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Briefly Business: Govt clears 13 FDI proposals worth Rs 1,258 crore

Government referred Axis Bank’s proposal for increasing foreign equity amounting to Rs 6,266 crore for consideration of the Cabinet.

Written by Press Trust Of India | Published: October 29, 2013 3:07:36 am

New Delhi: Government has cleared 13 FDI proposals totalling Rs 1,258 crore and referred Axis Bank’s proposal for increasing foreign equity amounting to Rs 6,266 crore for consideration of the Cabinet.

Federal Bank: No change in ownership structure

Kochi: Kerala-based Federal Bank,which recently got FIPB approval for hiking foreign shareholding limit in the bank to 74 per cent,has said it was not considering any change in its ownership structure and focus would remain organic growth,a top official has said.

SAIL plans Rs 5,000-cr mill at Rourkela plant

New Delhi: SAIL plans to set up a 1.2 mtpa cold-rolling mill at its Rourkela Steel Plant,which will entail an investment of around Rs 5,000 crore through a joint venture.

Telenor CEO elected GSMA chairman

New Delhi: Global industry body GSMA has elected Telenor President and CEO Jon Fredrik Baksaas as chairman for the remainder of the current board term till December 2014.

Tata Global appoints Vittal as director

New Delhi: Tata Global Beverages Ltd has said it has appointed Ireena Vittal as non-executive independent director on the board of the company with effect from October 22,2013.

NSEL investors file complaint against EY

Mumbai: The NSEL Investor Forum has said it has filed a complaint against EY India with the Economic Offences Wing of the Mumbai Police for its alleged role in the payment crisis. An EY spokesperson,however,denied any wrongdoing. pti

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