Bloomberg HDFC Bank, the country’s largest private sector bank by assets, said India’s banking sector regulator had lifted restrictions on the launch of new digital business-generating activities. “We are fully committed to ensuring continued adherence to the highest standards of compliance with RBI recommendations,” HDFC Bank said in a statement Saturday, adding the Reserve Bank of India had notified …

Bloomberg Three of China’s largest smartphone brands have opened discussions with Indian manufacturers about making phones locally for global export, a concrete step towards establishing the country as a hub for electronics production. Xiaomi Corp, Oppo and Vivo are holding talks with Indian contract phone-makers, hoping to take advantage of cash incentives readily available to local firms. If they go …

Bloomberg Panasonic Corp is gearing up to become a major manufacturer of a new, more powerful battery championed by Tesla Inc. that the Japanese electronics maker says meets the demands of its high-flying customer. Over the past year and a half, Panasonic has been working to develop a bigger “4680” battery it intends to sell to the American electric carmaker. …