State Bank of India, the country’s largest lender, on Tuesday said it had tripled its target for purchase of loan portfolio from non-banking financial companies (NBFCs) and was looking for opportunities both in priority and non-priority sectors.

According to the bank’s internal assessment, there may be an opportunity to buy additional portfolio in range of Rs 200 billion to Rs 300 billion, SBI said in a statement.

Mobile messaging platform WhatsApp Tuesday said it has built a system that stores payments-related data in India, in line with RBI's data localisation policy.

The Reserve Bank of India (RBI), in a circular in April, had said all system providers will have to ensure that the entire data relating to payment systems operated by them are stored in a system only in India. It had given time till October 15 to comply with the mandate.

Yes Bank shares extended rally on Tuesday, and gained more than 4% intra-day after reports that promoters Rana Kapoor and Madhu Kapur have initiated moves to reach an out-of-court settlement. Notably, Yes Bank shares zoomed to an intra-day high of Rs 233.8, in second straight day of rally.

New Delhi: Infosys Foundation on Monday announced Rs 1.5 crore reward to push innovation in social work following increase in funds under the government rules.

"Infosys Foundation have been working since last 22 years. We had less money but thanks to 2 per cent now, which is more money.

Bengaluru/San Francisco: Google will shut down the consumer version of its social network Google+ after announcing data from up to 500,000 users may have been exposed to external developers by a bug that was present for more than two years in its systems. The company said in a blog on Monday it had discovered and patched the leak in March of this year and had no evidence of misuse of user data or that any developer was aware or had exploited the vulnerability.

Benchmark indices turned choppy on Tuesday as investors turned cautious amid mixed global cues.

The benchmark BSE Sensex opened 150 points higher on buying by domestic institutional investors (DIIs) and rupee recovery.

State oil marketing companies have stepped up pressure on Air India, threatening to suspend supplies in case of default.

On Monday, the Indian Oil Corporation threatened to snap supply at eight airports over pending dues. However, supply was not discontinued, as the airline made a payment of Rs 1 billion. Air India group companies uplift fuel around Rs 220-230 million daily and the amount has risen over last couple of weeks because of increase in fuel prices.

GMR Infrastructure will give Rs 35.6 billion by way of cash and 5.86 per cent stake in its airport holding company to three private equity (PE) investors, ending two years of litigation.

The immediate cash payout works out to around Rs 15 billion, as the three investors are to give new loans of Rs 20.05 billion as part of the transaction. In 2010-11 and 2011-12, GMR Group had raised Rs 14.78 billion via compulsorily convertible preference shares from SBI Macquarie, Standard Chartered Private Equity, JM Financial Old Lane and others.

Shares of Tata Motors hit a six-year low of Rs 185 per share, down 13% on the BSE in intra-day trade on Tuesday, after the company-owned Jaguar Land Rover (JLR) on Monday, reported a 12.3% year on year (YoY) decline in global sales at 57,114 units in September, hit by lower demand in China. The stock was trading at its lowest level since July 26, 2012, on the BSE.

For those surprised by India’s decision to hold interest rates last week, the central bank’s forward-looking surveys hold some explanation: demand in the world’s fastest-growing major economy may be cooling.

The capacity utilization rate, consumer confidence, and the outlook for demand in the manufacturing sector in the third quarter were less optimistic, the results of separate surveys released by the Reserve Bank of India show.

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