Briefly Business: DoT to calculate one-time spectrum fee after auction

Mumbai: The Reserve Bank of India has extended the timeline for banks to adopt new messaging standards in RTGS payment platform to March 31,2014. A new RTGS system was put in place in October this year that required banks to adopt ISO 20022 standard messaging formats.

FCI seeks govt nod to raise R8,000 crore

New Delhi: Faced with liquidity crunch,the Food Corporation of India has sought governments approval to raise up to Rs 8,000 crore through long-term bonds for meeting working capital requirement.

Indias steel output at 14-month low in Nov

New Delhi: Indias steel production fell to 14-month low in November at 6.25 million tonne due to subdued demand from sectors such as white goods and automobiles. It is the lowest monthly production since September last year,when it was 6.299 MT. As per the World Steel Association,the previous low was in October at 6.461 MT.

AirAsia India may get SOP by January end

Mumbai: AirAsia India is likely to receive the schedule operator permit SOP,which will allow it to operate air services in the country,by next month,sources

said. We are working on the airlines application. In all likelihood,the carrier will have it in place by January end, sources in the Directorate General of Civil Aviation said.

BSE currency turnover crosses R10,000 crore

Mumbai: BSE,the countrys fourth bourse to offer currency derivatives trading,has logged a cumulative turnover of over

Rs 10,000 crore in this segment in a fortnight. Since its launch on November 29,the exchange has also recorded nearly 16.50 lakh derivative contracts.

Corp bond market can reach 15 of GDP: CII

New Delhi: Indias corporate bond market,which stands below 5 per cent of the GDP at present,has the potential to reach to a level of 15 per cent during the 12th Five Year Plan 2012-17 on back of policy and regulatory reforms,a survey by industry chamber CII said.