As MD & CFO, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the President.

SBI has also decided to do away with the charges on fund transfer through mobiles using the IMPS (immediate payment service) from August 1.

This means that SBI account holders will not have to pay fees for online money transfers.

Shares of Suzlon rose 3.3 per cent on Wednesday.

Bank of Baroda too announced a token rate cut by reducing its MCLR by 5 to 10 basis points.

The debt-laden company became went into bankruptcy on June 20.

SBI-led consortium of 26 lenders had decided to seek resolution under IBC as they had received only a conditional bid.

In first week of June RBI had lowered the repo rate to 5.75 per cent.

Making a case for labour law reforms, the report said the investors look out for stability and sustainability.

Darwin Platform Group has offered Rs 14,000 crore to acquire Jet Airways, its CEO Rahul Ganpule said.