New Delhi: The government may not infuse about Rs21,000 crore in the promised equity into Air India Ltd once the state-owned airline is privatised, a top official said.

Air India was promised Rs50,000 crore in equity infusion until 2032 by the previous United Progressive Alliance government in 2012 to bail out the airline weighed down by accumulated losses and debt.

Shares of lenders to Anil Ambani-controlled Reliance Group (ADAG) declined on Wednesday as group companies witnessed selloff amid concerns over default in interest payment by Reliance Communications (RCom), the group’s telecom unit. Among the lenders who have an exposure to RCom, the stock of Corporation Bank declined the most with a fall of close to 7%. It was followed by Dena Bank (down 3%), IDBI Bank (down 2.3%). Although the shares of Bank of Baroda ended the session in green, the stock had lost nearly 3% of its value during the day. Other lenders including State Bank of India, Punjab National Bank, Canara Bank, Bank of Maharashtra and IFCI also slid over 2% each during intra-day trade.

Sensex and Nifty recoiled a little and opened marginally higher on Thursday after yesterday’s slump. BSE Sensex gained 69.38 points to open at 32,829.82 points while NSE Nifty added 34.85 points to start at 10,152.9. Meanwhile, most of the Asian markets firmed on Thursday. Within minutes of trading, the benchmark Sensex jumped 163.8 points to hit the day’s high at 32,924.24 while the broader Nifty advanced 50.85 to mark a day’s high at 10,168.9. The shares of RIL and Airtel were among the top gainers on Sensex.

MUMBAI: The Securities and Exchange Board of India has attached all bank accounts, securities and mutual fund units held by Vijay Mallya-owned United Breweries Holdings Limited (UBHL).

The regulator said UBHL has defaulted on the payment of a penalty imposed by it in 2015. It has directed banks, depositories and mutual funds not to allow any debit in their accounts. However, credits have been allowed. Sebi had imposed a penalty of Rs 15 lakh in 2015 for disclosure lapses by United Breweries Holdings.

While Delhi choked on toxic smog in the past two winters, the AAP government sat on a fund of Rs 787 crore generated as environment compensation charge (ECC) since it came to power in 2015, an RTI query has revealed. The fund was meant to improve transport infrastructure and cut down on pollution in the city. However, the government has till date spent only 0.11% (Rs 93 lakh) of the total amount.

The RTI response came on day when Delhi Chief Minister Arvind Kejriwal met his Haryana counterpart ML Khattar in Chandigarh to discuss measures to cut down on toxic air pollution levels by curbing crop stubble burning.

India Kawasaki Motor has launched the 2018 Versys 650 in India. Kawasaki silently introduced the new edition of the adventure tourer priced at Rs 6.50 lakh (ex-showroom). The new Versys comes better graphics, however, the green and black paint job remain the same. The new model can be called a facelift as Kawasaki has not made any changes to the mechanicals. It continues to be powered by the 650cc twin-cylinder engine. While the mechanicals remains the same, the 2017 instrument console has been updated with a gear position indicator and an adjustable flyscreen has also been added. The 2018 Versys 650 has only been given minor upgrades but reports suggest that an all-new version is in the works. It will have underpinnings from the new Ninja 650 and will prove to be a better off-roader with improved performance and sharper styling.

The civil aviation ministry will soon launch a portal for security clearance-related works for various entities in the sector as part of efforts to improve the ease of doing business.

The portal would do away with paperwork with respect to seeking security clearances, according to Civil Aviation Secretary R N Choubey.

State-owned ONGC and Vedanta Ltd on Wednesday emerged as the biggest bidders for oil and gas blocks, putting in 41 out of 56 bids received in India's maiden auction under open acreage licensing regime.

Oil and Natural Gas Corp (ONGC) put in expression of interest for 41 areas while Vedanta's oil unit, Cairn India sought rights over 15 areas, sources privy to the development said.

US-CERT, the Department of Homeland Security team responsible for analyzing cybersecurity threats, has posted a warning about cyber attacks by the North Korean government, which it collectively refers to as “Hidden Cobra.” The technical alert from the FBI and Department of Homeland Security says a remote administration tool (RAT) called FALLCHILL has been deployed by Hidden Cobra since 2016 to target the aerospace, telecommunications and finance industries.

Mumbai: State Bank of India (SBI) has initiated the process of selling Rs1,580 crore of bad loans to financial institutions, including asset reconstruction companies (ARCs).

The bank has put on block 11 non-performing assets (NPA) for sale through a bidding process, according to a tender on the bank’s website.

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