The Supreme Court on Friday gave the Reserve Bank of India (RBI) “a last opportunity” to withdraw a November 2016 Disclosure Policy to the extent to which it stonewalls revelation of every other kind of information under the Right to Information Act, including the list of wilful defaulters and annual inspection reports.

Maruti Suzuki India chairman RC Bhargava on Friday said the third production line of 2.5 lakh units would be commissioned by April 2020 at Suzuki’s Gujarat plant situated at Hansalpur. Speaking to mediapersons, Bhargava said currently two production lines are operational with aggregate capacity of 500,000 units. Suzuki Motor’s 100% subsidiary Suzuki Motor Gujarat has set up a state-of-the-art car manufacturing plant in Gujarat and first car from the plant rolled out in September 2017.

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development business of $20.7 billion Mahindra Group, is expecting an investment of Rs 3,000 crore to Rs 3500 crore from the incoming companies at its just-inaugurated industrial cluster christened ORIGINS in Chennai, when its first phase gets completed with full capacity utilisation.

State-run ONGC will start production of gas from its lone field with proven reserves of this variety of hydrocarbon in the Krishna Godavari basin off the east coast in December this year and expects to reach the peak production level in 2022. “We are getting encouraging results with new oil and gas discoveries (in KG basin),” an ONGC executive said. The executive added that the initial production from the field KG-DWN-98/2 will be 4-5 mscmd with peak rate being 17 mscmd.

The Ministry of Corporate Affairs (MCA) has favoured a ban on crypto currencies, with its investor protection arm, Investor Education and Protection Fund (IEPF) Authority, pitching for the policy change. “What I am saying is when it comes to investor protection, we have to take a stand against certain things, whether it is a ponzi scheme. And we think that crypto currency is a ponzi scheme and it should be banned,” CEO of IEPF Authority Anurag Agarwal told reporters.

The automobile industry is gearing up for a major shift. With stricter emission norms - BS VI - kicking in from April next year, it might be the end of the road for small diesel cars. Many automakers are of the view that upgradation to new technology will make diesel cars expensive, especially the smaller ones, taking it beyond the affordability level of Indian consumers. Though, bigger diesel SUVs will continue to play.

Hundreds of Air India passengers were left stranded at several airports across the world as its check-in software stopped functioning for around six hours, the airline said Saturday.

According to airline sources, the software, which is of Atlanta-based SITA company, was not functioning approximately from 3 am to 9 am Saturday. Consequently, boarding passes could not be issued at major airports across the world and various flights were delayed.

SBI General Insurance, a subsidiary of SBI, on Friday reported a 11.3 per cent rise in profit before tax at Rs 470 crore for the financial year ended March. It was Rs 422 crore in previous year. The solvency ratio for FY18–19 is 2.34 against 2.54 for the same period last year. SBI General is looking at listing of its shares in the second half of the current financial year. Joint venture partners — SBI and Insurance Australia Group — are working on modalities for listing after September 2019, top company executive said.

Private lender YES Bank posted its first quarterly loss, of Rs 1,507 crore, during the January-March 2019 period on account of a fall in non-interest income and a sharp increase in provisioning for bad loans, mainly due to defaults by the Infrastructure Leasing & Financial Services (IL&FS) group and Jet Airways. It had reported a net profit of Rs 1,179 crore in the fourth quarter of FY18.

Mumbai: Based on the recommendations of the Kotak panel, the Securities and Exchange Board of India had decided to restrict royalty payments to 2%. Royalty payment is the fee paid by Indian subsidiaries to overseas parent companies for the usage of the brand.

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