Few More News Headlines – 29 August, 2011

The RBI panel has suggested that the Non-Banking Financial Companies (NBFCs) should have a minimum 12 percent Tier I capital adequacy ratio within three years of registration.

The government has said that it had cleared 123 foreign direct investment (FDI) proposals worth of Rs 19,711.17 crore during the current fiscal till August 23. Only 21 proposals are pending before the Foreign Investment Promotion Board (FIPB) as of August 23.

Indian Stock markets were up by nearly 3.5% because of value buying, positive global cue, Anna Hazare-Government crisis resolve and the expectations of more economic reforms by the Government.

Maruti Suzuki India has suspended 21 workers at its Manesar plant because of some work related issues.

Greece’s second and third biggest banks, Eurobank EFG and Alpha Bank have announced their merger in order to survive the ongoing debt crisis.

Reliance Industries crossed state run Company ONGC again today to become the most-valued Indian company yet again. ONGC had held the position only for three days before shifting to Number 2 position again.

In a setback to former Karnataka chief minister B S Yeddyurappa, the Karnataka High Court has dismissed his anticipatory bail application today in connection with alleged irregularities in a land allotment case.

Follow-on public offer of state-run Oil and Natural Gas Corporation (ONGC) is expected to hit markets on September 20.

Natural gas production from Reliance Industries’ eastern offshore KG-D6 block has dipped below 45 million standard cubic metres per day this month compared to the production of 70.39 mmscmd as approved by the Government in 2006.

Congress asks for consensus from all the other political parties over Anna’s poll reform demands. Anna Hazare wants to facilitate the “right to recall” power for the citizens of the country by which they can reject a candidate using voting rights.

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