The BSE benchmark Sensex dropped over 200 points on Wednesday amid rising tension between the Reserve Bank of India and the government.

Investor sentiment turned weak in early session on reports that the government may invoke certain provisions to issue directions to the central bank.

Cigarette-to-soap maker ITC, which is on a dairy portfolio expansion spree, on Tuesday said it has no hurry to be a pan-India player in pouch milk and curd, and is currently focussing on the West Bengal and Bihar markets in these two categories. The diversified conglomerate is looking to launch paneer and flavoured milk in the next two months.

A special court Tuesday rejected businessman Vijay Mallya's plea seeking a stay on the proceedings initiated by the Enforcement Directorate (ED) to declare him a fugitive economic offender (FEO).

Special judge M S Azmi rejected Mallya's plea and said the court will hear arguments on the main ED plea to declare the beleaguered industrialist an FEO on November 22.

Amazon Pay, the online payments processing service owned by the America-based retailing major, has tied-up with ICICI Bank to launch an Amazon Pay ICICI Bank credit card in partnership with Visa.

It has planned to majorly expand in the financial technology space and in making digital money more prevalent in tier-III cities and other towns. Amazon Pay says their tie-up would help in greater penetration for ICICI into places where credit card usage is less.

With pharmaceutical major Johnson & Johnson (J&J) losing the patent battle in the US court for its popular prostrate cancer drug Zytiga, opportunities for Indian players, who have already lined up generic versions, have opened up.

The drug is considered among the leading therapies for prostrate cancer. Players such as Dr Reddy’s Laboratories, Glenmark, and Wockhardt are among the generic filers, which has an estimated sales of around $1.5 billion in the US market.

Shares of Coal India were down by 4.4% at Rs 265 per share on Wednesday in early morning trade, extending their 4% decline in the previous day on the BSE after the company’s offer for sale (OFS) of its equity shares began today.

The shares will be sold at a floor price of Rs 266, and the sale will be conducted on Wednesday and Thursday, the company said in a filing. The floor price is at a discount of 4% to Tuesday's closing price of Rs 277 on the BSE.

New Delhi: The Supreme Court on Tuesday paved the way for the Telecom Regulatory Authority of India’s (Trai) tariff order and interconnect regulations for pricing and packaging of TV channels offered to subscribers, listing channel genres and a genre-wise ceiling on channel prices.

On 3 July, TRAI enforced the Telecommunication (Broadcasting and Cable) Interconnection (Addressable Systems) Regulations 2017 and set the deadline for compliance by broadcasting companies as 31 August.

Mumbai: The Reserve Bank has relaxed norms for the fire audit of currency chests allowing banks to get it done from approved agencies in case of shortage of staff at district fire offices.

Banks maintaining currency chests are required to get fire audit done once in a two years.

Implementing Bitcoin at similar rates at which other technologies have been incorporated could alone produce enough emissions to raise global temperatures by two degrees Celsius as soon as 2033, according to a study. “Bitcoin is a cryptocurrency with heavy hardware requirements, and this obviously translates into large electricity demands,” said Randi Rollins, a master’s student at the University of Hawaii at Manoa in the US.

Sebi has asked over a dozen suspected shell companies to extend cooperation to ensure completion of forensic audits in a time-bound manner, failing which they would face stringent trading curbs. The forensic audit is being conducted by independent auditors appointed by stock exchange on the direction of the markets watchdog. Independent directors have been mandated to conduct forensic audits for verification of credentials or fundamentals of such companies.

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