Briefly Business

Finance Minister Pranab Mukherjee said the government has not taken any decision to scale down the growth projections.

No decision on lowering growth projections: FM

New Delhi: Finance Minister Pranab Mukherjee on Monday said the government has not taken any decision to scale down the growth projections for the current fiscal despite apprehensions of slowdown expressed by the Reserve Bank and global rating agency Fitch.

ICAI sets up expert group on black money

New Delhi: The accounting regulator has set up a group of experts to suggest the government ways to deal with the menace of black money and retrieve the illegal money stashed in tax havens and overseas banks. The group,headed by ICAI President G Ramaswamy,consists of nine members of the ICAIs central council.

MTNL invites EoI to raise R1,500 crore via loans

New Delhi: MTNL has invited expression of interest EoI from banks for providing long-term loans of Rs 1,500 crore to repay its debts and meet operational expenses. The loan will be raised in tranches without any penalty and interest to be calculated for such tranches from the date of raised.

Glenmark settles patent case with Daiichi,Genzyme

New Delhi: Glenmark Pharmaceuticals has settled a patent infringement litigation with Daiichi Sankyo and Genzyme paving way for it to market generic Colesevelam Hydrochloride used for treating diabetes and high cholesterol in the US market.

PK Bajpai takes over as BHEL director finance

Bangalore: PK Bajpai has assumed charge as Director Finance of BHEL. Prior to this,he was heading the companys Financial Services division as Executive Director,it said in a release.

Reliance Retail hires former Walmart executives

New Delhi: Reliance Industries firm,Reliance Retail is making a top management rejig in its value format and will soon announce appointment of two ex-Walmart executives Rob Cissell and Shawn Gray to lead the operations.

Tata Power Vs R-Power: SC adjourns final hearing

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New Delhi: The Supreme Court on Monday adjourned the final hearing on Tata Power8217;s plea challenging the government approval to R-Power to use the excess coal,mined from captive mines meant for the Rs 20,000 crore Sasan Power,for other projects as well.

CIL invites global bids for Rs 150 crore expansion

Hyderabad: State-run Coal India has floated a global tender inviting financial institutions to advice it on over Rs 150-crore fresh investment proposal for boosting local output.

NSE launches treasury bill futures trading

Hyderabad: NSE on Monday began trading in T-91 Bills,the shortest tenure debt securities issued by the government to meet its short-term borrowing requirements.

Further hike in interest rate will kill industry: CII

Chennai: CII has cautioned against any further hike in interest rates. Any further increase in interest rates will kill the industry.. the supply and demand side should be addressed8230;, CII President B Muthuraman said.

Dhanlaxmi Bank forays into gold retailing

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Mumbai: Dhanlaxmi Bank has entered the gold retailing business with the launch of Dhan gold coins. The 24-carat gold coins will be available in a tamper-proof packs.