Ujjivan Financial Services, the microfinance lender that was granted licence to convert into a small finance bank, has filed draft papers with markets watchdog Sebi to raise at least Rs 650 crore through an IPO.

This is the second microfinance institution after Equitas Holding to approach the Securities and Exchange Board of India (Sebi) for an IPO this year.

NEW DELHI: As the clock ticked eight, the odd- even vehicular restriction policy of the Delhi government came into effect today with thousands of volunteers taking to the streets to assist traffic police in enforcing the pilot plan that will stay in force in the national capital till January 15.

As per the scheme, cars bearing odd-numbered registration plates shall ply on city roads today while those with even number plates, if taken out, will attract a penalty of Rs 2,000 under relevant sections of the Motor Vehicles Act.

State-run Canara Bank and private lender Yes Bank on Thursday announced raising Rs 1,500 crore each by issuing Basel III compliant tier-II bonds.

"Bank has successfully raised Rs 1,500 crore of Basel-III compliant tier-II bonds. The issue was closed on December 31, 2015," Yes Bank said in a regulatory filing.

NEW DELHI: Continuing his meteoric rise, Indian Test captain Virat Kohli was on Thursday named 'Cricketer of the Year', while Mithali Raj was picked for the top women's award in the BCCI annual honours to be given away on January 5 in Mumbai.

The 27-year-old batsman, who took over as captain in the middle of the tour of Australia after Mahendra Singh Dhoni's sudden retirement, delivered some good results.

New Delhi: In a technology boost to Indian Railways, the government on Wednesday introduced a so-called head on generation (HoG) system on the New Delhi-Mumbai Rajdhani that would save Rs.5.5 crore in power costs annually.

The technology has been introduced on a long-haul train for the first time in India.

New Delhi: An Air India plane flying to London was forced to return to Mumbai after passengers spotted a rat on board, the airline said on Thursday.

Though the rat was not found, the pilot returned to Mumbai on Wednesday keeping passenger safety in mind, Air India said in a statement.

MUMBAI: In a sudden move, A M Naik chairman of engineering conglomerate, L&T has stepped down from his post as second-time chairman of the Indian Institute of Management . In a letter addressed to the HRD minsitry, A M Naik is understood to have officially cited time constraints behind his decision to quit the post.

The move has taken the academic circles by surprise given Mr Naik's huge interest and involvement in the growth of IIMA. Speculations within the academia point towards ego tussles between the institute and the HRD ministry which however remain unconfirmed.

Markets scaled higher on the last day of December derivatives series due to strength in energy and index heavyweight shares such as HDFC and Infosys.

The S&P BSE Sensex ended higher 158 points at 26,118 and Nifty50 ended up 50 points at 7,946.

Microsoft Corp said on Wednesday it will begin warning users of its consumer services including Outlook.com email when the company suspects that a government has been trying to hack into their accounts.

The policy change comes nine days after Reuters asked the company why it had decided not tell victims of a hacking campaign, discovered in 2011, that had targeted international leaders of China’s Tibetan and Uighur minorities in particular.

Wipro is in the final stages of fully acquiring Drivestream, a management and IT consulting firm in which it had picked up a minority stake in March, reports Deborshi Chaki in Mumbai. Company sources told FE that a formal announcement was expected in January. Headquartered in Washington, DC, Drivestream provides Oracle-based cloud services across sectors ranging from insurance, healthcare to telecom and lists several Fortune 500 companies as its customers. Drivestream was founded by Indian-origin entrepreneur D Gopal Krishna in 2002 and has delivery centres in the US and in Chennai.

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