New ONGC chief

New Delhi, Sept. 25: Shashi Shanker was today appointed as the chairman and managing director (CMD) of ONGC. The appointments committee of the cabinet has approved his appointment, till the date of his superannuation, an order issued by the department of personnel and training said. Shankar, at present director (technical and field services), ONGC, will take over the charge from October 1. He will replace Dinesh K Sarraf, who retires on September 30.

RBI rule

Mumbai, Sept. 25: The RBI today amended the statutes to allow banks to invest in REITs and InvITs. Banks should not invest more than 10 per cent of the unit capital of a real estate investment trust (REITs) or an infrastructure investment trust (InvIT), subject to the overall ceiling of 20 per cent of its net worth.

Telecom plea

New Delhi, Sept. 25: Telecom operators have requested the sector regulator Trai to defer new call drop rules by six months in order to tune their networks according to the new norms.

Broker norm

New Delhi, Sept. 25: Stock brokers can submit monthly data on their clients' funds to the exchanges within three trading days after the month-end, Sebi has said.

Zomato move

Mumbai, Sept. 25: Food discovery and delivery platform Zomato has invested an undisclosed amount in Hyderabad-based home-cooked meal service Tinmen.