Briefly Business

SBI employees union on Sunday said the proposed two-day nation-wide from November 25 has been called off

Nation-wide strike withdrawn: SBI Union

Kolkata: SBI employees union on Sunday said the proposed two-day nation-wide from November 25 has been called off after an assurance from the government on pension issue. Senior vice-president of SBI Staff Association M V Murli said that the government had assured the bank management that pension of employees and officers would be brought at par with that in other nationalised banks. The management in turn has communicated to us that the pension would be hiked, Murli said. The association had earlier threatened that the two-day strike would be followed by an indefinite strike if its demands were not met.

Suzlon,RRB Energy in race for Nalco project

New Delhi: Wind power majors Suzlon and RRB Energy are in the race to bag an estimated Rs 300 crore project of state-owned Nalco,a senior official of the aluminium PSU said on Sunday. Suzlon and RRB Energy have bid for the project. One of the companies will be shortlisted by the middle of December, Nalco director,finance,B L Bagra said. Looking at diversification into the power space,Nalco had invited bids last month for construction of a 50 MW power plant which entails estimated investment of Rs 300 crore.

May not meet 2010 sales target: Fiat

Mumbai: Having sold only 24,000 units till October in a highly competitive environment,Fiat India has said that the company may not meet the sales target of 46,000 units set for 2010. We are facing stiff competition. There is a possibility of us falling short of sales target of 46,000 units set for this year, Fiat Indias president and CEO Rajeev Kapoor said.

ICICI Bank expects 18 credit growth in FY11

New Delhi: Countrys largest private lender ICICI Bank has said that its credit will grow at a hefty 18 per cent this fiscal,contrary to a meagre 1.8 per cent expansion in the first half,largely on account of buoyant corporate and retail businesses. Last quarter July-September was the first quarter after nine quarters that the decline in retail business was arrested8230;our domestic corporate sector business has grown at an annualised rate of 30 per cent in the last quarter. So that growth would sustain, ICICI Bank CEO Chanda Kochhar said.

Tata Power to invest Rs 5K cr in wind energy

Mumbai: Tata Power that aims to produce at least 25 per cent of its total power generation from clean sources by 2017,will invest around Rs 5,000 crore in wind-energy alone,said a top company official. We have set ourselves a target to achieve 25 per cent of our total generation from clean sources by 2017. These will comprise wind,solar,hydro,geo-thermal and gas. In wind-power alone,we will be investing around Rs 5,000 crore, Tata Powers executive director-strategy and business development,Banmali Agrawala said.

EasyCabs to add 3,500 taxis over 2 yrs

Story continues below this ad

Mumbai: Cab services-provider EasyCabs plans to add around 3,500 new taxis at an investment of over Rs 150 crore in expanding its radio taxi operations pan-India over the next two years,companys COO Vikas Marwah said. The company currently operates its radio taxi service across four cities Delhi,Mumbai,Bangalore and Hyderabad.