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London, Aug 29 -

New Delhi : After Governors, the Narendra Modi government is removing independent directors appointed by the previous UPA regime on PSU boards, beginning with sacking of four directors on the board of Indian Oil Corp (IOC).

IOC, the nation's largest company, in a filing to the stock exchanges said, "K Jairaj, Nesar Ahmad, Sunil Krishna and Sayan Chatterjee have ceased to be Independent Directors on the Board of the company on August 27, 2014."

Mumbai : Auto major Mahindra & Mahindra, will invest Rs 4,000 crore over a 7-year period to expand its existing facility at Chakan in Maharashtra.

The company, which had earlier put on hold the expansion at the plant and considered other options citing lack of support from the Maharashtra government, said the fresh infusion would take its total investment in Chakan to Rs 8,000 crore.

"A total of Rs 4,000 crore will be utilised towards infrastructure development, product development and capacity expansion for vehicles to be rolled out from the Chakan plant," Mahindra & Mahindra said in a statement.

New Delhi, Aug 28 : Prime Minister Narendra Modi formally launched the Pradhan Mantri Jan Dhan Yojana here today, stating that the scheme will be the first step for many towards being a part of the economy.

The Prime Minister said, "I believe that whenever someone opens a bank account, it is their first step towards being a part of economy."

London, Aug 28 : England captain Alastair Cook is reportedly on the brink of a one-match ban after his side was fined for a slow over-rate in the ODI against India in Cardiff.

Cook had been fined 20 percent of his match fee with the other England players fined 10 percent of their match fees. The skipper would face a ban if England repeats the offence in ODI cricket during the next 12 months, The BBC reported.

India beat England by 133 runs in the second one-dayer at Cardiff and lead the five-match series 1-0 after the first ODI at Bristol was abandoned without any play because of rain.

London, Aug 28 : Australia's national flag carrier Qantas has reportedly