Briefly Business

Global investment banker Goldman Sachs is keen to set up a bank in the country and has approached the Reserve Bank for the licence,its top official in the country said here on Tuesday.

Goldman Sachs seeks banking licence

New Delhi: Global investment banker Goldman Sachs is keen to set up a bank in the country and has approached the Reserve Bank for the licence,its top official in the country said here on Tuesday. We have applied for a commercial bank licence. Our file is in now, Goldman Sachs chief executive officer and managing director for India Brooks Entwistle said at the OP Jindal University conference in the Capital. Entwistle,however,said the bank licensing process is a long one in this country.

SBI to seek govts nod for rights issue in FY11

New Delhi: The countrys largest lender SBI on Tuesday said it will approach the government next fiscal to seek approval to raise Rs 20,000 crore through rights issue. Next year, SBI chairman O P Bhatt told reporters on a query about when the bank intends to approach the government for seeking approval for rights issue. Bhatt has already announced that the bank intends to come put with a Rs 20,000-crore rights issue for meeting capital requirements.

Sensex edges up by 40 pts on erratic day

Mumbai: Stock market bellwether Sensex on Tuesday advanced 40 points after an erratic session that saw investors selling shares at the days higher levels ahead of Wednesdays festival holiday. Pharma stocks rose on hopes of a surge in US exports after the US Congress passed a historic healthcare bill on Sunday. Interest in Reliance Industries also helped the market advance. The Bombay Stock Exchanges 30-share index rose 40.45 points,or 0.23 per cent,to close at 17,451.02 points,although at one point it touched a low of 17,356.64.

Hyundai to raise prices in April

Kolkata: The countrys second largest car maker Hyundai Motor India is mulling over raising prices of all its models in the first week of April by up to Rs 5,000,a company official said. Hyundai will increase the prices in the first week of April, Hyundai Motor regional sales manager Kumar Priyesh said.

Rupee rise not a concern yet: FinMin

New Delhi: The strengthening rupee is not a matter of concern at this stage,as the capital flows into the country are within safe limits,finance secretary Ashok Chawla said here on Tuesday. The rupee appreciation has not been of any great magnitude to cause stress, Chawla told reporters on the sidelines of a Planning Commission conference on infrastructure.

SDS to allocate Disney channels in India

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New Delhi: The Walt Disney Company TWDC has said it has signed a multi-year deal with Sun Distribution Services SDS for allocating its channels in India. SDS is a division of Kal Comm,part of Sun Network Group. As per the agreement,SDS will distribute Disney Channel,Disney XD and Hungama TV. REUTERS amp; PTI