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.

NEW DELHI : Indian Space Research Organisation (ISRO) chief explained about Gaganyaan mission and its importance for India. While addressing the 8th convocation of IIT Bhubaneswar, K Sivan said the mission will give a thrust to the country's science and technology capabilities. "There are some questions.

TVS has launched the sportier NTorq 125 Race Edition in India at Rs 62,995 (ex-showroom Delhi) just a couple of days after it was teased. The newly launched variant is dearer by Rs 3000 over the disc brake-equipped model. It gets a new full-LED headlamp - something long anticipated in the scooter since the beginning. It also gets hazard lamp function and new colour options with new graphics.

Mumbai: Bharat Gas Resources Ltd (BGR) a wholly-owned subsidiary of Bharat Petroleum Corporation Ltd (BPCL), has signed a five-year loan agreement with Bank of Baroda for ₹3100 crore, according to two officials aware of the deal.

The company will use the loan to fund expansion of its city gas distribution business. BGRL has a board approved borrowing limit of ₹4000 crore.

Mumbai: Shares of ITC Ltd on Monday surged over 9%, its biggest jump since March 2016, after the GST Council meeting did not announce any increase in cess on cigarettes.

The stock touched a high of ₹260.30 on the BSE and gained as much as 9.3%, its maximum gain since March 2016. At 9.40 am, the scrip was trading at ₹256.30, up 7.6% from its previous close. The stock’s market cap increased by nearly $3.66 billion.

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