Briefly Business: Sumit Bose appointed as finance secretary

Revenue secretary Sumit Bose was appointed as finance secretary on Tuesday.

Published: December 11, 2013 2:00 am

New Delhi: Revenue secretary Sumit Bose was appointed as finance secretary on Tuesday. A 1976 batch IAS officer of the Madhya Pradesh cadre,Bose is the senior most secretary in the finance ministry after expenditure secretary RS Gujral retired last month. Bose,who is scheduled to retire in March 2014,is also tipped to be one of the top contenders for the post of PFRDA chairman. ENS

ONGC to move SC against HC order

New Delhi: Oil and Natural Gas Corp (ONGC) on Tuesday said it would appeal in the Supreme Court against a Gujarat High Court order asking it to pay Rs 10,000 crore in past royalty dues,saying it can’t pay the levy on revenue it hasn’t earned. pti

Nissan to hike vehicle prices by up to 4%

New Delhi: Nissan has said will hike the prices of its vehicles,including Micra and Terrano in India,by up to 4 per cent from next month in order to offset the impact of rupee depreciation and escalating input costs. pti

US ban on high-risk bank trades approved

Washington: US banks will be barred in most cases from trading for their own profit under a federal rule approved on Tuesday. The US Federal Reserve and the Federal Deposit Insurance each unanimously voted to adopt the so-called Volcker Rule,taking a major step toward preventing extreme risk-taking on Wall Street that helped trigger the 2008 financial crisis. Ap

Power Grid FPO price set at R90/share

New Delhi: The government on Tuesday fixed the issue price for the sale of Power Grid Corp shares at Rs 90 apiece,the upper end of the band,which would fetch about Rs 7,000 crore. PTI

NSEL defaults for 17th time,pays only Rs9 cr

New Delhi: NSEL on Tuesday paid about Rs 9 crore against the scheduled payment amount of Rs 174.72 crore,defaulting for the 17th straight time. PTI

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