India Today said.

The PSBB Millennium School received a threatening email on Sunday night, while the private school in Kancheepuram received a hoax call on Monday morning.

Flipkart Internet, the marketplace arm of the Walmart-owned e-commerce giant Flipkart, has received a significant cash injection of approximately Rs 924 crore ($111 million) from its related entities based in Singapore. Regulatory filings with the Registrar of Companies (ROC) revealed that this infusion occurred in two parts during January.

Flipkart operates multiple units in India, encompassing various businesses such as logistics and the e-commerce marketplace.

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