Business

Earlier this month, the RBI had decided to allow round-the-clock fund transfers through the National Electronic Funds Transfer (NEFT) from December this year in order to promote digital transactions.

Visa India country manager TR Ramachandran said banks and other stakeholders incur a cost to put up the payments infrastructure like points-of-sale machines, and they need to be compensated for the same.

However, given the bleeding balance sheet of all banks it is highly doubtful if banks have the balance sheet capacity to meet such a spike in demand if at all it were to happen.

The report also added that since the dilution of shareholding would be larger than that in the recently-concluded QIP, Yes Bank may bring in strategic investors who could support the bank’s growth.

Oyo Rooms has launched coffee outlets each in Delhi and Bengaluru and will open at least a dozen more soon, two people privy to the development said.

The O2C business, which has an enterprise valuation of $75 billion, includes RIL's refining and petrochemical divisions, and RIL's 51 per cent stake in its fuel marketing business, Moody's said in a report.

The partnership will bring enterprise users access to Microsoft’s cloud-based software and hardware infrastructure via the JioFiber network.

Mukesh Ambani, chairman and managing director of Reliance Industries Limited, said the partnership will cover all of RIL's Refining and Petrochemicals assets, including 51 per cent of the Petroleum Retail joint venture.

BSNL management denied the allegations saying the valuation has been done only on indicative basis and final valuation will be done before disposing the proposed land parcels.

EY will also investigate into the circumstance under which Coffee Day Enterprises late founder V G Siddhartha had written the purported letter dated July 27, 2019, alleging harassment by the Income Tax T department.

State Bank of India announced a 15 basis points reduction in its lending rates, effective from August 10 across all tenors.

Mindtree Ltd on Friday announced the appointment of former Cognizant executive Debashis Chatterjee as its new chief executive officer and managing director (MD and CEO).

The penalty imposed on entities ranges from Rs 25 lakh to Rs 3 crore.

The 30-share Sensex was trading 333.32 points, or 0.90 per cent, lower at 36,685.00. Similarly, the 50-share Nifty slipped 105.15 points, or 0.96 per cent to 10,874.85.

There is no assurance from the management on when the salaries would be paid which are usually credited on the last day of every month, BSNL Convenor said.

In terms of job creation, Vedanta is creating nearly 1 million man years of employment yearly through all its group companies. This translates into 17 job opportunities in India for every direct employee in Vedanta.