State Bank of India (SBI) on Wednesday decided to offload 4% of its stake in SBI General Insurance, its general insurance arm, for Rs 482 crore to an alternative investment fund promoted by Axis AMC and Premji Invest.

Post this transaction, SBI General Insurance will be valued at around Rs 12,000 crore.

Benchmark indices Sensex and Nifty gave up most of their initial gains after investors turned cautious ahead of September futures and options (F&O) expiry Thursday amid weak Asian cues after the US Fed raised interest rates for the third time this year.

The Reserve Bank of India (RBI) on Thursday said it was ready to provide necessary liquidity support in the banking system and allowed banks to borrow two percentage points more for their liquidity coverage ratio using government securities as collateral.

Money market rates have short up due to liquidity shortage in the system, and generally, the mutual fund (MF) industry is aversed to buying short-term papers of NBFCs after IL&FS started defaulting on its obligation.

The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to 300 brokerages whose clients lost significant money in the infamous Rs 56-billion National Spot Exchange (NSEL) scam.

Sebi’s notice alleged that these brokerages no longer meet the “fit and proper person” criteria and hence should not be allowed to continue as intermediaries.

Soon, Indian Railways passengers on premium trains such as Rajdhani, Shatabdi and Duronto Express will be able to watch movies, listen to music on the go with the help of WiFi hotspots! Indian Railways is looking to up the entertainment quotient on trains with the help of WiFi hotspot devices that will allow passengers to play pre-loaded content on their smartphones, laptops and tablets. Financial Express Online has learnt that the new project will be implemented in Rajdhani, Shatabdi, Duronto and Gatimaan Express trains to begin with.

Badminton stars Saina Nehwal and Parupalli Kashyap are ready to enter into a new partnership, however, not on the court as the duo are set to tie the knot on December 16, according to reports.

The shuttlers are going to get married in a private ceremony which will be followed by a grand reception slated for December 21, a report in the Times of India said.

The government on Wednesday hailed the Supreme Court judgement upholding the constitutional validity of Aadhaar scheme.

It is a historic order, Aadhaar's concept has been accepted after judicial review, we welcome this decision of Supreme Court, Finance Minister Arun Jaitley said after the top court verdict.

The government Wednesday approved a Rs 4,500 crore package for the sugar industry that includes over two-fold jump in production assistance to cane growers and transport subsidy to mills for export up to 5 million tonnes in the marketing year 2018-19, sources said.

The Cabinet Committee on Economic Affairs (CCEA) approved the food ministry’s proposal that seeks to address the surplus domestic stock of sugar and help mills in clearing huge cane arrears of around Rs 13,000 crore.

The Supreme Court Wednesday declared the Centre's flagship Aadhaar scheme as constitutionally valid but struck down some of its provisions including its linking with bank accounts, mobile phones and school admissions.

A five-judge constitution bench headed by Chief Justice Dipak Misra held that while Aadhaar would remain mandatory for filing of IT returns and allotment of Permanent Account Number (PAN), it would not be mandatory to link Aadhaar to bank accounts and telecom service providers cannot seek its linking of Aadhaar for mobile connections.

The Supreme Court on Wednesday refused to reconsider a 2006 judgement which had put conditions for granting quota benefits in job promotions for SC/ST employees.

Pronouncing the verdict, a five-judge constitution bench headed by Chief Justice Dipak Misra said that its 2006 verdict in the M Nagraj case need not be referred to a 7-judge bench.

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