Doing away with certain requirements related to short selling, the Securities and Exchange Board of India (SEBI) on Tuesday eased norms for entities trading in the securities lending and borrowing (SLB) segment.

The rupee recovered marginally by four paise to 59.34 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters.

However, the dollar’s strength against other currencies overseas, capped the rupee’s gain.

The Narendra Modi-led government's functioning in its first week has offered a renewed sense of optimism even as no major policy decision or economic reforms have been announced, according to the US corporate sector.

"There is a renewed sense of optimism in the air and we share that sentiment," said the US India Business Council (USIBC) acting president, Diane Farrell.

Maruti Suzuki is looking at an aggressive ramp-up of its dealership presence in the country to meet its target of selling over 2 million cars by 2017. The company plans to double dealer outlets in the next three years from 1,331 at present.

“From the dealership perspective, we focus on how close can we go to our customers. We are looking to double the dealership presence by 2017 to increase our reach,” said Mayank Pareek, chief operating officer (marketing & sales).

The benchmark BSE Sensex gained over 67 points in early trade today on continued capital inflows by funds and retail investors, following the RBI's decision to cut the statutory liquidity ratio (SLR).

Rising for the third straight day, the 30-share barometer surged 67.31 points, or 0.27 per cent, to 24,925.90 with stocks of consumer durables, realty, capital goods and auto sectors leading the rise.

Tata Consultancy Services (TCS), India’s largest information technology firm by revenues, has given its chief executive and managing director N Chandrasekaran a 60% pay hike in FY14. His compensation, including salary, commission, and other benefits, perquisites and allowances, stood at Rs 18.68 crore, according to disclosures made in the firm’s 2013-14 annual report, published on its website on Tuesday.

Finance minister Arun Jaitley may give the Rs 2,51,000 crore worth domestic gems and jewellery industry, gold importers, and consumers some reason to cheer about. The ministry is likely to reduce the gold import duty by 2-4% from 15% now. This may form a part of the Budget announcement of finance minister Arun Jaitley.

Even though, Tamil Nadu chief minister J Jayalalithaa on Tuesday didn't commit to helping the Narendra Modi-led NDA government for the smooth transaction of business in the Parliament, the government is pinning hopes on her, on Biju Janata Dal (BJD) chief Naveen Patnaik and on Trinamool Congress' (TMC) fiesty leader Mamata Banerjee.

The Reserve Bank of India (RBI) has given banks a breather for additional provisioning for the unhedged foreign currency exposure of their clients in the quarter ending June. Now, banks can spread provisioning for the June quarter equally through this financial year.

The Directorate General of Civil Aviation (DGCA) is easing norms for renewal of licences for commercial pilots, flying training academies and airports.

A senior official at DGCA said: “Airlines in their representations to the DGCA have suggested certain amendments to the Civil Aviation Requirements (CAR) and in the oversight mechanism. We are working towards relaxing norms for renewal of licences for commercial pilots, flying training academies as well as airports. The licensing norms are being eased keeping global parameters in consideration and without compromising on safety.”

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