Countrys largest lender State Bank of India (SBI) Tuesday said extradition of fugitive liquor baron Vijay Mallya from the UK to India will speed up the recovery of over Rs 9,000 crore of loans. In a major boost to India’s efforts to bring back Mallya, who is wanted for loan default worth around Rs 9,000 crore to a consortium of 13 banks led by SBI, a UK court Monday ordered his extradition.

New Delhi: Tata Motors Ltd, which is on a comeback trail, is betting big on its upcoming SUV Tata Harrier to place itself among the top three passenger vehicle manufacturers on a sustainable basis, a top company executive said.The company, which has been working on a strategy to revive its fortunes in the passenger vehicle (PV) segment for the last couple of years, now believes it has the products and scale to be among the leaders in the segment.

The domestic stock markets are likely to open sharply lower after RBI governor Urjit Patel’s exit and ahead of the crucial state elections outcome. Mr. Urjit Patel’s resignation as RBI’s Governor may create temporary flutter in the markets that are waiting expectantly to know which way the citizens of 3 crucial Hindi Heartland States have voted, Ajay Bodke of Prabhudas Lilladher said in a note.

The chief executive officer of Alphabet Inc’s Google on Monday defended the integrity of the company’s products a day ahead of a congressional hearing where he is expected to face tough questions from U.S. lawmakers. The technology company has been under fire on Capitol Hill over issues including why it delayed disclosing vulnerabilities with its Google+ social network, whether it will restart its search engine in China and if it is biased against Republicans.

IT firm Wipro Tuesday said it has taken over the strategic design consulting team at Syfte, an Australian agency that uses design thinking to solve client challenges. Syfte’s team of designers will be absorbed within Designit — one of Wipro’s strategic arms — further strengthening its design and innovation capabilities, Wipro said in a statement.

State-owned insurance behemoth Life Insurance Corporation of India (LIC) posted a jump in gross non-performing assets (NPAs) at 6.23 per cent in FY18 over 4.73 per cent in the previous financial year. However, it made higher provisions for bad loans, leading to a marginal decline its net NPAs from 1.96 per cent in financial year 2016-17 (FY17) to 1.82 per cent in FY18.

Dr Reddy s Laboratories Tuesday said it has launched Omeprazole delayed-release tablets, used to treat frequent heartburn, in the US market.

"Dr Reddy's Laboratories has launched Omeprazole delayed-release tablets in the strength of 20 mg, an over-the-counter (OTC) store-brand equivalent of Prilosec tablets, in the US," the company said in a BSE filing.

SWIFT India Monday said it has appointed ex-SBI chief Arundhati Bhattacharya as the new chairman of its board. SWIFT India is a joint venture of top Indian public and private sector banks and SWIFT (Society for Worldwide Interbank Financial Telecommunication). Bhattacharya will succeed former banker M V Nair, who is stepping down after completing five years with the company, SWIFT India said in a statement.

Global wholesales of all passenger vehicles in November were at 66,429 units, lower by 7 per cent from the year-ago month, Tata Motors said in a statement.

JLR sales were at 49,312 units.

PPrivate lender Kotak Mahindra Bank has filed a writ petition with the Bombay High Court after the Reserve Bank of India (RBI) turned down the bank’s proposal to reduce promoter stake by issuing perpetual non-convertible preference shares (PNCPs).

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