Mumbai: Tata Motors Ltd is working on plans to revamp its entire dealership network as it seeks to bolster attempts to stage a turnaround in its passenger vehicle business in India, said a senior company executive.

The nationwide revamp will commence next year because the Mumbai-based auto maker feels its current showrooms are not equipped enough to handle its latest range of cars and sport-utility vehicles (SUVs) including those set to be launched in the future.

Punjab National Bank (PNB) sold non-performing credit card outstandings worth over 3% of its portfolio in the category in September, according to people aware of the development. Outstandings worth Rs 8.77 crore were put on sale out of a total outstanding of Rs 280 crore in the credit card segment.

It could not be immediately ascertained who bought the portfolio and at what price.

Paytm Mall is offering cashback deals and discounts on the latest range of Sound Systems and Accessories. Under its ongoing Maha Cashback Sale, Paytam Mall is offering up to Rs 5,000 cashback on in-demand Headphones and Speakers from JBL, Sony, Apple, and Samsung. Customers can also avail an additional 10% cashback (up to Rs 2,500) on purchases made via ICICI Bank Credit and Debit Cards.

The BSE benchmark Sensex staged a strong comeback by recovering over 600 points in opening trade Friday following fresh purchases made by domestic investors ahead of key macroeconomic data to be released later in the day, fall in global crude prices and rupee recovery.

The government on Thursday extended the term of P S Jayakumar as the managing director and chief executive officer of Bank of Baroda by another year till October 12, 2019. His three-year term was to end on Friday.

The extension is being seen as an important move aimed at steering the proposed merger of Bank of Baroda (BoB), Vijaya Bank and Dena Bank. The boards of the three public sector banks have already given the nod for the merger proposal.

Continuing with its growth story, Tata Consultancy Services, the country's largest information technology services company, met the Street's expectations for the September quarter's financial numbers.

And, for the first time after many quarters, it reported double-digit revenue growth in constant currency (CC) terms, apart from widening the profitability.

India’s headline inflation data may be subdued for now, but there are mounting risks that are difficult to ignore: a record-low currency, high oil prices, and a looming election that’s prompting the government to raise food prices to placate farmers.

Data due Friday evening will probably show consumer prices rose 4 per cent in September, according to the median of 35 estimates in a Bloomberg survey of economists.

Continuing its recovery, the rupee Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased.

Besides, dollar-selling by exporters and banks, the greenback's weakness against some currencies overseas, helped the recovery in the domestic currency.

Shares of YES Bank have rallied 6% to Rs 255 on the BSE in early morning trade after the private sector lender appointed US-based headhunter Korn Ferry to assist the bank’s committee in its selection of the new managing director & chief executive officer (MD & CEO).

The bank had announced that it would find a successor to MD & CEO Rana Kapoor whose term was cut short by the Reserve Bank of India (RBI).

A Dubai-bound Air India Express flight with 133 people on-board brushed against a wall at the airport Friday, officials said.

All passengers are safe.

The plane lost contact with air traffic control officials and landed in Mumbai after around four hours, they said.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.