Ajay Singh-promoted budget airline SpiceJet, which is making efforts to improve its distribution in the international market, has appointed travel technology solutions provider Amadeus as its first global distribution partner.

The entire ticketing inventory will continue to be available to domestic travellers through existing channels as well as with Amadeus with a different pricing, the airline said in a statement.

The Reserve Bank of India has fined 19 banks, including India’s largest bank State Bank of India and ICICI Bank, for a total of about Rs 40 crores in relation to non-compliance of its guidelines on global payments network SWIFT .

PSU bank SBI informed exchanges Saturday about the penalty of Rs 1 crore for delayed implementation of the daily reconciliation of Swift transaction logs with effect from Feb 20, 2018 at 226 branches.

New Delhi: Telecom operators Vodafone Idea, Bharti Airtel and Reliance Jio have paid the government about Rs 6,000 crore in spectrum dues slated for March 3, but debt-ridden Reliance Communications has so far not deposited its dues of Rs 21.5 crore, sources said.

A source privy to the development told PTI that India's largest telecom operator Vodafone Idea has made payment of over Rs 3,042.7 crore to the Department of Telecom towards its spectrum dues (that is, deferred payment instalment for spectrum bought in auctions).

NEW DELHI: Maruti Suzuki India Wednesday launched two CNG variants of its newly launched hatchback WagonR priced at ₹4.84 lakh and ₹4.89 lakh (ex-showroom Delhi).

The factory fitted WagonR S-CNG will be available in Lxi and Lxi(O) variants powered by 1 litre engine and priced at ₹4.84 lakh and ₹4.89 lakh, respectively, the company said in a statement.

Tata Motors plans to bring a plethora of electric vehicles catering to not just fleet owners and government sales but also to private consumers with aspirational products going ahead, according to a senior company official.

The auto major, which sells Tigor EV in the domestic market, mostly supplying for state-owned EESL's orders, has also decided to adopt a focussed market approach for its EV sales, targeting 20-25 locations across India.

Mumbai: Indian bourses furthered gains in early trade on Wednesday, with benchmark indices Sensex and Nifty adding 157 points and 53 points, respectively, on sustained buying mainly in stocks of finance, metal and capital goods sectors.

The BSE barometer Sensex opened positively at 36,544.86 and further consolidated its gains to trade at 36,599.69, climbing 157.15 points, or 0.49 per cent, over the previous close. It had gained nearly 379 points to close at 36,442 on Tuesday.

State-owned Bank of Baroda (BoB) on Tuesday cut its benchmark lending rate by 10 basis points, making home, auto and other loans cheaper for its customers, though the reduction is much less than the policy rate cut by the RBI.

The BoB thus joins other banks such as Punjab National Bank, Union Bank of India, Allahabad Bank and Kotak Mahindra Bank, who have brought down their marginal cost of funds-based lending rate (MCLR) by 5-10 basis points.

L&T Infotech is likely to finalise acquiring Cafe Coffee Day founder VG Siddhartha’s 20.41% stake in Mindtree as early as this week for a price close to `975/ share, which is higher than the price offered by KKR at about `925/share, a source aware of the matter told FE. Mindtree’s shares closed Tuesday’s session 1.59% down at `916.50 on the BSE.

Coal India’s shipments rose 3% year-on-year to 51.5 MT in February 2019. Key highlights: 1) shipments of large subsidiaries — MCL and SECL — rose 2% and 4%, respectively; 2) production grew 6.5% y-o-y to 58.1 MT led by MCL and SECL; and 3) pit-head inventory estimated at 35 MT as at February end, leading to improved coal availability. Going ahead, we expect: a) Coal India (CIL) to report 4.5% y-o-y growth in shipments in FY19; and 2) e-auction premium could dip, given the inventory build-up. Maintain ‘hold’ with `243 target price. The stock is currently trading at 9.5x FY21E EPS.

India’s overall export-import (Exim) container trade increased 6% during the fourth quarter of 2018 on the back of spike in refrigerated cargo by China.

According to the Maersk India trade report for the quarter ended December 31, 2018, the imports grew 9% in the same quarter.

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