New Delhi: The Employees Provident Fund Organization (EFPO) on Monday fixed 8.65% as the interest rate on Employees Provident Fund (EPF) deposits for its over four crore subscribers for the fiscal 2017.

The retirement fund body was expected to retain 8.8% as the rate of interest on PF deposits at its trustees meeting on Monday.

New Delhi: To prevent unscrupulous elements to convert black money into white through multiple small deposits into bank accounts in the last phase of demonetisation, the finance ministry has put fresh restrictions on deposits of old Rs500 and Rs1,000 notes into bank accounts.

According to a notification published on the Gazette of India, the finance ministry said demonetised high value currencies worth more than Rs5,000 can be deposited only once into a bank account up to 30 December. Further conditions will be separately notified by the Reserve Bank of India.

Earlier we told you about the next-gen Swift production images being revealed on the internet. Now, the 2017 Swift hatchback brochure has been leaked on the internet via Suzuki Blog. According to the leaked images, the all new generation Swift will be 15 percent lighter in weight and the design is now sleeker than the current generation Swift.

In terms of power, the Japan-spec version of new Swift might be powered by a 1.0 litre turbocharged and 1.2 litre petrol engine. The all new Swift will also get the SHVS as an option, although it's not clear if this technology will be offered in India as well, once the car gets launched here.

Hit by irregularities by some of its employees, Axis Bank said it has taken "unprecedented step" of temporarily suspending some of the suspicious accounts and has a rigorous compliance procedure.

The bank further said that it has already filed Suspicious Transaction Reports (STRs) with the Financial Intelligence Unit (FIU-IND) about the potentially suspect accounts which were later probed by investigative agencies.

National Aluminium Company Limited (Nalco) and NTPC Ltd have entered into an MoU to form a joint venture namely NTPC-Nalco Power Company (NNPC) for developing power projects and other business collaborations in India.

The JV plans to set up its first power plant at Gajamara (Odisha) with a capacity of 2,400 MW (3X800 MW), at an estimated investment of Rs 14,000 crore. The proposed super critical power plant will supply uninterrupted power to Nalco’s smelter at Angul. The process for acquisition of 1,600 acres of land in Gajamara has already commenced.

NEW DELHI: Renuka Talwar, daughter of DLF Chairman KP Singh, has acquired a bungalow on Prithviraj Road for Rs 435 crore in one of the biggest deals for a property in Lutyens' Delhi, according to people with knowledge of the matter.

The seller was Kamal Taneja, managing director of real estate developer TDI Infracorp. Located on a 4,925 sq metre plot, the bungalow has a builtup area of around 1,189 square metre and was sold for Rs 8.8 lakh per sq m. Based on current circle rates, its value is around Rs 383 crore.

Mumbai, Dec. 18: The rise in digital transactions following demonetisation has had a positive impact on SBI Buddy, the 19-month-old e-wallet from the country's largest bank.

The number of transactions has increased almost four times, with daily transaction at around 80,000. During the period ended September, the product had more than five million registrations.

Falling for the fourth straight session, the benchmark BSE Sensex surrendered another 82 points to quote at 26,406.99 in early trade today on sustained selling by investors and funds amid weak Asian cues. The 30-share barometer was down 82.04 points, or 0.31%, to 26,406.99 in early trade, with sectoral indices led by consumer durables, auto, realty and banking trading lower.

Having set a target of Rs 1 lakh crore revenue from its FMCG business by 2030, diversified ITC is looking to create "world-class Indian brands" by leveraging on its enterprise strengths.

Buoyed by the successful launches of brands such as Classmates, Sunfeast and Aashirvaad, which are now Rs 1,000 crore-Rs 3,000 crore labels, the company is looking to expand footprints in existing as well as new categories, such as fresh fruits, vegetables and sea foods businesses, to meet the "audacious" goal that it has set for itself.

The Enforcement Directorate (ED) has registered a money laundering case in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida for conversion of black funds into white post demonetization. The individual, identified as N Paswan, in his complaint filed with the police has claimed that his identity has been forged and a current and a savings account were opened in his name in the said branch which were allegedly used to launder crores of rupees post demonetization.

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