The ICICI Bank stock posted its biggest single-day drop in nearly three years amid the ongoing investigations into its lending practices.

Shares of the country’s third-largest lender closed at Rs 261.9, down Rs 16.5, or 5.93 per cent on the BSE, the most since August 24, 2015. The market valuation eroded by Rs 104.52 billion to Rs 1.68 trillion on the BSE.

The Reserve Bank of India (RBI) has asked Axis Bank’s board to reconsider the decision to re-appoint Shikha Sharma as managing director and chief executive officer for a fourth term, amid concerns over rising bad loans at the private sector lender, sources said.

The move comes against the backdrop of persisting concerns over mounting non-performing assets (NPAs) in the banking sector.

New Delhi/Mumbai: Coal India Ltd’s sales and output in March rose to the highest on record as the world’s biggest coal miner rushed to meet its annual production target, a goal that it missed for at least the sixth consecutive year.

Boosting output is crucial for Coal India to meet rising demand from power plants, its biggest customers.

New Delhi: Securities and Exchange Board of India (Sebi) on Monday barred First Financial Services and 28 others from the markets for three years for orchestrating a fraudulent scheme involving preferential allotment route, which ultimately benefited a few allottees.

The move follows Securities Appellate Tribunal’s (SAT) directive to Sebi for passing the final orders in the matter by March this year.

New Delhi: Vedanta, ArcleorMittal and Numetal along with JSW on Monday submitted resolution plans for the debt-laden Essar Steel in the second round of bidding, people close to the development said.

JSW has joined hands with the Mauritius-based investment vehicle Numetal for placing its bid.

With petrol and diesel prices touching multi-year highs, Oil Minister Dharmendra Pradhan today said the government is keeping a close eye on international prices but said there is no going back on free market pricing. He said consumers will benefit if petrol and diesel are brought under Goods and Services Tax (GST) regime at the earliest.

Leading stock exchange BSE will auction investment limits for foreign investors to purchase government bonds worth over Rs 11,000 crore tomorrow.

The auction for investment limits for such securities has been receiving a good response from foreign portfolio investors (FPIs) in recent past.

At least five people - four from Madhya Pradesh and one from Rajasthan - were killed after protests turned violent between Dalit groups and cops in Madhya Pradesh.

Earlier, Dalit organisations called for a nationwide bandh to protest the alleged dilution of SCST Act.

Ford India on Monday reported a 11.06 per cent increase in total sales at 27,580 units in March against 24,832 units in the same month last year.

The company said its domestic sales stood at 9,016 units in March as against 8,700 units in the year-ago month, up 3.63 per cent.

Hyundai Motor India Ltd (HMIL) on Monday reported a 8.8 per cent increase in total sales at 60,507 units in March 2018.

The company had sold 55,614 units in March last year, HMIL said in a statement.

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