The re-auction of embattled businessman Vijay Mallya's Goa property, Kingfisher Villa, yet again turned out to be a damp squib on Thursday despite a reduction in reserve price by 5% to Rs 81 crore by lenders. This is the second failed attempt by the 17-lender consortium this week to recover its dues of over Rs 9,000 crore from Mallya by selling his prime assets.

On Monday, the lenders failed to get any buyer for Kingfisher House in the city, when it was put under auction for the third time. "There was hope that Villa could get some buyer this time, but unfortunately, none of the bidders came forward. The auction failed this time as well," a source said.

Moody's Investors Service on Thursday said that Reliance Communications' ratings will "remain on review for downgrade" despite the company signing an agreement with Canada-based Brookfield Infrastructure to sell its tower assets.

Reliance Communications' (RCom's) "B1 corporate family and senior secured ratings remain on review for downgrade despite signing a binding agreement with Brookfield Infrastructure (unrated) in relation to the sale of RCom's tower assets," a Moody's statement said.

Apple Inc is discussing with the Indian government the possibility of manufacturing its products in the country, according to two senior government officials, as the company seeks to grow its sales and presence in the South Asian nation.

In a letter to the government last month, the firm outlined its plans and sought financial incentives to move ahead, the officials told The Wall Street Journal. Senior trade ministry authorities in recent weeks met to discuss the matter. An Apple spokesperson didn’t respond to requests for comment.

In order to encourage digital transactions, the Finance Ministry today asked PSU banks to restrict fees on payments through IMPS and UPI to the extent that is applicable for NEFT fund transfer of over Rs 1,000. As per RBI norms, NEFT transfers of up to Rs 10,000 attract Rs 2.5 fee. From Rs 10,000-1 lakh the fee is Rs 5; on Rs 1-2 lakh it is Rs 15, and beyond Rs 2 lakh it is Rs 25. Service tax is charged in addition to this.

Three senior bureaucrats, including Economic Affairs Secretary Shaktikanta Das, are believed to be in contention for the post of capital market regulator Sebi chairman after the extended tenure of incumbent U K Sinha ends early next year.

The process for choosing the next chief of the Securities and Exchange Board of India (Sebi) started in September and the government has received many applications. The current tenure of Sinha, who has been at the helm of the watchdog since February 2011, ends on March 1 next year.

The Nifty settled marginally lower in a dull trading session on Wednesday, in the absence of any major cue. After a flat start, it hovered in a narrow range till late, but a slide in the last one hour of the trade pushed it into negative territory. The Nifty finally closed 21.10 points lower at 8,061. Most sectoral indices also followed suit and closed on a flat note.

Market experts said that the boredom continues in the market for the fifth consecutive session as the participation from strong hands seems missing towards the fag end of the calendar year.

The much awaited film 'Dangal' starring Aamir Khan will not light up the silver screen in Pakistan.

Contrary to reports suggesting that Bollywood films will now enjoy a free run in the neighbouring country, the Nitesh Tiwari directed flick will not be released in Pakistan.

New Delhi: Board exams for Class X are set to become compulsory for all Central Board of Secondary Education (CBSE) students from 2018 as CBSE’s governing body on Tuesday “unanimously approved” a proposal in this regard. At the meeting of the governing body, its members agreed that from the academic session 2017-18, compulsory Board exams should be introduced for all students of Class X, people aware of the development said.

MUMBAI: The Brookfield Group is set to sign as early as Wednesday a definitive agreement with Reliance CommunicationsBSE 8.70 % to buy a majority stake in the Anil Ambani-controlled telecoms company’s tower unit for about Rs 11,000 crore.

The companies signed a non-binding pact on the transaction on October 14. The deal values the tower assets at more than Rs 21,500 crore. As per the understanding, the assets of RCom’s tower unit, Reliance Infratel, will be transferred to a special purpose vehicle.

MUMBAI: State Bank of India's arm is planning to come out with credit cards for anyone who has a Rs 25,000 fixed deposit in any bank. The card will not have any charges and will be available without any proof of income or a credit history. The bank's subsidiary, SBI Cards, also plans to issue credit cards to students of top 100 educational institutions in India without any income proof.

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