India clinched a six-run win in the third game to notch up its first-ever Twenty20 series victory over New Zealand in front of a sell-out crowd at the Sports Hub on Tuesday.

The final encounter of the three-match series for the Paytm Trophy — limited to eight overs a side following a three-hour delay owing to rain — was a nerve-wracking affair.

MUMBAI: Reliance Communications is renegotiating its deal with Canadian investment fund Brookfield along with other potential buyers for a stake in its tower unit, the telecom company said on Tuesday.

The Anil Ambani-controlled company disclosed this in a regulatory filing, after stock exchanges sought clarification from RCom on an ET report that said the Brookfield deal in its earlier form had been called off. RCom shares closed 1.89% lower at Rs 15.55 Tuesday on the BSE, where the benchmark Sensex fell 1.07%.

NEW DELHI: India's tax authorities have begun cracking down on benami assets and those who deposited large amounts of cash in the aftermath of demonetisation but haven't yet filed returns as it intensifies the war against black money.

The income tax department has already seized 541 properties and frozen bank accounts holding funds of about Rs 1,800 crore, said a top department official, adding that more action is expected soon.

Mumbai: The Indian rupee on Wednesday weakened for the third consecutive session to hit a two-week low against the US dollar in the opening trade.

The rupee opened at 64.15 a dollar and touched a low of 65.16—a level last seen on 24 October. At 9.15am, the home currency was trading at 65.14 against the dollar, down 0.19% from its Tuesday’s close of 65.03.

App-based cab aggregator Ola has partnered with Microsoft to build a new connected-vehicle platform for car manufacturers worldwide. While Microsoft’s Azure (its cloud platform) will power the company’s existing connected car platform, Ola Play, Ola will also leverage Microsoft’s Artificial Intelligence (AI) and other productivity tools like office 365 to transform passenger experience. Both firms will collaborate to take this platform to car makers globally, to integrate with vehicle systems, Ola said in a statement. Ola Play will also leverage Microsoft AI and IoT to enhance driver experiences with telematics and navigation guidance; passenger experiences with cloud-based infotainment and productivity; and provide auto manufacturers with custom digital experiences for their customers.

A little over 11,500 MW of thermal generation capacities from 36 power units at 27 stations are idling due to want of coal. These plants, some of which have been shut for about three months, were to receive the dry fuel from Coal India.

According to data compiled by the government, as of October 31, 500 MW unit at the Mejia Thermal Power Station and 600 MW unit at Raghunathpur have been lying idle for about three months. The reason is shortage of coal.

Key indices on Wednesday opened in green. The benchmark BSE Sensex recovered by almost 53 points in early trade today on buying in pharma, IT, consumer durables and FMCG stocks after recent losses.

The 30-share index rebounded by 52.74 points, or 0.15 per cent, to 33,423.50.

The department of telecommunications (DoT) plans to finalise the new telecom policy by February next year while a draft would be ready by the year-end.

"We are trying to bring new telecom policy by February. For this, the working group has started the process. We expect to finalise draft by end of December and place it for public comments," the Communications Minister Manoj Sinha said on Tuesday.

New Delhi-based public sector lender Punjab National Bank is planning to rationalise its branch network by shutting down or relocating up to 300 loss-making branches over the next 12 months.

Sunil Mehta, managing director and chief executive, said turning loss-making branches into profit-making units by tweaking the business strategy was priority.

Finance Minister Arun Jaitley on Tuesday called demonetisation a “watershed moment in the history of Indian economy”. He quoted data extensively to make a case for the announcement by Prime Minister Narendra Modi’s announcement on November 8 last year to put 86 per cent of currency out of circulation.

In a blog and at a press conference later at the Bharatiya Janata Party (BJP) headquarters here, Jaitley said the note ban had achieved its objectives of reducing the cash component in the economy, widening the tax net, exposing unaccounted wealth and reducing anonymity of cash.

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