Parliament in the Australian state of Queensland agreed on Tuesday that India's Adani Enterprises Ltd should be granted "all state government approvals" to build one of the world's biggest coal mines.
Law firm Maurice Blackburn will launch a class action lawsuit on Thursday on behalf of Australian owners of scam-tainted Volkswagen AG seeking total damages "well north" of A$100 million ($71.59 million).
ICICI Bank Ltd, India's biggest private sector lender, posted its slowest quarterly growth in four years as asset quality worsened and funds set aside for bad loans and contingencies almost doubled from a year earlier.
The biggest private sector lender, are swarming the market with discounts and special offers
The lender has said it is betting on increased loan demand in smaller cities to boost growth in a slowing economy.
An obscure Indian bank has been an unlikely beneficiary of Western sanctions against Iran, handling billions of dollars from frozen oil payments that boosted its interest margins, but is now having to prepare itself for life after the windfall.
With the economy growing at its slowest rate in a decade, India's banking system is facing rising levels of stressed loans, with $100 billion, or about 10 percent of the total, categorised as bad or restructured.
SBI, which accounts for a quarter of the country's loans and deposits, said on Wednesday its net profit fell 35 per cent to Rs 2,375 crore (Rs 23.75 billion) in the quarter ended September.
Net profit rose to Rs 1,982 crore (Rs 19.82 billion) in the quarter ended September 30 from about Rs 1,560 crore (Rs 15.6 billion) a year earlier, the bank said on Tuesday. Net interest income grew nearly 15% to Rs 4,480 crore (Rs 44.8 billion).
Licence winners are expected to be announced by the first quarter of 2014.
The market shares has already tumbled to 48 per cent from the earlier 56 per cent.
There will be more incentive for the parent company to share technology with the Indian unit.
The bank posted a net profit of about Rs 2,300 crore.
HDFC Bank met forecasts with a 30 per cent rise in quarterly profit led by higher loan growth, fee income and stable asset quality.
The consortium might get about Rs 1,000.
India will soon allow corporate houses to open banks despite misgivings within the RBI.
The key lending rate is now 9.7 per cent.
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