Expressing concern over illegal Rs 6,000 crore transfer of funds through a Bank of Baroda branch, RBI Governor Raghuram Rajan said it will be pursued both by the central bank and investigative agencies to the “ultimate conclusion” to ensure that the guilty are made to “pay the price” for it.

He also said that if not pursued quickly, such frauds create an atmosphere of impurity which then breeds more such practices.

NEW DELHI: Shares of Reliance Industries rose over 1 per cent in morning trade on Friday ahead of its September quarter earnings, which will be announced post market hours today.

The oil & gas major is expected to report 3.2 per cent year-on-year (YoY) growth in net profit at Rs 5,926 crore for the quarter compared with Rs 5,742 crore reported for the year-ago quarter, said an ET Now Poll.

Shrugging-off positive global cues, the benchmark BSE Sensex fell 51 points to drop below the 27,000-level in early trade on Friday on profit booking amid exports falling for the 10th straight month in September.

Furthermore, profit-booking by participants after Thursday's gains, dampened sentiments.

Tata Motors, which had lost the tag of the country’s most valued automobile company to Maruti Suzuki in July this year, has added Rs 29,000 crore to its market capitalisation in the past 11 trading sessions.

This has come on the back of a 36 per cent surge in the stock price, triggered by improved outlook for sales of its Jaguar Land Rover arm. JLR, its luxury vehicle business, accounts for 83 per cent of the consolidated revenue. Maruti Suzuki, which has rallied almost 50 per cent in a year on improving market share and margins, has a market cap of Rs 132,306 crore (as on Thursday).

The Securities and Exchange Board of India (Sebi) has moved the Supreme Court, seeking a restraint order on the plans of realty major DLF to monetise its rental properties. The court has admitted the application and listed it for hearing on October 30.

Last week, debt-laden DLF had said some promoter group entities planned to sell about 40 per cent stake in DLF Cyber City Developers, the company holding its rental assets, to third-party investors. The transaction was to raise Rs 12,000-14,000 crore.

KOLKATA: Some 40,000 officials at Coal IndiaBSE 2.14 % have a reason to splurge this festive season. They are set to receive arrears for eight years of performance related pay which, senior Coal India officials said, will vary from Rs 3 lakh on the lower side to Rs 15 lakh for the top rung.

Officers of the loss-making subsidiaries of the state-run company would benefit the most, as they would be eligible to also receive an additional pay revision, which has been implemented in its profit-making units.

Railways Minister Suresh Prabhu on Wednesday said his ministry would lay out a massive investment plan of $140 billion to modernise the service and improve safety and passenger amenities.

“There is an unprecedented focus on modernisation and safety aspects with the five-year investment plan of $140 billion rolled out,” Prabhu said, addressing a gathering of domestic and international investors during the eleventh International Railway Equipment Exhibition here. He added a large part of the investment would come in the form of institutional financing that would reduce dependence on gross budgetary support (GBS) from the Centre.

TVS Motor Company has roped in Hindi movie actor Amitabh Bachchan as brand ambassador for its Jupiter bike. This is the first time Bachchan will be endorsing a two-wheeler space.

TVS Motor Company has roped in Hindi movie actor Amitabh Bachchan as brand ambassador for its Jupiter bike. This is the first time Bachchan will be endorsing a two-wheeler space.

India’s largest online platform Flipkart, in its ‘Big Billion Days’ sale, sold 500,000 mobile phone handsets in the last 10 hours since sales of mobile phones started at midnight Wednesday, 14th October. This sets a record for the highest number of mobile phones sold in India in a short period of 10 hours in any platform, either online or offline.

Flipkart ‘Big Billion Days’ also set new benchmarks of 4G adoption in India as 75% of the mobile phones sold during this 10-hour period were 4G phones. While metros like Bengaluru, Delhi and Mumbai were the leading cities in terms of sales, FLIPKART also saw huge surge of interest from Tier 2 cities with Nagpur, Indore, Coimbatore, Vishakhapatnam and Jaipur leading in sales.

DUBAI: With Kuwait showing keen interest in India's oil and gas sector, Oil and Natural Gas Corporation (ONGC) has for the first time taken part in the Kuwait Oil and Gas Show (KOGS) 2015.

Minister of Oil Dr Ali Saleh Al-Omair, who inaugurated the ONGCBSE 1.45 % pavilion on October 12, showed keen interest in India's oil and gas sector, Indian embassy in Kuwait said.

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