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Mumbai : Markets regulator Securities and Exchange Board of India (SEBI) and the fair trade watchdog Competition Commission (CCI) have approved the merger of United Stock Exchange of India with the BSE, making it the first merger of two exchanges in the country, the premier bourse said Monday.

For the merger to go ahead, however, the exchanges will have to secure the approval from the Bombay High Court as well, where the proposal is pending.

The merger of the struggling currency bourse USE will see BSE adding its 27 state-run banks and some private and foreign banks as its shareholders. The BSE is already the single largest shareholder in USE with

New Delhi : Government Monday told the Supreme Court that it "wants re-auction all of 218 coal blocks" declared as illegal allocation but sought its indulgence to "exempt" 40 of them which are functional and ready for the end use power plants.

Kolkata: The state-owned airport operator Airports Authority of India (AAI) is planning to develop 50 new low-cost airports across the country to cope with the growing air traffic.

Announcing this at a conference on Communication, Navigation and Surveillance systems (CNS), AAI Member (Operations) G K Chaukiyal said that the low-cost airports would be built over 10 years in an effort to reduce the cost of operation.

Mumbai : Budget carrier SpiceJet under its discount fares as low as Rs 499 has sold over one lakh tickets on Day 1 of the three-day offer.

"The airline has been rolling out such special and heavily discounted fare offers almost every other day so far this year. But the way it has been lapped up by customers today indicates a record of sort," an airline source said.

By 4 pm, tickets sale touched 1-lakh mark, the source said adding: "It expects to set a new sales record in terms of booking, in a single day."

Tokyo - India will get USD 35 billion from Japan over the next five years for developmental projects, including building of smart cities and next generation infrastructure as also cleaning of the Ganga, as Premier Shinzo Abe Monday pledged to partner Prime Minister Narendra Modi's "ambitious" vision of inclusive development.

The two sides also signed five pacts covering defence exchanges, cooperation in clean energy, roads and highways, healthcare and women while vowing to take their relationship to newer level.

Mumbai: To expedite credit decision, the Reserve Bank Monday asked banks to set a timeline for disposal of loan proposals but did not ascribe a particular time frame for the same.

"Banks should clearly delineate the procedure for disposal of loan proposals, with appropriate timelines, and institute a suitable monitoring mechanism for reviewing applications pending beyond the specified period," RBI said in a notification.