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Sponsors to pay Rs 1,237 cr to Govt for UTI AMC transfer — Future stake sale only after Govt approval
THE Cabinet Committee on Economic Affairs (CCEA) on Thursday cleared the transfer of UTI Asset Management Company (AMC) to its four sponsors for a consideration of Rs 1,237 crore. The amount is to be split equally between the sponsors - ...
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Strike hits banking operations badly
The volume of transaction was down to Rs 1,356 crore, against over Rs 10,100 crore on a normal day.
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Scaled down operations at airports — Traffic near normal in most places; service to Kolkata hit
AIRPORTS across the country operated to a scaled down schedule on Thursday on account of the one-day strike called by the Airports Authority of India Joint Workers Forum to protest against the Government decision to privatise the Delhi and Mumbai ...
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Producer price index to replace WPI next fiscal
THE wholesale price index (WPI), which is currently used to measure changes in the average price level at the wholesale and retail levels of transactions in the country, would be replaced by the producer price index (PPI) by the next ...
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To bring down USO subsidy by over 65 pc — TRAI favours rural connectivity through mobile infrastructure
IN a move that would bring down the subsidy for the Universal Services Obligation (USO) fund from Rs 21,000 crore to Rs 6,500 crore over the next five years, the Telecom Regulatory Authority of India may propose a change in the way the fund is ...
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PSBs to be asked to work extra hours on Saturday
NEW DELHI: The Finance Minister, Mr P. Chidambaram, today said that public sector banks would be asked to remain open on Saturday for extra hours to cover the backlog on account of the two days' closure due to Thursday's strike and ...
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NTPC firms up oil exploration foray
A CONSORTIUM led by the Rs 26,000-crore NTPC has bagged an oil and gas exploration block in Arunachal Pradesh. NTPC is firming up plans to extract oil from the block for selling it in the spot markets and using the revenue stream to purchase gas ...
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Renewed interest , short covering buoy benchmark
THE upward journey continued on the markets, which ended the day with smart gains. The benchmark Sensex breached the 8700-mark before closing at 8647.1,while the Nifty closed at 8650.2. Renewed buying interest in the index heavyweights along ...
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Escorts may exit from more jt ventures
POST the sell-off of the Escorts Heart Institute and Research Centre (EHIRC), Escorts Ltd may be looking at divesting from a few more businesses in its portfolio. Industry analysts have pointed out that Escorts may look at selling off its ...
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