Localisation of components used in manufacture of electric vehicles (EVs) is required for attractive price propositions along with investments in infrastructure to drive the demand of electric cars, Tata Motors CEO & MD Guenter Butschek said on Thursday. Speaking at the launch of its new solution for electric vehicles called Ziptron, Butschek said steps had been taken by the Indian government to push for electrification of Indian automobile segment.

Morgan Credits (MCPL), part of the promoter group of YES Bank, on Thursday sold a 2.3% shareholding in the bank. The proceeds will solely be utilised to prepay a substantial part of outstanding NCDs of MCPL subscribed by various schemes of Reliance Nippon Life Asset Management Company (RNAM).

Deloitte, the resolution professional (RP) to Reliance Communications (RCom), has filed an application in the National Company Law Tribunal seeking a direction to the Department of Telecommunications (DoT) that status quo be maintained on spectrum licences, and that they should not be terminated.

Google, in its fifth annual ‘Google For India’ event on Thursday, announced a series of new plans for its Indian market. The company announced that it will setup an AI lab in Bengaluru which will focus on applying AI research to solve problems in healthcare, agriculture & education. Google has become the second international IT firm in India after Microsoft to open an AI lab.

In a major fiscal booster, the government on Friday slashed effective corporatIon tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.

Making the announcement, Finance Minister Nirmala Sitharaman said the new tax rate will be applicable from the current fiscal which began on April 1.

A group of ministers, led by Home Minister Amit Shah, on Thursday set the ball rolling on disinvestment of state-owned Air India. This is the second attempt of the Modi government to sell Air India after a previous attempt failed to generate any interest.

Officials aware of the deliberations in a meeting of AISAM on Thursday said the agenda was to seek a formal political approval for the re-initiation of the privatisation process.

Private lender Axis Bank on Thursday fixed the floor price for its qualified institutional placement (QIP) issue at at Rs 661.50 per equity share. The private lender has said that the board will meet again on September 25 to approve QIP issue to investors.

The bank, in an exchange filing, has also said that a discount of 5 per cent can be offered on the base price at the discretion of the board.

The Reserve Bank of India (RBI) on Thursday said banks can set their own policies regarding concurrent audits but should cover basic minimum areas prescribed by the central bank.

Earlier, the central bank used to formulate rules for concurrent audits, which are done to shorten the interval between a transaction and its audit. The idea is to develop sound internal accounting, minimising errors, and preventing frauds.

TVS Motor Company today launched the TVS NTORQ 125 Race Edition. The vibrant chequered flag graphics along with the ‘Race Edition’ emblem on the scooter accentuates the TVS Racing pedigree.

The new 125 cc scooter is targetetted at millienials and has a host of features to target the Gen Z according to the company.

Mumbai: India’s largest lender State Bank of India (SBI) has put on hold its existing repo-linked home loan product as it prepares to launch a new one on 1 October, complying with the direction of the Reserve Bank of India (RBI), according to a person familiar with the development.

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