Shares linked to the insurance sector saw good activity with Reliance Capital leading the charts with over 10 per cent gains. Max India, Aditya Birla Nuvo and Bajaj Finserv also moved up.

The problem is that one year since Prime Minister Narendra Modi's announcement, India is still grappling with the nuts and bolts of setting up a smart city.

India's commercial banks borrow from RBI at the policy rate but then lend that money out at a high rate, in what RBI Governor describes as a culture of \"lazy banking.\"

About 24 stocks closed with losses, including L&T, GAIL, Cipla, SBI, M&M, Bharti Airtel, Tata Motors, Maruti Suzuki, ICICI Bank, TCS, Axis Bank, Hero MotoCorp, RIL, BHEL, HDFC Bank, ITC Ltd, Coal India, NTPC and HDFC Ltd.

Veteran retailer Damodar Mall takes us on an exciting journey through India's stores in his book 'Supermarketwala - Secrets to Winning Consumer India'.

This is the third high-profile exit from Reliance Jio and second within a month after its managing director Sandeep Das was moved to its sister concern Reliance Retail.

The capital infusion has been decided based on the performance of the bank. Better the performance higher will be the infusion, an official statement said.

The profile of the two giants would actually dwarf many other payment banking candidates including banking correspondents, prepaid instrument issuers, retail chains etc.

Besides, Aditya Birla Nuvo Limited (ABNL)-which runs mobile operator Idea Cellular-and Kishore Biyani-promoted Future Group too applied for licences.

Mobile operators and pre-paid wallet players are expected to lead the charge, seeking to add transaction fees to revenue streams from products such as phone minutes and bill payments.

Sources close to RIL said the application was not a step towards setting up of a full-fledged bank as it otherwise would have applied for a banking licence.

South Koreans have amongst the longest working hours in the world. UK's giant retailer sought to turn this to its benefit.

RIL's standalone net profit in October-December fell 7.7 per cent to Rs 5,085 crore, the first drop in nine quarters.

In a letter to Reliance Retail employees, Mukesh Ambani said Das will move from his role as Managing Director of Reliance Jio and join the Board of Reliance Retail.

The plant started commercial production in 2008. Prashant Ruia, Group CEO of Essar, announced the refinery's expansion plans at the Vibrant Gujarat event.

The NSE Nifty index reclaimed the 8,300-mark by rising 38.50 points, or 0.46 per cent, to end at 8,323. The Sensex has now gained over 676 points in three days.

The private players will open another 1,400 outlets -Reliance 1,000 and Essar 400-this year, posing a tough challenge to the giant public sector retailers.

Mitsui will manage six very large ships for carrying ethane that are being built by Samsung Heavy Industries shipyard in South Korea for RIL.

The American retail major will open a new store in the country after a gap of two years. Walmart had opened its last store in Bhopal towards the end of 2012.

The potential acquisition will mark Snapdeal's sixth and biggest buy, while taking the company's valuation at up to US $10 million, two sources told Economic Times.