BENGALURU: Indian IT firms are spending more on education as part of their Corporate Social Responsibility (CSR), said industry apex body Nasscom Foundation on Wednesday.

"Education remains the focus area of IT firms' CSR activities, with 76 per cent of multi-national companies reporting highest spend on it, followed by 18 per cent on gender equality and 12 per cent on hunger and poverty in fiscal 2016-17," said the Foundation at its CSR Leadership Conference here.

Reliance Communications (RCom), which earlier this month defaulted on dollar notes, told bondholders that they would be treated the same as bank lenders in terms of their ability to recover funds, according to Citigroup.

The mobile phone operator controlled by billionaire Anil Ambani, whose failure to pay interest on the dollar notes comes as a high-profile test of the country's new bankruptcy laws, held the call on Monday, Citigroup said in a note to clients dated November 28.

New Delhi: Hyundai Motor India Ltd will introduce its electric vehicle brand Ioniq in India to tap into India’s ambitious plans to have an all-electric fleet in the country by 2030.

Ioniq, the brand under which the South Korean car maker sells electric, hybrid and plug-in hybrid cars globally, is expected to be showcased at the forthcoming Auto Expo scheduled to be held in February 2018, two people privy to the matter said.

In a move that may bring some relief to the troubled private-power sector, state-run NTPC is looking to buy operational power assets that runs on domestic coal. The thermal power firm said that it is specifically interested in power production units which have fuel allocation to adequately run the plants at 85% plant load factor (PLF). Only those units commissioned after April, 2014 are eligible for the acquisition. The power sector in the country is hurt by weak finances of state-owned distribution utilities coupled with the tepid rise in power demand. This has created stressed assets with a capacity of 60 giga watt (GW).

Apart from Tata Group, Air India likely to get more bidders as Jet Airways and SpiceJet reportedly will join the race to buy the national carrier.

Quoting government sources, a report in the Times of India stated, "The economics of the game will change completely for whichever airline gets Air India. With its 14% domestic and 17-18% international market share, getting AI will be a paradigm shift for the successful bidder. Other airlines like Jet and possibly even SpiceJet will have no option but to bid for Air India".

Calling the BJP and its party president Amit Shah a goon, Patidar Anamat Andolan Samiti (PAAS) leader Hardik Patel urged people to change the leadership of Gujarat.

"If they can give you suggestions to rotate your crop periodically why can't you change leaders with your votes," Patel questioned the youth and farmers who had gathered to hear him. The young Patel leader addressed a serie sof 'chock pe charcha' in several villages of Morbi district.

The Trump administration threatened new sanctions on North Korea on Wednesday after the reclusive government shattered two and a half months of relative quiet with its most powerful weapon test yet, an intercontinental ballistic missile that some observers believe could reach Washington and the entire US Eastern Seaboard.

President Donald Trump tweeted that he spoke with Chinese President Xi Jinping about Pyongyang's "provocative actions," and he vowed that "additional major sanctions will be imposed on North Korea today. This situation will be handled!" Trump's top diplomat, Rex Tillerson, said the US could target financial institutions doing business with the North.

Bajaj Auto hit a new high of Rs 3,372, up 1.7% on the BSE in intra-day trade in an otherwise weak market. At 10:18 AM; the stock was the top gainer among the Sensex, up 1% at Rs 3,354. On comparison, the S&P BSE Sensex was down 0.69% at 33,371.

In past three months, Bajaj Auto has outperformed the market by gaining 22% against 5.5% rise in the benchmark index.

State Bank of India has raised its rate on all bulk term deposits by one per cent (100 basis points) from Friday. The revision comes after about a year and also signals the end of a rate easing cycle, said bankers, which had begun in the second quarter of 2015-16.

Bulk deposits are those where amounts kept are at least Rs 1 crore or above. Senior officials at the country's largest bank said interest rates offered on bulk money raised from companies and institutions were below those offered by competing banks. This was affecting corporate relationships, with SBI losing in bids sought by those entities for parking their surplus funds. SBI has seen an outflow of over Rs 70,000 crore from bulk deposits in a year.

Bank of Baroda (BoB) is scaling down its overseas presence as part of a rationalisation process. It is planning to shut down a branch in Hong Kong and a representative office in Thailand.

A senior bank executive said as Hong Kong was the financial hub of Asia it remained a key business centre for the bank and it would continue to strengthen its presence with the remaining branch.

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