1.

European Central Bank Leaves All Three Rates Unchanged:

The European Central Bank kept its stimulus program unchanged in a sign that policy
makers dont see an immediate danger to the euro-area recovery from risks including
Britains decision to leave the European Union

The Governing Council left the main refinancing rate at zero, the deposit rate at
minus 0.4 percent and asset purchases at 80 billion euros ($90 billion) a month, as
predicted in a Bloomberg survey. President Mario Draghi will present new economic
forecasts when he addresses reporters at 2:30 p.m. in Frankfurt

The euro rose to a two-week high after Thursdays announcement, extending an

earlier advance versus the dollar. Germanys government bonds fell for the first time
in four days, with the countrys 10-year bund yields rising from the lowest level in
almost two months

2. Mahindra hails Ola Cabs, announces strategic tie-up:

Cab Ltd announced a strategic tie-up on Thursday. The will aim to increase the fleet strength
by 40,000 cars over the next two years. The addition to the fleet will primarily be the Verito,
earlier called Logan
Ola drivers will be eligible for financing, where they would get up to 100% financing on new,
as well as, pre-owned vehicles. The services of Mahindras insurance arm would also be
offered to drivers who, under the scheme, would paid lower premiums
The drivers would get accident insurance worth Rs 15 lakh, their children would get
scholarships up to class X and XII and the drivers would get discounts on spares. Mahindra,
however, insisted that this was not an exclusive tie-up, leaving the door open for alliances
with Olas biggest rival in India Uber. The financial incentives, however, would be
exclusive and wouldnt be offered to another fleet company
3. Maruti Suzukis compact model leads SUV sales in India:
Maruti Suzuki India Ltd.s all-new compact sport utility vehicles sales helped fuel growth in
Indian auto sales in August, extending the industrys streak of gains to 14th consecutive
months
Demand for the Vitara Brezza SUV paced a 12% increase in Maruti deliveries last month,
while Renault SA posted an eightfold jump on its Kwid minicar. Industry wide passenger
vehicle sales rose 17% to 258,722 units in August, the society of Indian automobile
manufacturers said on Thursday in New Delhi
Buying sentiment has improved after the countrys top court last month lifted a ban on large
diesel vehicles in the capital, Shah said. Sales of SUVs surged 47% to 65,745 units in August,
with the compact models accounting for 67% of the deliveries

4. IDFC Bank for acquisitions & fintech tie-ups to grow retail book:

IDFC Bank, the newest lender in the country, is looking at an aggressive campaign to
get individual depositors and lenders
HDFC is also looking at tying up with several financial technology entities. It is in the
process of signing a deal with a digital lending company that is focused on MSME. It
aims to close tie-ups with at least three fintech entities by end-December
The lender was a part of the Dilip Shanghvi-led consortium that had surrendered the
in-principle licence given to them by for a payments bank. This would have had
helped it make inroads in rural areas. Instead, the bank will need to look at more
partnerships and acquisitions to expand its retail base

5. IRB Infrastructure files for $650 million IPO for investment unit:

 IRB Infrastructure Developers Ltd said it has filed an application for an initial public
offering of its infrastructure investment trust to raise up to 43 billion rupees ($647.20
million)
The IPO would be India's first listing of an infrastructure investment trust (InvIT)
after the Securities and Exchange Board of India (SEBI) unveiled in 2014 rules that
provided a regulatory framework to set up and list these structures
The IRB InvIT Fund would seek to raise the funds through the sale of existing and
new shares in the fund, IRB Infrastructure said in a regulatory filing on Thursday

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