Mumbai: Markets regulator Sebi on Monday slapped a penalty of over Rs 22 crore on Aurobindo promoter P. V. Ramprasad Reddy, his wife P. Suneela Rani and other connected entities for violating insider trading norms.

The order has been issued following a probe into the trading in the scrip of Aurobindo Pharma (APL) during the period from July 2008 to March 2009 to ascertain the regulatory violation.

New Delhi: Paytm has started a marketing campaign to promote the interoperability feature of its quick response (QR) code scanning application, with the feature aiming 1.5 billion merchant payments on its platform during the festival season, the company said in a release.

A rally in market heavyweight Reliance Industries or RIL helped support Indian stock markets today. The Sensex had rallied nearly 3,000 points in the previous two sessions on optimism that the corporate tax cuts will lift corporate profitability, private capex and ultimately the broader economy. Many brokerages have upgraded their earnings estimates of India Inc and Sensex targets.

Loss-making telecom operator Vodafone Idea (VIL) stands to gain the most if the deadline for scrapping inter-connect usage charges (IUC) by Trai (Telecom Regulatory Authority of India) is extended. VIL gets about 30% of its overall operating income from IUC.

IUC charge is paid to the operator on whose network a call terminates. Trai had last reduced it in September 2017 by a sharp 57% to 6 paise per minute.

State Bank of India (SBI) will adopt repo rate as the external benchmark for all floating rate loans for micro, small and medium enterprises (MSMEs), housing and retail from October 1, 2019.

The bank has extended the scheme to medium enterprises also to boost lending to the MSME sector as a whole. SBI had introduced floating rate home loans effective July 1, 2019.

The National Stock Exchange (NSE) system faced trading outage, with investors unable to place orders in the last 15 minutes of the trade on Monday. The move hit several brokers and traders who had active positions in the market.

Sources said the exchange is looking to ascertain the reason for the glitch. Some officials said the problem occurred due to a connectivity issue with one of the internet services providers, Sify.

Distressed employees of cash-strapped Bharat Sanchar Nigam (BSNL) on Monday urged Prime Minister Narendra Modi to revive the company and make it a strong telecom operator. In a letter to Prime Minister Narendra Modi, the staff of the beleaguered company said, “We heard that the finance ministry is proposing the closure of BSNL, instead of its revival.”

Software consulting giant Accenture has opened its largest interactive experience centre in Mumbai.

This is the sixth such facility by Accenture Interactive, the marketing managed services arm of Accenture, which contributed $8.5 billion to the company’s business in 2018.

MUMBAI : ICICI Bank on Monday said it has opened 320 bank branches so far this fiscal and was looking to add another 130 branches over the next 6 months, taking the total branch network to over 5,320 by the end of March 2020.

“Our strategy is to set up branches wherever business activity emerges.

New Delhi: India aims to sell two or three state-owned firms to local or foreign firms to raise up to ₹60, 000 ($8.5 billion) by March 2020, a senior Finance Ministry official said on Monday.

The government planned to sell Bharat Petroleum Corp Ltd, logistics firm Container Corp of India Ltd and debt-laden Air India before the end of the 2019/20 financial year, the official, who asked not to be named, told reporters.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.