SBI Life Insurance shares dipped 5 per cent to Rs 675 in early morning trade on the BSE on Tuesday, as BNP Paribas Cardif's offer-for-sale (OFS) opened today. The floor price has been fixed at Rs 650 per share.

BNP Paribas Cardif, the foreign partner of SBI Life Insurance, will sell up to 25 million shares, representing 2.5 per cent stake in the insurance company, for at least Rs 1,625 crore through OFS mechanism. The two-day OFS today opened for non-retail investors and on Wednesday for retail investors.

The rupee on Tuesday opened three paise higher at 69.32 against the US dollar amid steady crude oil prices.

The domestic unit on Monday recovered the lost ground and finally settled 23 paise higher at 69.35 amid weakening of the greenback against major currencies.

In-house functions of an organisation's office such as human resources, accounts and payrolls, if carried out from a centre in one state for offices in other states, will come under the GST net, Economic Times reported on Tuesday. Invoices for the same will have to be issued.

Banker Rana Kapoor’s family is planning to sell a stake in their six-year-old mortgage finance company, people with knowledge of the matter said, as rising wariness in the credit market erodes growth prospects of shadow finance firms.

The family office run by the three daughters of the Yes Bank Ltd. co-founder is working with Nomura Holdings Inc. on the potential deal, according to the people, who asked not to be identified as the information isn’t public.

The Supreme Court on Monday sought a response from the Central and Bihar governments on the steps taken to prevent death of children due to the outbreak of acute encephalitis syndrome (AES) in Muzaffarpur.

A vacation Bench of Justices Sanjiv Khanna and B.R. Gavai asked the State government to explain in an affidavit the facilities dealing with public health, nutrition and sanitation for treatment of children suffering from AES.

Apple might introduce a 16-inch screen variant of the MacBook Pro in September this year, according to a news report in a technology portal The Verge.

We foresee that Apple will release a new product in September 2019 Apple event if there's no unexpected development issue, said Jeff Lin, Associate Director of Consumer Electronics at IHS Markit, reported The Verge.

The Income Tax department has issued Rs 64,700 crore worth refunds in the current financial year, and for full 2018-19 financial year the amount released was over Rs 1.61 trillion, Finance Minister Nirmala Sitharaman said Monday.

In a written reply to a question in the Lok Sabha, she said over 649 million electronic returns were submitted for assessment year 2018-19 (financial year 2017-18), up 18.65 per cent from over 547 million in assessment year 2017-18.

Engineering and construction major Larsen and Toubro (L&T) has bagged a mega engineering, procurement and construction (EPC) order from SJVN Thermal Private Limited to set up a 2x660 MW ultra-supercritical power plant in Buxar district, Bihar.

The award bagged by L&T’s power division is over ₹7,000 crore as per the company’s classification of mega project.

In a sudden development, Reserve Bank of India Deputy Governor Viral Acharya has resigned six months before the scheduled end of his term in office, ANI confirmed. Acharya was roped in by the government as Deputy Governor of RBI on 2017, January. His three-year term was set to end on January 22, 2020.

He used to look after There will be two top slots open in RBI one of Acharya and other of NS Viswanathan who is retiring on July 3rd 2019 Viral Acharya looks after monetary policy, research and financial stability while Viswanathan is in charge of crucial banking regulation and risk management department.

Public sector NPAs of loans issued under the scheme have increased by Rs 9,204.14 crore in just one year – from Rs 7,277.31 crore in March 2018 to Rs 16,481.45 crore in March 2019.

New Delhi: The non-performing assets (NPAs) under Prime Minister Narendra Modi’s ambitious Pradhan Mantri Mudra Yojana (PMMY) doubled within one year. This information was obtained through an RTI petition filed by The Wire.

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