India’s largest state-owned lender State Bank of India (SBI) said it has reduced interest rates for retail loans in order to boost lending.‍​

The bank has cut the interest rate on home loans by 5 basis points (bps) to 8.30% per annum—the lowest rate for home loans in the market. The new rate is effective 1 November.

Prime Minister Narendra Modi and US President Donald Trump have resolved to fight against the global scourge of terrorism together, the White House said after Mr. Modi offered his condolences to Mr. Trump over phone following the New York terror attack.

Mr. Trump spoke with Mr. Modi and accepted his condolences following Tuesday’s terrorist attack in New York City that left eight people dead and about a dozen others injured, the White House said.

The principal bench of the National Company Law Tribunal (NCLT) in New Delhi has dismissed Axis Bank’s plea to stake a claim of Rs 397 crore in the ongoing corporate insolvency proceedings against Edu Smart Services. According to the order, Edu Smart was a corporate guarantor for its parent company Educomp Solutions, which had availed a loan from Axis Bank. The order was in response to a plea filed by Axis Bank after Edu Smart’s resolution professional (RP) rejected the bank’s claim filed under the Insolvency and Bankruptcy Code (IBC). The resolution professional informed the tribunal that Axis Bank had already claimed the amount of debt from the principal borrower — Educomp — but failed to disclose this in its application.

October is usually a great month for manufacturers, the start of the festive and of course festive discounts make it even more appealing to the customer. This year the auto-industry has proudly carried forward the tradition, turning the GSTs many overtures to their advantage with most companies posting positive year-on-year growth trends! Of Course, Maruti leads the way with over 1.3 lakh sales cumulatively. More on that here.

The rest of the industry meanwhile were not to be left behind, Hyundai Motor India Ltd. (HMIL) posted domestic sales of 49,588 units for the month of October 2017. A large chunk of which came from the newly launched Hyundai Verna which is a real game-changer in terms of executive sedans.

MUMBAI: Anil Ambanii-led Reliance Communications (RCom) is likely to function as a mobile virtual network operator (MVNO) that will offer 4G services once it sheds its 2G and 3G voice business. This was confirmed by Punit Garg, the telco’s executive director, during a recent media gathering.

Rating agency Fitch expects RCom to gradually exit from the wireless voice business and significantly scale down its operations due to intense competition. It said in the report that the Anil Ambani-owned operator will ‘focus on offering 4G services as a mobile virtual network operator (MVNO) after selling its spectrum assets’. Shares of RCom closed at Rs 17, down 0.87%, on the BSE on Wednesday.

Key indices rose on Thursday after the Federal Reserve kept interest rate unchanged in policy meeting. The US central bank left interest rates unchanged at the end of its two-day policy meet, but remains on path for a possible December hike as it cited "solid rate" of growth

This lifted Asian markets, which in turn made the 30- share Sensex firm up 45.53 points, or 0.13 per cent, to 33,645.80. It rallied 387.14 points to close at a record high of 33,600.27 in the previous session.

An explosion at an Indian power plant killed 20 people and injured up to 100 in the northern state of Uttar Pradesh on Wednesday, authorities said, in one of the country’s deadliest industrial accidents in years.

More than 20 survivors suffered severe burns in the blast in the coal-fired plant operated by state-run NTPC (NTPC.NS), and casualty numbers would probably rise, state police said.

Reliance Industries, the most valuable firm on the bourses, has become the first Indian company to cross the Rs 6-lakh crore market capitalisation on the closing basis.

On Wednesday, RIL settled the day at record high level of Rs 952, up 1.2% with a market cap of Rs 6.03-lakh crore. In intra-day trade, the stock hit a high of Rs 957 with a market cap of Rs 606,328 crore.

The wait for your pre-booked JioPhone might get over soon as Reliance Jio reportedly will complete the delivery of Reliance Jio phone in the next 15 to 30 days.

Various media reports suggest that the delivery is expected to happen by the end of November as the phones already had reached smaller towns and retailers have started delivering these phones.

The country's state-owned refiners are exporting low-sulphur diesel in a seldom seen flow of products as crude processing capacity returns amid a drop in demand due to a new sales tax and as regional flooding cuts fuel use, industry sources told Reuters.

The exports are expected to continue until year-end, likely weighing on low-sulphur cash differentials, the sources said, which have already dropped by half from a post-hurricane spike above $2 on US import demand.

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