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Indian economy could take another two years to return to 9% growth, but a lot depends on global recovery, says BA Prabhakar, CMD, Andhra Bank. In an interview with ET , Prabhakar says the RBI may cut policy rates in April, but lending rates will decline only after six...
NEW DELHI: The government is readying to address the concerns of foreign brands owning stores in India over the requirement of mandatory procurement of 30% inputs from local small and medium enterprises. A senior official told ET that the industry ministry is open to review, revise and even waive...
NEW DELHI: The government may issue a Presidential directive to Coal India (CIL) this week to enter into fuel pacts with power producers with 80% supply commitment, after taking stock of the PSU’s production plan. The development comes in the wake of CIL failing to meet the PMO directive...
Mumbai: The recent purchase of a minority stake in Hyderabad-based roads-to-township builder IVRCL by two Essel Group companies promoted by media baron Subhash Chandra might be a test case for how the new takeover code will pan out in case of companies where promoter holdings are low. Chandra’s two...
MUMBAI: From Monday, foreign institutional investors (FIIs) remitting funds from sale of securities will have to deal with the possibility of a tax liability later. Many chartered accountants and audit firms will add a caveat when FIIs ask for a clearance chit required for remitting funds abroad. As per...
From L S Herdenia BHOPAL: A ghastly incident, in which a mother was killed for daring to report the gang rape of her daughter, has shaken the conscience of the political, administrative and police circles of Madhya Pradesh. The traumatic incident took place in Betul—a predominantly tribal district of...
By B.K. Chum in Chandigarh The euphoria over securing second successive term has lasted merely a fortnight. The Akali-BJP government now finds itself in the dock for two reasons. First, the controversy generated over proposed hanging (since stayed) of Balwant Singh Rajoana for the assassination of former Punjab Chief...
New Delhi: International Coal Ventures Ltd (ICVL) is within a striking distance of acquiring its maiden coking coal asset abroad in Australia’s Bowen Basin for about R 1,500 crore, a top official said. ‘‘This (the acquisition in Australia) is going to happen very soon. All necessary formalities have been...
New Delhi: The hike in rail passenger fares for second class suburban and non-suburban, Sleeper, AC Chair Car and AC 3-tier was today rolled back with the new Railway Minister Mukul Roy dubbing it as a “huge drain” on the pocket of masses. He, however, kept untouched the increase of...
MUMBAI: The Aditya Birla group, which built the world’s seventh-largest cement business largely through acquisitions, is in talks to buy north-eastern cement maker Adhunik MSP Cement’s Meghalaya plant for over Rs 700 crore. Group firm UltraTech Cement wants to buy the 1.5-million-tonne unit and bolster its presence in the...