SBI, 3 others fined for violating norms

New Delhi: The RBI on Monday fined three public sector banks and an NBFC for different indiscretions. Fines were imposed on the SBI, Indian Bank, Punjab & Sind Bank and Fedbank Financial Services for violating norms, the RBI said. A penalty of Rs 1.3 crore was imposed on State Bank of India (SBI), Rs 1.62 crore on Indian Bank, Rs 1 crore on Punjab & Sind Bank, and Rs 8.80 lakh on Fedbank Financial Services, the RBI said in separate press statements. TNS

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Burmans eye 26% more stake in Religare

New Delhi: Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced Rs 2,116 crore open offer to the shareholders of Religare Enterprises Limited (REL) to acquire up to 26% stake in the company. The open offer is made with the intention to increase the family’s stake and take control of REL. Post-offer, the family’s stake in the financial services firm is expected to increase from about 21% at present to 51%. PTI

TaMo launches first hydrogen-run bus

Chandigarh: Tata Motors today delivered two first-of-its-kind hydrogen fuel cell-powered (FCEV) buses to Indian Oil Corporation (IOC), making a giant leap towards greener mobility solutions. Heralding a new era of fully decarbonised transport, two buses were flagged off by Union Minister for Petroleum & Natural Gas and Housing & Urban Affairs Hardeep Singh Puri in the presence of senior officials in New Delhi.