Karnataka Bank, on Friday, announced the appointment of Srikrishnan Harihara Sarma as the new managing director and chief executive officer (CEO) of the bank.

In a regulatory filing, the bank said, “The appointment is effective from the date of his assuming charge and will last for a period of three years. Karnataka Bank is confident that Srikrislman' s expertise and leadership will drive the bank towards continued growth and success”

In a major relief for ride-hailing firms Uber, Ola and Rapido, the Delhi High Court on Friday put a stay on government notice banning bike taxi services in Delhi.

A division bench of Justices Suresh Kumar Kait and Neena Bansal Krishna also directed the Transport Department to refrain from taking any coercive measures against Rapido and other ride-sharing platforms until a comprehensive policy is formulated.

In the latest attempt to cut down pesky calls and text messages, the Telecom Regulatory Authority of India (Trai) on Thursday granted two weeks to the principal entities (PEs) to verify headers and content templates for commercial SMS.

In a note, the regulatory body said, "PEs are required to get content templates registered with the access providers. Any commercial communication through SMS is subjected to scrubbing against the content template registered by PEs with the access provider and, if it fails, then such SMS is not allowed to be delivered to the consumer."

In the last 15 days, major dairies across North India and Maharashtra have cut the procurement price of milk by 10 per cent, but it is not expected to reduce the prices for retail customers, a report by The Economic Times (ET) said on Friday. However, it will allow dairy companies some legroom to not hike the prices for a few months to come.

The report cited several experts as saying that the delayed onset of summer has kept the demand for products like ice cream and buttermilk below the peak and has allowed the companies to release the hoarded stocks to meet the shortfall.

ITC’s market capitalisation (market cap) touched the Rs 5.50-trillion mark as the stock of the cigarette-to-hotel major touched a new high of Rs 443.85, rising 1 per cent on the BSE in Friday's intra-day trade.

With a market cap of Rs 5.51 trillion, ITC now ranks sixth in the overall market cap ranking, according to the data from BSE. In comparison, the S&P BSE Sensex was up 0.36 per cent at 62,098 at 10:01 AM.

The Centre will launch a special commemorative Rs 75 coin to mark the opening of the new Parliament building, the ministry of finance said in a notification on Thursday.

"The coin of seventy five rupees denomination shall be coined at the mint for issue under the authority of the central government on the occasion of inauguration of new Parliament building," it said.

Shares of Zee Entertainment Enterprises (ZEE) hit a 52-week low of Rs 175.80, down 2 per cent on the BSE in Friday’s intra-day trade after the media major reported a weak operating performance with earnings before interest, tax, depreciation and amortisation (Ebitda) down 70 per cent year-on-year (YoY) and 58.5 per cent quarter-on-quarter at Rs 151.70 crore in March quarter (Q4FY23). Ebitda margin declined to 7.2 per cent from 17.4 per cent in previous quarter and 21.8 per cent in a year ago quarter.

The advertisement revenues declined (amid weak ad spends), higher movie content and Zee5 costs impacted margins and one-off charges further exacerbating the bottomline pain.

Walmart-owned PhonePe said it has become the first digital payments app to successfully enable the linkage of two lakh Rupay credit cards to the Unified Payments Interface (UPI). In addition, PhonePe has also processed a Total Payment Value (TPV) of Rs.150 crore via Rupay Credit on UPI.

PhonePe aims to offer a comprehensive suite of solutions for Rupay Credit on UPI in partnership with NPCI to popularize its usage among customers and merchants alike. The company has already enabled the acceptance of Rupay Credit Cards on UPI across 12 million merchant outlets in the country, achieving the highest merchant penetration in the ecosystem.

Flix, an international mobility company, will launch operations in India and aims to run the first intercity green lines by early 2024.

Flix said in a statement it provides services in Europe, the Americas, and Turkey and will bring its "unique business model" to India, one of the largest bus markets in the world. It is forming a team in India for FlixBus and has appointed Surya Khurana as country managing director.

Adventure watchmaker Garmin on Thursday launched the Instinct 2X Solar and Instinct 2X Solar – Tactical Edition in India. The Instinct 2X range starts at Rs 33,490, and the pricing goes up to Rs 55,990 for the top-end model. The watches will be available for purchase online on e-commerce platform Amazon India, Tata CLiQ, Tata Luxury, Synergizer, Flipkart and Nykaa, and offline at Garmin stores and Helios watch stores.

Fitted with integrated LED flashlights, the watches come encased in a fiber-reinforced polymer case.

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