In a fresh setback to the government’s neighbourhood-first policy, Sri Lanka has asked India to change—for the second time—the location of a stalled $500 million power project to be built by state-owned NTPC Ltd.

The long-delayed 500 megawatt (MW) power project is part of India’s strategy to wield greater economic and strategic influence in South Asia by helping to develop infrastructure projects.

Mumbai, Oct. 6: After its larger rival the State Bank, ICICI Bank has also raised its spreads on home loan rates and not passed on the entire benefit of base rate cuts to new borrowers.

In case of both women and salaried borrowers for floating rates, ICICI raised its spreads or mark-up over base rate paid by a borrower by 0.10 per cent. The bank had cut its base rate by 0.35 per cent to 9.35 per cent.

Mumbai: Axis Bank has tied up with Snapdeal to provide pre-approved, collateral-free loans to sellers on the online marketplace. The loans, ranging from Rs2 lakh to Rs1 crore, will be disbursed till 31 October.

“The loan offers are especially designed to enable sellers who are mostly SMEs (small and medium enterprises) to scale up inventory and meet the huge surge in demand in the run-up to Diwali,” Axis Bank said in a statement.

Mumbai: The top rupee forecaster sees the currency maintaining its position as Asia’s best performer after India allowed foreigners greater access to its debt.

“India remains one of the fastest-growing economies in the region,” said Roy Teo, Singapore-based senior foreign-exchange strategist at ABN Amro Bank NV, which had the most-accurate estimates in Bloomberg’s quarterly rankings. “The rupee has the potential to outperform other regional currencies this year on the back of higher inflows.”

New Delhi: The government has turned down the Indian Air Force’s (IAF’s) request to expand the acquisition of 36 fighter planes from Dassault Aviation SA to plug vital gaps, officials said, nudging it to accept an indigenous combat plane 32 years in the making.

Prime Minister Narendra Modi’s decision, in line with his Make-in-India policy to encourage domestic industry, is a blow for not only the French manufacturer but also others circling over the Indian military aviation market worth billions of dollars.

A former employee of India’s third largest IT services firm Wipro, has sued the company for a compensation of around £1 million, in a case of sexual discrimination, unequal pay and unfair dismissal.

Shreya Ukil, 39, who worked in the Bengaluru-based company’s London office alleged that she was subjected to a “deeply predatory, misogynistic culture.”

Shares of oil exploration & production companies such as Oil and Natural Gas Corporation (ONGC), Cairn India and Oil India were trading higher by up to 6% on the BSE in the early morning trade on rise in crude oil prices.

Cairn India has rallied 6% to Rs 169, ONGC gained 3% to Rs 255, while Oil India up 2.5% to 455 on the BSE. The S&P BSE Sensex was trading flat at 26,926 at 09:23 am.

Ford India today launched the new version of its popular compact sports utility vehicle EcoSport priced between Rs 6.79 lakh and Rs 10.44 lakh (ex-showroom Delhi) looking to cash in on festive season sales.

“Ahead of the festive season, we have made our clever, compact SUV even more stylish with a host of smart features and enhanced power to delight consumers,” Ford India President and Managing Director Nigel Harris said in a statement.

German luxury car maker Mercedes- Benz today reported 34% increase in sales in India during the January-September period at 10,079 units.

"By selling 10,079 units, Mercedes-Benz sold almost the entire volume of 2014 in the first nine months of 2015," Mercedes-Benz India said in a statement.

Government has embarked on global roadshows at four locations, including the US and the UK, to attract investments for its big-ticket stake sale in the country’s largest power producer NTPC and BEL that may fetch around Rs 6,600 crore to the exchequer.

Officials from the Department of Disinvestment (DoD), Power Ministry and NTPC are doing roadshows simultaneously in Singapore, Hong Kong, London and in the United States between October 5-10.

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