A scheme to augment the availability of export credit — at affordable terms and in sufficient volume — will soon be unveiled, said Commerce and Industry Minister Piyush Goyal. This scheme will include forex credit.

The scheme, which aims to ease availability of export credit especially for small businesses, will likely lead to rates dropping to the sub-4 per cent category, said Goyal.

State-owned lender State Bank of India (SBI) has successfully divested 4.5 per cent stake in SBI Life Insurance Company. The share sale will fetch SBI nearly Rs 3,500 crore which will help the state-owned institution augment its capital base.

The offer for sale (OFS) on Thursday saw nearly two times more demand than the shares on offer.

Gold and silver prices in India continue to be under pressure, tracking a weak global trend and a stronger rupee. On MCX, October gold futures prices were down 0.2% to ₹37,877 per 10 grams. Gold prices are now down about ₹2,000 from last week's high of ₹39,885. Tracking a similar weak trend, silver prices continue to fall. Silver futures prices on MCX were today down 0.60% to ₹47,518. Silver rates are now down about ₹4,000 from their last week's high of ₹51,489.

MUMBAI : Public sector lender Bank of Baroda (BoB) has decided to sell the head office of erstwhile Dena Bank in Bandra Kurla Complex for at least ₹530 crore, according to a document seeking bids. The e-auction will be conducted on 18 October.

This follows the merger of Bank of Baroda with Dena Bank and Vijaya Bank in April.

New Delhi: As part of India’s energy security efforts, state-run companies present in the conventional power space such as NTPC Ltd, NLC India Ltd (earlier known as Neyveli Lignite Corp. Ltd) ,and Power Grid Corp. of India Ltd (PGCIL) are being roped in to build massive green energy parks.

Union Finance Minister Nirmala Sitharaman assured the industry of possible measures to address sector-wise challenges, as well as a major push to infrastructure, in an informal meeting with industry captains from Tamil Nadu on Wednesday.

The objective of the meeting was to get a sense of ground reality, amid the current economic slowdown, across various industrial sectors of the economy.

Domestic equity benchmark BSE Sensex advanced 150 points in early session on Thursday, driven by by gains in banking, metal and energy stocks, ahead of key macroeconomic data releases.

After touching a high of 37,421.13, the 30-share index was trading 129.68 points, or 0.35 %, higher at 37,400.50 at 0940 hours, while the broader Nifty rose 34.65 points, or 0.31 %, to 11,070.35.

The country’s largest lender, State Bank of India (SBI), on Wednesday approved to divest at least 3.5% stake in SBI Life Insurance through the offer for sale (OFS) route. SBI Life in the notice to exchange said that SBI proposes to sell 3.5 crore shares in aggregate representing 3.50% of the total issued and paid-up equity share capital of the company. The floor price for the offer shall be Rs 770 per equity share and offers open on September 12. With this, the bank will raise around Rs 2,695 crore.

A team of Federal Trade Commission (FTC) investigators has begun interviewing small businesses that sell products on Amazon.com to determine whether the e-commerce giant is using its market power to hurt competition.

Several attorneys and at least one economist have been conducting interviews that typically last about 90 minutes and cover a range of topics, according to three merchants.

Reliance Nippon Life Asset Management (RNAM) has clarified that it has not given consent for any transaction relating to Yes Bank’s pledged shares. Several media reports suggested that Rana Kapoor of Yes Bank was looking to exit by selling his and his family’s stake to Vijay Shekhar Sharma of Paytm. Rana Kapoor and his family have around 9.65% stake in the bank, and according to the reports, they have pledged 7.34% with RNAM.

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