Prime Minister (PM) Narendra Modi on Sunday ruled out a single slab for the goods and services tax (GST), stating that milk and the Mercedes could not have the same rate.

The GST regime was rolled out on July 1 last year. The central government on Sunday marked its first anniversary with an event in New Delhi, while Modi took to social media to showcase its advantages.

The rupee strengthened by 13 paise to 68.33 against the dollar in early trade on Monday on increased selling of the US currency by exporters and banks amid higher opening in the domestic equity market.

Forex dealers said a higher opening of the domestic equity market supported the rupee but the dollar's strength against some currencies overseas capped the gains.

China fulfilled a pledge to slash tariffs on imported cars Sunday, but the respite for auto makers who export to China from the US will be brief as Beijing prepares to slap an additional 25% tariff on US auto imports this Friday.

Ford Motor Co. and Tesla Inc, as well as Germany’s BMW AG and Mercedes-Benz maker Daimler AG —which build premium sport-utility vehicles in the US and ship them to China—stand to suffer the most.

Details of Microsoft’s secret Surface device codenamed “Andromeda” that it reportedly plans to release in 2018, have been leaked, suggesting it may come with a dual-display design, the media said. The “pocketable Surface device” that has appeared multipla times in patents is something the company has quietly incubated internally.

Reliance Industries has signed an agreement to acquire US-based open telecom solutions provider Radisys, according to a statement.

The cash acquisition is aimed at cementing Jio's position in futuristic areas such as 5G and Internet of Things (IoT).

India's largest thermal power generator NTPC Limited announced equity acquisition of two state-owned power plants in Bihar for an estimated Rs 21 billion. NTPC took 50 per cent equity stake in Nabinagar Power Generating Company Pvt. Ltd. (NPGC) and 27.36 per cent Kanti Bijlee Utpadan Nigam Limited (KBUNL) from Bihar State Power Generation Company – which was operating it earlier.

Lending major State Bank of India (SBI) on Saturday said that the central government has permitted its Managing Director B Sriram to take voluntary retirement.

The development assumes significance as Sriram was recently appointed the chief of financially troubled IDBI Bank.

Rajkumar Hirani’s latest directorial venture, Sanju, has given actor Ranbir Kapoor the biggest opener of his career at Rs 347.5 million. The biopic on actor Sanjay Dutt’s life released on June 29, and raced to the top of the list of highest openers of the year, beating Padmaavat, Avengers: Infinity War and Race 3 in the process.

MUMBAI: The Insurance Regulatory and Development Authority of India (IRDAI) has agreed to the Life Insurance Corporation (LIC) of India’s proposal to hike its stake to 51 per cent in IDBI Bank from 10.8 per cent at present. The permission is subject to the corporation bringing down its holding to 15 per cent in future.

New Delhi: Private sector lender Yes Bank and Goldman Sachs on Friday settled a Sebi probe into alleged violation of listing and disclosure norms as well as merchant banker regulations, respectively.

Individually, Yes Bank has paid Rs 40.8 lakh, while Goldman Sachs (India) Securities has remitted Rs 20.80 lakh towards settlement fees, the regulator said in separate orders.

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