In yet another example of thwarting a query under the Right to Information (RTI) Act, the Union Bank of India (UBI) has refused to share information on wilful defaulters. Earlier, UBI, which had written off Rs26,027 crore as bad loans in past years have stalled an RTI query on recoveries and sharing names of big defaulters’ whose bad debt of Rs100 crore and above were written off.

Oil-to-telecom conglomerate Reliance Industries Ltd topped the Fortune 500 list of Indian companies, Fortune India announced on Wednesday. Indian Oil Corporation Ltd (IOC), the nation's biggest oil firm, bagged the second spot, followed by Oil and Natural Gas Corporation (ONGC) at the third, it said. The country's largest lender State Bank of India was in the fourth position.

Two Sahara group firms have moved the Supreme Court seeking initiation of contempt proceedings against SEBI alleging that the market regulator's demand of Rs 62,602 crore from them was not only contemptuous but a mischievous attempt to overreach the directions of the apex court.Eaelier SEBI had moved the apex court seeking direction to the firms to pay the amount.

Leading stock exchange BSE on Wednesday said it has completed another round of physical deliveries of gold under the India Good Delivery standard. The exchange executed delivery of gold and silver to the tune of Rs 1 crore in the 'options in goods' framework, marking the sixth consecutive month of delivery at its designated vault in Ahmedabad, Gujarat, BSE said in a statement.

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Lenders to Dewan Housing Finance Corp Ltd have moved the Mumbai bench of National Company Law Tribunal (NCLT) to initiate personal insolvency proceedings against the erstwhile promoters Kapil and Dheeraj Wadhwan, according to a person aware of the matter. DHFL owes ₹87,031 crore from financial creditors, including ₹39,000 crore from banks.

Merck & Co. said it sold its stake in Moderna Inc., the biotechnology company that’s in the midst of developing a Covid-19 vaccine. The shares of both companies rose. Merck sold its direct equity investment in Moderna during the first half of the fourth quarter, according to a statement from the U.S. drugmaker on Wednesday. No terms of the sale of the holdings were given.

Mumbai: Tata Sons Pvt Ltd, promoter of Tata Chemicals bought 1.81 million shares or 0.71% for ₹76 crore in an open market transaction on Wednesday. According to the bulk deal data on NSE, Tata Sons acquired 18,07,245 shares of Tata Chemicals for ₹420.92 apiece totalling to ₹76.07 crore. According to the latest shareholding pattern, Tata Sons held 29.39% in Tata Chemicals.

Apollo Hospitals on Wednesday said its board has approved the proposal to seek shareholders' nod for raising up to ₹1,500 cr by way of postal ballot. The board has also approved to constitute a Fund Raising Committee for this. The committee would be entrusted with powers on behalf of the board to implement and administer all aspects related to the capital raising exercise, it added.

State-run Punjab National Bank (PNB) has completed IT integration of all branches of erstwhile Oriental Bank of Commerce (OBC) with itself, the bank said in a release on December 2. All customers of erstwhile OBC Bank are now migrated to CBS of PNB wherein they can transact seamlessly via existing branches and digital banking channels like internet banking and mobile banking, the bank said.

Reliance Jio on Wednesday said it has led a Series-A funding round in augmented reality mobile gaming company Krikey. The company did not disclose the financial details of the investment. With this round, the total funding in Krikey reached USD 22 million. The firm also launched a new augmented reality game in India 'Yaatra', in which Jio users will get exclusive access to 3D-avataar features.

UK’s Standard Life, one of the promoters of HDFC Life Insurance Company is looking to sell up to 2.78 crore shares of the insurance company through a block deal on Thursday to raise up to Rs 1,770 crore, according to a term sheet issued by Bank of America. The sale price has been fixed at Rs 605-636.50 apiece, upto 5% discount to Wednesday’s closing price of Rs 636.7.

DBS (India) Bank on Wednesday questioned the jurisdiction of the division bench of the Madras High Court hearing the petition filed by shareholders of Lakshmi Vilas Bank (LVB). Senior counsel Mukul Rohatgi appearing for DBS India argued that the matter should be first heard by a single bench before being posted to a division bench. Respondents raised an issue about the jurisdiction.

The government sold some of Specified Undertaking of The Unit Trust of India’s (SUUTI) stake in private lender Axis Bank last week, data released on BSE showed. SUUTI offloaded 36,25,075 shares of Axis Bank between November 26-27, bringing its stake in the lender down to 4.12% from 4.24% earlier. In May, the government had decided to sell the remaining stake in companies held under SUUTI.

The UK has become the first country to authorise the Pfizer-BioNTech COVID-19 vaccine for use.  National Expert Group on Vaccine Administration for COVID-19 was in talks with “all candidate vaccine manufacturers” for supply to India.   According to what the firms have revealed today, it should start arriving in the UK within days and could be used on British citizens from next week.