Mumbai Police has recovered the car used in the murder of Sheena Bora in April 2012, sources said.

The case probe took a fresh turn on Friday night when the police claimed that Sanjeev Khanna, the second husband of Indrani Mukerjea, had confessed to his complicity in the crime during a joint interrogation of the three accused. The Mumbai Police brought main accused in the Sheena Bora murder case, Indrani Mukerjea, to the Khar Police station for interrogation on Saturday.

Hinting at the fourth interest rate cut this year, RBI Governor Raghuram Rajan has said he is not done with lowering rates and the central problem for the entire world remains slowing economic growth.

Raghuram Rajan, who was participating in the elite Jackson Hole economic symposium of the Kansas City Federal Reserve, also said RBI has reached an agreement with the government on a new rate-setting panel, the Monetary Policy Committee, which would be announced soon.

HDFC Chairman Deepak Parekh on Friday cautioned against undercutting interest rates in order to gain market share, saying it's a dangerous proposition in the financial services sector.

If you want to take market share and undercut interest rate, it’s so sensitive that it can clean up the market. We cannot afford to be irrational and market share is not a gain in the financial services sector. It’s too dangerous, he said while launching the book ‘Your strategy needs a strategy’ authored by BCG Senior Partners Martin Reeves, Knut Haanaes and Janmejaya Sinha.

India will be able to double its power generation in the next seven years, Union Coal and Power Minister Piyush Goyal has said.

Very clearly, as we work to provide energy access to every citizen of India 24X7 and as we work to eliminate diesel-generated power, sadly we still have several thousands of crores of rupees (spent) on diesel-generated power, which is much more expensive. The cost is borne by the people of the country directly or indirectly, Goyal said during a programme organised by the BCC&I here.

Setting a new milestone in social media connectivity, one billion people from around the world logged on to Facebook in a single day, the highest ever, according to company founder Mark Zuckerberg.

We just passed an important milestone. For the first time ever, one billion people used Facebook in a single day, Zuckerberg posted on Facebook on Thursday.

Bank credit for State Bank of India (SBI), the country’s largest private sector lender, and its associates grew at a slower pace compared to peers.

According to Reserve Bank of India (RBI) data, gross bank credit in April-June for SBI and its associates grew 4.6 per cent compared to 11.3 per cent, in the year-ago period.

NEW DELHI: Prime Minister Narendra Modi has expressed concern over the frequent sharp hikes in airfares, especially during peak travel times and when someone has to buy a ticket on short notice to travel for an emergency. In a meeting with the aviation ministry top brass on Tuesday, the PM spoke extensively on the issue of predatory pricing and asked the officials present there to find a solution to this problem.

"It (predatory pricing) is a concern of a majority of Parliamentarians, including the Prime Minister, and needs to be addressed. The PM has shown his concern over the predatory pricing issue.

MUMBAI: The recent 2.5% devaluation of the Chinese currency by its government could turn out to be a blessing in disguise for emerging markets, including India as an overvalued yuan, its currency, was an impediment to growth of several smaller economies, a report by SBI said.

"With the Chinese economy undergoing structural adjustment, the devaluation of the yuan was natural," the report by Soumya Kanti Ghosh, chief economic advisor, SBI noted. "Though this has caused financial turbulence, this might prove to be a blessing in disguise for India in the context of overvalued real effective exchange rate. Some estimates show that yuan was overvalued by more than 25%."

Mumbai: GMR Infrastructure Ltd is planning to sell GMR Hotels and Resorts Ltd, which owns and manages Novotel Hyderabad Airport Hotel.

The bidding process for selling the hotel is at a very early stage of calling for so-called expression of interests (EoIs) and the company will take a suitable decision based on any interest received over and above the floor price, GMR Infrastructure said in a filing to BSE on Friday.

Executives whose spouses buy or sell their companies’ shares will not be able to offer the alibi that their husbands or wives are financially independent and aren’t privy to any inside information when they defend themselves against insider trading charges

In a guidance note issued on Monday, the Securities and Exchange Board of India (Sebi) clarified that under the Sebi (Prohibition of Insider Trading) Regulations, 2015, a spouse is presumed to be an “immediate relative” unless the company official is able to prove otherwise.

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