Business

Tata said he was humbled by the honour and recalled how late Prime Minister Rajiv Gandhi had appreciated the role of the CII in transforming India.

The Abu Dhabi based airline will have a 24 per cent stake in Jet Airways, the regulator said on its website.

Inflation is forecast to have risen to uncomfortable levels for policymakers in October due to stubbornly high food prices, adding to the pressure for further interest rate rises despite slowing economic growth.

The Supreme Court on Friday upheld the appointment of UK Sinha as the head of market regulator SEBI.

The Reserve Bank of India (RBI) on Tuesday hiked a key policy interest rate by 0.25 per cent in less than two months to curb inflation, but eased some rupee support measures. The move would make home, auto and other loans costlier.

Wholesale price-based inflation that jumped to 6.46 per cent in September, is likely to remain around the same level in the second half of the current financial year, the Reserve Bank of India (RBI) said on Monday.

Finance Minister P Chidambaram will meet chairmen and managing directors of public sector banks on Tuesday to review their performance, especially the situation of non-performing assets and credit growth.

Nifty rose over 2 per cent on Friday to mark its highest level in nearly five months, as ICICI Bank surged on value buying after recent losses.

The deal failed to buoy the dollar, which fell against a basket of currencies.

SBI is the fourth bank after PNB, OBC and IDBI Bank to offer special interest rates for loans to buy automobiles and consumer durables.

BJP leader Subramanian Swamy is seeking quashing of the Centre's approval to Jet-Etihad Airways deal.

The rupee on Thursday had gained 73 paise or 1.17 per cent to end at at an almost seven-week high of 61.73 against the dollar on Thursday.

The move is aimed at stimulating demand in Asia's third-largest economy that is struggling to recover from the worst slowdown in a decade.

September sales of firms like Maruti, Hero MotoCorp and TVS rose in 12-16 per cent range while that of M&M slipped.

The decline was limited by a sluggish dollar overseas and sustained capital inflows, a forex dealer said.

The currency on Monday closed at a one-month high on hopes Sebi's steps to ease investment norms for overseas entities in government debt would attract more capital flows.