MUMBAI: Over 8000 customers of state-run lender Bank of Baroda found their current and savings account erroneously debited with NEFT and RTGS transaction charges after the process of upgrading the bank’s core banking software led to technical glitches in the NEFT, RTGS and outward clearing-related transactions.

“Approximately 8300 accounts were also impacted on August 19, 2017 on account of erroneous debit of service charges that were not due from the customers,” the bank said in a statement on its website dated August 22. “These charges have since been reversed and impacted customers have been duly informed via SMS on August 20, 2017.”

NEW DELHI: Automakers are in an overdrive mode to woo government employees, trying to boost sales in a segment where the potential customer just got more money on hand with a pay-out of salary arrears.

Government employees including armed forces personnel have always been a key customer segment for automakers. But they have become far more important at a time when the companies fear the recent move to increase the cess on large cars to destroy a pickup seen in demand. The salary hike under the Seventh Pay Commission recommendations and the payment of arrears would, industry executives hope, cushion the impact.

Coal India's expenses are likely to shoot up by Rs. 5,500-6,000 crore every year, as the company has conceded to a 20 per cent wage hike apart from other benefits. This in turn, is likely to pull down the company's projected profitability by a minimum of nine per cent.

Projecting a boost in coal demand, sector analysts had projected a Rs 11,000-13,000 net profit for Coal India for the entire year, however, post the wage revision, the same has been downgraded to range between Rs. 9,000-10,000 crore.

Facebook-owned instant messaging platform WhatsApp has shared details of how businesses will be able to communicate with the two billion-odd users on its platform - marking the first real attempt of the company to monetise its service.

Hidden in the company's FAQ section on its website, WhatsApp says business profiles verified by it will carry a green badge, similar to how parent Facebook verifies businesses with a blue tick. However, the statement did not share any details on whether the company was charging businesses for the service or not.

Turning cautious about the two real estate companies facing insolvency proceedings, the State Bank of India, country’s largest lender, has begun review of loans to buy home in unfinished projects by Jaypee Infratech and Amrapali.

SBI also indicated that as a prudent step, it would prefer to extend loans to buy residences in finished projects.

Infosys on Monday said some of its founders would participate in the company’s share buyback, a disclosure that comes after Nandan Nilekani became chairman of the firm to stem the crisis that emerged after Vishal Sikka’s exit as chief executive officer (CEO).

Sikka was the first non-promoter CEO in the company. The founders, who, along with their family members, are categorised as the promoter group, hold 12.74 per cent or a little more than 292 million equity shares in the information technology (IT) services major.

The government on Tuesday will sell up to 10 per cent in power utility NTPC for Rs 13,800 crore in one of the biggest disinvestment deals. The two-day offer for sale (OFS) will have a core component of 412 million shares (five per cent stake), with a greenshoe option to sell another five per cent. If the OFS is fully subscribed, it will be the third-biggest divestment deal ever by the government.

So far, the biggest share-sale by the government is the Rs 22,500-crore OFS in Coal India in 2014-15, followed by a Rs 15,200-crore initial public offering (IPO) of the coal miner in 2010.

Royal Enfield has started commercial production at its new manufacturing facility at Vallam Vadagal near Chennai.

Spread over 50 acres, the Vallam Vadagal plant will be Royal Enfield's third manufacturing facility and will manufacture Royal Enfield motorcycles for India and international markets.

Gold prices turned soft on Monday, down Rs 50 at Rs 29,900 per 10 grams, owing to slack demand from local jewellers despite a positive global trend.

Silver was unchanged at Rs 40,200 per kg in scattered deals from industrial units and coin makers.

Securities market regulator Sebi has cautioned the youth against falling for any scheme promising abnormal returns, especially ponzi ones.

"Instead of going through allurement, investors are advised to go through terms and conditions of the scheme carefully before investing," Sebi DGM Surya Kant Sharma said today while delivering his keynote address at a seminar in Amar Nath Girls Degree college in Mathura.

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