The Centre will soon announce a fresh turnaround plan (TAP) for Air India that will include transfer of the carrier’s working capital debt of Rs 30,000 crore or 62% of the total debt and non-core assets to a special purpose vehicle as well as an additional Rs 2,056-crore capital support in FY19. Given that AI had borrowed Rs 48,447 crore with an average interest cost of nearly 9%, the debt transfer from its books would give nearly Rs 2,700-crore annual relief to the loss-making carrier from the next financial year.

The UIDAI has said that the Supreme Court order restricting use of Aadhaar will have no bearing on enrolment and update services being carried out at banks, post offices and government premises.

The move comes as service providers may still use offline verification tools that leverage the unique ID without authentication.

The rupee dropped by another 14 paise to 73.90 per dollar in early trade Monday as the US currency gained in global markets amid unabated foreign fund outflows.

The dollar strengthened after China's central bank eased its domestic policy to support the economy.

Ruling out the possibility of inorganic expansion, Punjab National Bank (PNB) Managing Director Sunil Mehta said the bank is currently focussed on internal consolidation and making it financially healthy.

With Rs142 billion Nirav Modi episode getting out of scene, the bank is focussing on growth and recovery of bad loans, he told PTI.

Mumbai: In a major setback for utility vehicle (UV) maker Mahindra and Mahindra Ltd (M&M), a US district court in Michigan denied the company’s motion for a preliminary injunction that would have prevented Fiat Chrysler Automobiles (FCA) US LLC from bringing a complaint against it in the US’s International Trade Commission (USITC).

The Commercial Vehicles Business Unit (CVBU) of Tata Motors has signed a three-year-long partnership with the Pro Kabaddi League (PKL) as associate sponsors from this season.

Concurrently, Tata Motors would extend their commercial support to PKL franchise UP Yoddha as the principal sponsor for the second consecutive year, a media release from the company said Saturday.

No sooner had technology giant Microsoft made its latest “Windows 10 October 2018” update available for download on Tuesday than the users began complaining of sudden deletion of documents from their systems. Microsoft users who had installed the Windows 10 October 2018 update complained that the update feature has wiped out their user profiles including documents and photos.

MUMBAI: British American Tobacco (BAT) defeated a special resolution to grant stock options to employees of ITC and its subsidiaries in a move that rekindled memories of the battle for control between the overseas shareholder and the Indian company’s management that raged two decades ago.

US automaker Ford -- which announced a major restructuring in July -- unveiled plans Friday to reduce its workforce worldwide, without specifying the extent of the plan.

"We are in the early stages of reorganizing our global salaried workforce to support the company's strategic objectives, create a more dynamic and empowering work environment, and become more fit as a business," Ford said late Friday.

A Delhi court Saturday granted bail to RJD chief Lalu Prasad's wife Rabri Devi and son Tejashwi Yadav and others in an Indian Railway Catering and Tourism Corporation (IRCTC) scam case lodged by the CBI.

Special Judge Arun Bhardwaj also granted interim bail till November 19 to Rabri Devi, Tejashwi Yadav and others in a money laundering case filed by Enforcement Directorate (ED) in relation to the alleged scam.

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