Billionaire Ajay Piramal's shadow banking unit has borrowed Rs 11 billion ($153 million) from Barclays Plc to refinance part of its existing debt and extend new loans, according to people familiar with the development.

While the rate of interest is 7.5 per cent on the four-month loan deal signed last week between Piramal Capital & Housing Finance Ltd.

TVS Motor has reported a 26.52 per cent drop in domestic two-wheeler sales during November, to 191,222 units from 260,253 units the same month a year ago, owing to huge pressure is its scooter segment.

The company has attributed the decline to the advancing of the Diwali season by a month and the planned adjustment of BS IV stocks.

Bajaj Auto on Monday reported a marginal dip of 0.9 per cent in total sales at 403,223 units in November this year.

The company had sold 406,930 units in the same month a year-ago.

While the transport ministry has given a two-week extension to the roll-out of electronic toll collection - FASTags - across the national highways, tech companies and service providers are all set to switch to this mechanism.

Several tech companies said sales of FASTags have almost tripled in the last few days. Service providers have also bolstered their backend tech to tackle any sort of lag caused by surge in usage of these at toll booths.

Finance Minister Nirmala Sitharaman said the statement by Rahul Bajaj, chairman of Bajaj Group, on Saturday that India Inc was afraid of criticising the Narendra Modi government can hurt national interest, if it gains traction.

The Home Minister Amit Shah answers on how issues raised by Bajaj were addressed. Questions/criticisms are heard and answered/addressed. Always a better way to seek an answer than spreading one's own impressions, which, on gaining traction, can hurt national interest, Sitharaman said on Twitter.

National Stock Exchange (NSE) on Monday suspended the license of Karvy Stock Broking with effect from today (December 2, 2019) due to non-compliance of the regulatory provisions of the Exchange.

In a circular, the exchange informed that the brokerage firm has been suspended from capital market, Futures & Options (F&O), Currency derivatives, Debt, Mutual Fund Service System (MFSS) and commodity derivatives segments.

The list of holidays is not only important to plan some leisure activities but also for other important tasks. For example: When can we visit a bank and when will it be closed. While the bank holidays vary with each state and also with each company, the Reserve Bank of India (RBI) has set some fixed days when the banking operations will close.

All public sector and private banks will remain closed on Republic Day (January 26), Independence Day (August 15) and Gandhi Jayanti (October 2) besides some other festivals.

In a bid to control the skyrocketing prices of onion in the retail market, the Narendra Modi led BJP government will import 11,000 Metric Tons (MT) of onion from Turkey in addition to 6,090 MT from Egypt.

According to the Ministry of Consumer Affairs, the Metals and Minerals Trading Corporation of India (MMTCI0) has placed the order on Centre's behalf, which will start reach India later this month.

With the highest annual package of over $164,000, or Rs 1.17 crore, this year, IT giant Microsoft has continued its streak of emerging as the top recruiter on Day One of final placements at the Indian Institutes of Technology (IITs).

Older as well as some newer IITs kicked off their first phase of the final placements process in two slots on Sunday.

In the heart of New Delhi's largest wholesale bazaar, merchants who normally compete with each other have united against a common enemy.

Amazon, Flipkart! one merchant after another shouts into a microphone from a small stage in Sadar Bazaar's central traffic circle. Some 50 other shopkeepers gathered around shout back in unison: Go back! Go back!

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