RBI asks banks to not to reject any Educational loan application

NI Wire,    Sat, 10 Nov 2012
In order to support higher education of poor students, the Reserve Bank Friday asked banks not to reject any educational loan application, no matter if the residence of the borrower fell beyond the service area of the branch........................

Diageo agrees to buy 53.4% stake of Mallya's USL

NI Wire,    Fri, 9 Nov 2012
Britain-based world's biggest spirits group, Diageo Plc Friday agreed to buy a controlling 53.4 percent stake in liquor baron Vijay Mallya's United Spirits Ltd (USL) in worth Rs.11,166.5 crore ($2 billion)..............

Cabinet clears one-time 2G-spectrum fee; call rates may go up

NI Wire,    Thu, 8 Nov 2012
The Union Cabinet Thursday approved a one-time levy on incumbent telecom players which hold 2G spectrum beyond 4.4 MHz in GSM category and 2.5 MHz in CDMA category, which base rates are yet to discovered by next week's auction..............

Cabinet approves to set up 21 integrated textile parks

NI Wire,    Thu, 8 Nov 2012
In a move to promote Textile industry, the Cabinet Committee on Economic Affairs (CCEA) Thursday approved to start implementation and issuing financial sanction to the 21 integrated textile parks sanctioned in the 11th Five-Year Plan.................

CCEA approves 10% divest from HAL

NI Wire,    Thu, 8 Nov 2012
The Cabinet Committee on Economic Affairs (CCEA) Thursday approved to disinvest 10 percent equity in Hindustan Aeronautics Limited (HAL) out of its holding of 100 percent through an Initial Public Offer (IPO) in the domestic market as per the Securities and Exchange Board of India (SEBI) rules and regulations.............

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