Paytm Mall, the e-commerce wing of Paytm, has forged a partnership with Apple to become one of the authorised resellers in India. This means that the sellers on Paytm Mall would require a pre-authorised approval to be able to list Apple products, including iPhone, iPad, Mac, Apple Watch, and more. In the hindsight, it also alludes to reduction in the range of discounts and offers doled out by Paytm Mall on Apple products to attract buyers.

The U.S. Department of Justice is investigating whether big technology companies are engaged in anticompetitive behavior, addressing a rising tide of criticism they have become too powerful to the detriment of consumers.

The Justice Department has said it will investigate “whether and how” online platforms in “search, social media, and some retail services online” are engaging in behavior that stifles competition and harms consumers.

More than two years after the idea of doorstep delivery of fuels was mooted, Reliance Industries (RIL) is preparing to enter the fray. The state-run oil marketing companies (OMCs), on their part, will add at least 500 doorstep fuel delivery vehicles within the current financial year.

The OMCs — Indian Oil, BPCL and HPCL — will soon be issuing advertisements to select interested start-ups and entrepreneurs to enter the field, said a source.

Fitch Ratings on Wednesday downgraded the long-term issuer default rating (IDR) of Tata Motors (TML) to ‘BB-’ from ‘BB’ with a negative outlook. The stock of Tata Motors ended the day at Rs 151.25, down by 3.17%, or Rs 4.95, on the BSE. Data from Bloomberg showed that total debt of Tata Motors stood at Rs 1.06 lakh crore as on March 2019.

Hyundai Motor is planning to develop a new electric vehicle (EV) platform for India to address the mass market. The company plans to invest around $200 million to develop the new platform.

"We are working on a (electric) platform, which will be for Indian mass market and it would cost around $200 million," said S S Kim, MD and CEO of Hyundai Motor India, adding that the product may be launched in the next 3-4 years.

India’s second largest public sector lender, Bank of Baroda, has cut its savings deposit interest rates by 25 basis points (bps) to 3.25% per annum, which is the lowest among its peers. The rate has been revised on saving accounts with balance below Rs 50 lakh and are applicable with effect from July 20. The bank last week also cut its term deposit rates across tenures; for 1-year term deposit, interest rate was cut 25 bps to 6.45% per annum.

The Digital Communications Commission (DCC) on Wednesday approved the recommendation of the Telecom Regulatory Authority of India (Trai) to levy a total penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea for refusing to provide points of interconnection to Reliance Jio. The apex decision-making body of the telecom sector will now send its verdict to the Department of Telecommunications (DoT) for the final decision. The affected telcos are likely to move court once the DoT formalises the decision.

Rating agency ICRA has downgraded private lender YES Bank’s long-term rating while maintaining a negative outlook on the bank, citing the lenders’ inability to reduce its exposure in the ‘BB’ and below-rated accounts and erosion in tier-1 capital on account of increase in risk-weighted assets and accelerated provisioning, leading to muted profitability.

Public sector lender, Bank of Baroda (BoB) revised its interest rates on fixed deposits (FDs) effective 20 July 2019. Bank of Baroda offers interest rates ranging from 4.50% p.a. to 6.60% p.a. for FD with tenures ranging from seven days to 10 years. The bank has reduced the rate of interest across all maturities. FD rates of Bank of Baroda now range from 5.25% p.a. to 6.25% p.a. on deposits with a tenure of 7 days to less than one year.

Easing working capital woes for India’s burgeoning MSME sector, private sector lender Yes Bank is offering secured working capital loan between Rs 1-3 crore in the form of overdraft, letter of credit, and financial bank guarantees. The bank has launched a programme called Smart Edge for MSMEs — a “first-of-its-kind surrogate lending model,” the company said in a statement,

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