Hardselling his administration's pro-business approach, Prime Minister Narendra Modi on Friday said the government is working to decriminalise provision of Companies Act to make it easier to do business in the country.

Speaking at an Assocham event, he said the recent cut in corporate tax has brought rates to all-time low for businesses.

Banking stocks, especially public sector banks including Syndicate Bank, Indian Bank, and State Bnak of India (SBI), added up to 6.2 per cent on the National Stock Exchange (NSE) on Friday after the Reserve Bank of India (RBI) decided to buy and sell bonds worth Rs 10,000 crore via open market operations.

In a statement on Thursday, the RBI said it will simultaneously buy and sell government bonds worth Rs 10,000 crore each on December 23, through Open Market Operations (OMOs).

Ratings agency ICRA expects just nine states to need Rs 70,000 crore as compensation for the shortfall in goods and services tax (GST) collection in FY20, on account of a severe dip in growth of state GST (SGST) revenues amid the slowdown.

Karnataka, Kerala, Tamil Nadu, Gujarat, Maharashtra, Haryana, Punjab, Rajasthan, and West Bengal are the nine states. The requirement for all states could be much higher.

Private sector lender IDBI Bank plans to raise up to Rs 2,000 crore in capital through tier-II bonds to enhance capital adequacy. In September, Life Insurance Corporation (LIC) of India and the Government of India (GoI) together infused Rs 9,300 crore as equity capital into the bank.

After the capital infusion, the bank has shown improvement in all prompt corrective action (PCA) criteria except profitability.

Fraud-hit CG Power and Industrial Solutions Ltd on Friday said it has appointed former Chief Justice of India T S Thakur as head of investigation to monitor the ongoing forensic investigation.

"The proposal of the Company to appoint Hon'ble Justice T S Thakur (Retd) as Head of Investigation to monitor the ongoing forensic investigation commenced by the company was accepted by Justice Thakur (Retd)," the company said in a regulatory filing.

Australian cricketer Pat Cummins became the second-most expensive player in the history of the Indian Premier League (IPL) after he was picked up by Kolkata Knight Riders (KKR) for Rs 15.5 crore during an auction held in Kolkata on Thursday. A total of 62 players were sold in the auction. This was out of a pool of 332 players in the race for 73 slots in eight IPL teams. The total money spent was Rs 140.3 crore.

Cummins, co-vice-captain of the Australian national cricket team in all formats, found himself at the centre of a bidding war involving Delhi Capitals, Royal Challengers Bangalore, and KKR.

As Amazon.com Inc works to speed orders to customer doorsteps before Christmas, the e-commerce giant is touting an accomplishment that would have seemed absurd just a few years ago: Amazon is now its own biggest carrier.

In the US, delivery contractors and on-demand workers now account for a majority of deliveries to customers, an Amazon spokeswoman said.

Tata Sons, the holding company of the salt-to-software conglomerate, is looking at approaching the vacation Bench of the Supreme Court for a stay against the National Company Law Appellate Tribunal (NCLAT) order to reverse the status of the company from private to public limited and reinstating Cyrus Mistry as a director on its board and on three group firms, a person close to the matter told Business Standard.

Shares of Avanti Feeds were trading higher for the sixth straight day on Thursday on the back of heavy volumes. The stock was up 6 per cent at Rs 581, hitting 52-week high on the BSE. Shares of the company, which engaged in shrimp processing and manufacturing of prawn and fish feeds, surpassed their previous high of Rs 571 touched on November 11, 2019.

In the past six trading days, the share price of Avanti Feeds has appreciated 18 per cent against 3 per cent rise in the S&P BSE Sensex.

Yamaha Motor India today announced its entry into the 125cc scooter segment. The company introduced two new scooters in the 125 cc segment - Fascino 125, Ray ZR 125. Company also said that it will withdraw its 110cc offering.

Motofumi Shitara, Chairman, Yamaha Motor India Group of Companies said that the currenr slowdown is temporary and the industry will bounce back soon.

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