Retirement fund body EPFO has tightened norms on withdrawal of provident fund (PF) as well investment of such amount in Varishtha Pension Bima Yojana for its over five crore subscribers.

“Now, the subscribers will not be able to claim withdrawal of their provident fund after attaining age of 54 years. They would have to wait till attaining the age 57 years. The ministry has notified new rules," a senior official told PTI.

The Reserve Bank of India (RBI) asked lenders to spread out, in equal instalments, provisions they make when they take over troubled loan accounts under a special restructuring programme to deal with stressed assets.

The RBI asked banks to build up over four quarters provisions amounting to at least 15% of the loan for so-called strategic debt restructuring (SDR). In that programme, banks will swap part of the loan for majority ownership of a troubled company and then look for a new owner.

Microsoft announced today that it has acquired Xamarin, a company that allows developers to build fully native apps across several platforms from a single shared code base.

Microsoft and Xamarin have worked closely together since a global partnership was announced in 2013 to make it more simple for mobile developers to build native apps on platforms in Visual Studio.

Mumbai: India’s benchmark Nifty index fell for a third-straight day to its lowest close in more than 20 months on Thursday as investors were nervous ahead of Union budget to be unveiled on Monday.

Expiry of monthly derivatives contract also kept the markets choppy.

Mumbai: Retail investors on Wednesday showed little interest in the government’s Rs.5,000 crore share sale in power producer NTPC Ltd, subscribing to less than half the shares reserved for them on the second of the two-day offering.

Of the total 82.45 million shares on offer, retail investors placed bids for 36.36 million shares, stock exchange data showed. In all, 632.57 million shares were bid during the two-day offer for sale against the total size of 412.27 million shares.

New Delhi: Infosys Ltd’s board on Wednesday decided to extend Vishal Sikka’s tenure as chief executive officer (CEO) by two years to 2021, crediting him with putting India’s second largest software services firm back on the growth path.

The extension gives Sikka, who took over as Infosys’s first non-founder CEO in August 2014, a chance to steer Bengaluru-based Infosys towards its 2020 goal of becoming a $20 billion company by annual revenue.

The rupee rose by 7 paise to 68.50 against the dollar in early trade on Thursday at the Interbank Foreign Exchange market on fresh selling of the U.S. currency by banks and exporters.

Forex dealers said a higher opening in the domestic equity market and a weakening dollar against other currencies overseas supported the rupee. On Wednesday, the rupee had ended almost flat as it gained one paisa to 68.57 following fag-end selling of the American currency by banks and exporters.

In an unconventional move, Finance Minister Arun Jaitley will meet economists and market experts on Saturday, barely 48 hours ahead of his Budget speech on Monday. Minister of State Jayant Sinha and other key Finance Ministry officials will be part of the meeting, sources said.

While the agenda is under wraps, it is learnt that the Finance Ministry sent out invitations over email on Tuesday for the 90-minute meeting that is scheduled to start at 11 am.

In our Q3FY16 result review note, we mentioned that the total outstanding 5/25 cases for PNB amount to Rs 10,000 crore. The management clarified that the same is Rs 6,800 crore pertaining to 13 accounts, out of which cases amounting to Rs 30-40 billion have already been classified as NPA. The SDR cases undertaken by the bank amount to Rs 7,000 crore, also in 13 accounts. Out of this, Rs 758 crore has already been classified as NPA, Rs 5,600 crore worth cases have come from the standard restructured book, while the balance Rs 700 crore is from the standard book.

L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen & Toubro (L&T), has signed a long-term agreement with McDermott International - the US-based engineering, procurement, construction (EPC) and installation company - focused on subsea projects in deepwater segment emerging on the east coast of India.

Under the agreement, L&T Hydrocarbon and McDermott will develop a cost-effective approach which will utilise LTHE’s strategically located Kattupalli facility near Chennai for fabrication and setting up of a local spool base in India.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.