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New WPI Series Launched

Oct 10, 2010
The Indian Government on 14 Sept 2010 launched a new series of Wholesale Price Index (WPI) with 2004-05 as base year. Before the government adopted the new WPI,

EPFO Raised Interest Rate on Retirement Benefits

Oct 10, 2010
The Employees' Provident Fund Organisation (EPFO) raised the interest rate on retirement benefits by a full percentage point to 9.5% for 2010-11 from 8.5% as

Union Cabinet Agreed on Ten Per Cent Disinvestment in MOIL

Oct 10, 2010
The Indian Union Cabinet gave green signal for 10 per cent disinvestment in Manganese Ore India Ltd. (MOIL) through an initial public offering (IPO) as well as share sale of 5 per

Eligibility Threshold for Renewable Energy Based Projects Reduced

Oct 10, 2010
Electricity regulator CERC recently lowered the eligibility threshhold thereby making it easier for the small renewable energy based projects to connect better to the inter-state

Repo & Reverse Repo Rates Hiked by RBI

Oct 10, 2010
Reserve Bank of India (RBI) on 27 July 2010 raised its short-term policy rates to control inflation. The apex bank hiked the repurchase rate by 25 basis points to 5.75 percent and the reverse repurchase rate by 50 basis points to 4.50 percent.

RBI Rejected IMG Proposal

Oct 9, 2010
The Reserve Bank of India recently rejected a proposal from an Inter-Ministerial Group (IMG) to relax the stipulation that business correspondents (BC) should be within 30 km distance of a branch.

PMEAC Released Economic Outlook for 2010-11

Oct 9, 2010
The Prime Minister's Economic Advisory Council (PMEAC) on 23 July 2010 released the Council's ‘Economic Outlook for 2010-11' to the media.

PMEAC Predicted Slow Growth in the Mining Sector

Oct 9, 2010
According to the Prime Minister's Economic Advisory Council (PMEAC), India's mining sector is likely to see a slowdown in growth to 8 per cent in the 2010-11 fiscal.

Mid-quarter Review of the Monetary Policy

Oct 9, 2010
The Reserve Bank of India recently decided to undertake mid-quarter review of the monetary policy to keep pace with the global practices and the fast-changing changing monetary environment.

HPCL Declined Credit Line for Kingfisher Airlines

Oct 9, 2010
Hindustan Petroleum Corp (HPCL) declined to reopen a credit line for the debt-stricken Kingfisher Airlines.

TRAI Tariff Order

Oct 9, 2010
The Indian broadcasters were upset by the 22 July 2010 tariff order of TRAI that directed them to offer television channels to addressable platforms such as DTH and IPTV at 35 per cent of the rates for a normal cable operator. The TRAI order mandated DTH players to offer pay channels on an a la carte basis latest by 1 January 2011 and also maintained that the monthly minimum subscription fee should not exceed Rs 150.

SEBI Permitted Use of Wireless Technology in Securities Trading

Oct 9, 2010
The Securities and Exchange Board of India (SEBI) on 26 August 2010 for the first time allowed registered brokers who provide internet-based trading to facilitate securities trading to use wireless technology, including mobile phones and laptops with data cards.

Supplementary Demand for Grants Tabled in Lok Sabha

Oct 9, 2010
On 3 August 2010 supplementary demand for grants for 2010-11, involving an additional massive expenditure of Rs 68294.30 crore over and above the expenses budgeted for 2010-11 in February2010 was tabled in the Lok Sabha.

RBI Proposed Introduction of CDS

Oct 9, 2010
The Reserve bank of India (RBI) on 4 August 2010 put forth the proposal to introduce credit default swaps, or CDS which are used to offset risks in debt markets in in order to enable firms to hedge against any possible default by a bond issuer. CDS help creditors acquire insurance against the possibility that a borrower might default.

Adanis Acquired Coalmine in Australia

Oct 9, 2010
Power maharatna NTPC on 30 July 2010 commissioned a 490 mega watt (MW) unit at Dadri thermal power plant. The unit would supply electricity to Delhi for the Commonwealth Games.Power maharatna NTPC on 30 July 2010 commissioned a 490 mega watt (MW) unit at Dadri thermal power plant. The unit would supply electricity to Delhi for the Commonwealth Games.

Banking facilities to Expand in West Bengal

Oct 9, 2010
Commercial banks in West Bengal in the first week of August prepared a roadmap for extending banking services to 7486 unbanked villages with a population of over 2000 in the State by March 2012. 225 brick and mortar branches would be opened through business correspondent model.

Sensex Rose to a 30 Month High

Oct 9, 2010
The Sensex rose to a 30 month high on 19 August 2010. The global improvements in economic sphere encouraged FIIs and domestic institutions to buy stocks.

SAIL Selected Suppliers for Bhilai Projects

Oct 9, 2010
Steel Authority of India Ltd on 18 August 2010 selected four international suppliers for equipment and providing technology support to four critical projects of Bhilai Steel Plant.

UNCTAD published World Investment Report 2010

Oct 9, 2010
The United Nations Conference on Trade and Development (UNCTAD) on 22 July 2010 came out with estimates in its World Investment Report 2010, according to which

Morgan Stanley report on the Indian Economy

Oct 9, 2010
According to a recent Morgan Stanley report on the Indian economy estimation India will start growing faster than China in 2013.

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