Country's largest lender State Bank of India (SBI) is finalising plans to set up a subsidiary for managing its large portfolio of real estate properties and those taken on lease or rent.

"SBI is planning to set up a subsidiary for management of properties owned by it and also for those taken on lease or rent," a senior official of the bank said.

The Securities and Exchange Board of India (Sebi) is set to unveil rules on monitoring the end use of green bonds, and might propose incentives for companies to issue them at its board meeting on November 30 (next Monday).

“Sebi is working on regulations that will incentivise companies to launch green bonds. We would like these bonds to be listed on the domestic exchanges instead of on overseas exchanges,” said a source privy to the development.

The BSE Sensex and NSE Nifty snapped two day losing streak on Thursday and closed 182.89 points and 52.20 points up at 25,958.63 and 7,883.80, respectively. Benchmark indices rose on hopes that the Parliament would consider a key reform on goods and services tax (GST) and some short coverings also uplift market mood on the last day of F&O expiry.

In the 50-share index, Tata Motors, Sun Pharma, Idea Cellular, GAIL and Reliance Industries gained between 2.35 per cent and 5.50 per cent.

New Delhi: Bihar chief minister Nitish Kumar has announced a ban on sale of liquor in state from 1 April, keeping one of his pre-poll promises.

Voicing his concern for women suffering on account of alcoholism of men, Kumar said the ban was important. “We tried to impose this ban in 1977-78 as well but it was not effective.

After months of uncertainty, India have agreed to play a short bilateral series with Pakistan in 'neutral' Sri Lanka. The arch-rivals will play three ODIs and two Twenty20 internationals from December 15.

According to NDTV, the confirmation of the series was announced on Thursday after the Pakistan Cricket Board and Board of Control for Cricket in India obtained green signal from their respective governments.

NEW DELHI: Engineering major Larsen & Toubro (L&T) on Thursday said power transmission and distribution business of L&T Construction has bagged orders worth Rs 1,038 crore in domestic and international markets so far this month.

"The power transmission and distribution business of L&T Construction won orders worth Rs 1,038 crore in international and domestic markets in November 2015," the company said in a BSE filing.

Indian ride-sharing company Ola boosted its efforts to beat Uber this month when it closed its $500 million Series F round, and, fresh off the heels of that news, it has confirmed the hiring of a new CFO.

Rajiv Bansal, a 21-year finance veteran who was formerly CFO at Indian IT giant Infosys, will join Ola in January 2016. Mitesh Shah, Ola’s current CFO, will make way by moving to a new role in charge of “strategic finance initiatives.”

New Delhi: The Employees Provident Fund Organisation (EPFO), the state-run retirement funds manager, has written to the finance ministry seeking permission to invest more in government securities, including so-called state development loans—bonds issued by state governments in a process overseen by the Reserve Bank of India (RBI).

The move has been prompted by its dissatisfaction with the quality and quantity of corporate bonds and other corporate credit instruments on offer.

New Delhi: Nudged by the government, banks will soon provide a pre-approved overdraft facility, which can be accessed directly from the ATMs, without the need for customers of financial inclusion programme Pradhan Mantri Jan Dhan Yojana to visit the bank branch for prior approval.

State Bank of India will be the first to roll out the facility next month. An emailed questionnaire sent to SBI’s spokesperson remained unanswered.

Mumbai/Tokyo: After trust issues doomed Suzuki Motor Corp.’s alliance with Volkswagen AG, the Japanese car maker now has to win over shareholders sceptical of plans for its crucial partnership with India’s largest car maker.

Suzuki wants to set up a wholly owned factory in India and supply cars and components to its 56%-owned unit Maruti Suzuki India Ltd. It’ll have to win over Maruti minority shareholders concerned that plans to have Suzuki focus on production and Maruti concentrate on sales and distribution will sideline the Indian unit.

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