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Yes Bank and IndusInd Bank are looking to acquire the Indian retail assets of Royal Bank of Scotland (RBS), according to reports.

The two banks are negotiating terms to acquire the Indian retail assets of the Scottish bank. Some people closer to the matter indicated that the two banks have expressed interest but there is no certainty that the deal will be finalized.

The board of directors of the HCL Infosystems has given its approval for business restructuring of the hardware and systems integration company.

The board approved the restricting plan on Friday that was recommended by the Finance Committee. The company said that the restructuring was aimed at making sure that the management has specific focus on each of the growth areas. The restructuring will also return in a leaner organization for the company's hardware solutions business.

A recent decision by the union government to delay the implementation of the general anti-avoidance rule (GAAR) to April 2016 has brought a sign of relief to the investors.

Daksha Baxi, ED-Taxation of Khaitan & Co said that the announcement by Finance minister P Chidambaram brings relief for the investors for a period of two years. The time will allow the investors to alter their structures in order to ensure that the GAAR would impact their investments.

Telecom service provider, Uninor has said that it will continue operations in the Mumbai circle after the Supreme Court of India announced the extension of licenses of the companies whose licenses were to be scrapped on corruption charges.

Uninor has indicated that it has decided to bid for the upcoming auction of spectrum in the Mumbai circle. The company said in a statement that as the Telenor Group has decided to bid for the spectrum and the spex court has allowed an extension of licenses for the companies, the services in Mumbai will continue under the brand.

Social networking giant, Facebook is planning to hold a mysterious press conference, sparking speculation about the prospects of a new product of service.

The company is holding the press briefing at its headquarters in Menlo Park in California. Facebook has not announced the purpose of the event and there is speculation that the company might be planning to launch its own smartphone or even a search engine.

Tata Motors Managing Director Karl Slym has prepared a road map to revive the passenger vehicle (PV) segment to enable the reclaim the second position in the car segment by 2020, a report by brokerage firm Motilal Oswal said.

According to the report, Slym has initiated a major restructuring exercise to help the PV section, which is struggling with aging brands like Indica, Sumo and Indigo, revive.