New Delhi, Sept. 8: Maruti Suzuki India, the country's largest car maker, is likely to set up its fourth production line at the company's Gujarat plant, chairman R. C. Bhargava today said.

The new production line, which plans to produce 2.5 lakh units per annum, will take the plant's total capacity to a million units.

New Delhi: Madhya Pradesh, India’s second largest state, has appealed to the country’s top court to quash a Goldman Sachs-backed solar project, highlighting the challenges faced by solar companies looking to expand in Asia’s third largest economy.

Madhya Pradesh’s attempts to scrap the agreement with ReNew Power over the 51 megawatts (MW) project, citing land acquisition delays, were thrown out by a state court.

The recommendations of the inter-ministerial group (IMG) on telecom seem to have run into some legal complications. The Telecom Commission (TC) headed by its chairperson and department of telecommunications secretary Aruna Sundararajan, which met on Friday to discuss the report, decided to send it back to the panel seeking clarifications on certain issues. Sources said that the IMG is expected to provide the clarifications in two weeks after which the TC would meet again to deliberate on it.

Punjab National Bank and state-run firm BSNL today teamed up to roll out open mobile wallet Speedpay across 10 states in the country. PNB’s Speedway wallet will operate like any other mobile wallet for paying bills, recharging phone besides its users will be able to deposit and withdraw money from authorised retail outlets. Also, Speedway users will be able to operate Internet banking services from the application. “India is now second largest market in the world with 120 crore mobile users. Congratulating BSNL, Punjab National Bank and the technology partners in helping India moving towards less cash economy,” Telecom minister Manoj Sinha said at an event to mark the agreement signing ceremony between BSNL and PNB.

With over 500 of its pilots and cabin crew coming under the DGCA scanner for skipping mandatory alcohol tests, Air India has told the regulator that there has been no violation even as a pilots’ grouping has threatened to go on protest if any action is taken. The DGCA has found 132 pilots and 434 cabin crew of Air India to have allegedly skipped the mandatory pre- and post- flight alcohol test this year and they face the prospect of being grounded. Air India pilots’ union ICPA has threatened to go on protest against a senior official at the DGCA if the airline staff are suspended.

The top management of Infosys claimed that it has received positive reassurance from the client community during its massive outreach initiative in light of dramatic exit of CEO Vishal Sikka and co-founder Nandan Nilekani coming back as chairman last month. “The feedback from our clients has been positive and we have not seen anything unusual. We are now very much focused on execution,” Infosys interim CEO U B Pravin Rao said during the Citi Global Technology Conference 2017 held in New York on Thursday.

Mumbai: India's market regulator, the Securities and Exchange Board of India (Sebi), has decided to retain the power to take a final call on the definition of 'control' in mergers and acquisitions after the government advised it not to change the current regulation.

In 2016, Sebi had proposed to adopt the so-called bright-line tests for acquiring control under the takeover code. The regulator had proposed to provide a list of illustrative rights below the control definition which would state that following rights either individually or collectively won't tantamount to control.

The Haryana Police on Saturday found illegal explosives factory inside the premises of Dera Sacha Sauda, as the sanitisation operation continued on the second day in Sirsa.

"Illegal explosives factory inside Dera Sacha Sauda premises is sealed. Explosives and fire cracker have been seized," said Haryana's Information and Public Relations Department Deputy Director, Satish Mehra.

State Bank chairman Arundhati Bhattacharya on Friday urged small and medium enterprises (SMEs) to focus on raising funds through equity instead of debt to drive their businesses in a healthier manner.

She said SMEs' relying more on debt for their growth capital in the initial stage of their business put pressure on their balance sheets.

Finnish communications company Nokia and Chinese telecom gear maker ZTE has bagged the Rs 6,000-crore network expansion project of state-owned Bharat Sanchar Nigam Ltd (BSNL).

"We have issued the advance purchase order to Nokia and in the next 10 days it will be issued to ZTE, " said BSNL chairman and managing director Anupam Shrivastava.

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