SBI relaunches online account opening facility

Mumbai

The SBI on Friday relaunched its Aadhaar-based instant digital savings account facility for customers who want to open an online account using the YONO platform. The ‘insta savings bank account’ will offer a complete paperless and instant digital savings account opening with just PAN and Aadhaar number. PTI

New Delhi

HDFC slashes lending rate by 20 basis points

Mortgage lender HDFC on Friday slashed its lending rate by 20 basis points amid a gradual decline in cost of borrowing across the system. The move is in line with rate cuts by lenders like SBI. The change will benefit all existing HDFC retail home loan and non-home loan customers, it said. PTI

New Delhi

Relief for small taxpayers on late filing of GST returns

The GST Council decided to defer crucial decisions on compensating states for their IGST dues and on correcting the inverted duty structure on some products to a later date after intense discussions that spanned four hours on Friday. The council decided to defer a decision on duty inversion structure in three sectors — textiles, fertilisers and footwear. The council agreed on certain relief to GSTR-3B returns and small taxpayers. It waived the late fee for those with no tax liability but have not filed GST returns from July 2017 to January this year. It capped at Rs 500 the late fee for those with tax liability for the same period. This will apply to all returns submitted between July 1 and September 30. TNS

New Delhi

M&M reports net loss of Rs 3,255 crore in Q4

Mahindra & Mahindra (M&M) on Friday reported a consolidated net loss of Rs 3,255.02 crore for the quarter ended on March 31, 2020. Revenue from operations declined to Rs 9,004.72 crore during the fourth quarter compared with Rs 13,807.88 crore in the same period of corresponding fiscal, M&M said. PTI

New Delhi

Marriott, Zomato in pact for home delivery service

Hospitality major Marriott International on Friday said its home delivery service will now be available in more cities through an agreement with Zomato. The partnership will start with close to 30 hotels in cities Bengaluru, Gurugram, Delhi, Pune, Chandigarh, Mumbai, Hyderabad, Ahmedabad among others. PTI

New Delhi

Fuel dearer

Petrol price was hiked by 57 paise per litre and diesel by 59 paise a litre as oil companies adjusted retail rates on Friday. This is the sixth consecutive day of hike in rates.

New Delhi

Honda recalls 65,651 cars to fix ‘fault’

Honda Cars India Ltd on Friday said it was recalling 65,651 units of 2018-manufactured Amaze, City and Jazz cars to replace faulty fuel pumps.