Business

India's FDI policy allows foreign investors to pick up 49 per cent stake in domestic airlines.

Banking stocks tumbled further after a RBI committee recommended tightening regulations on loan restructuring.

The EGoM has asked DoT to prepare a matrix of reserve price and its impact on tariffs and revenue to the government.

There is increased clamour for rate cuts by the industry as growth has slowed dowm.

The global software major had set up its China subsidiary in 2004 and expanded its presence with development centres.

RBI will unveil its first quarterly review of monetary policy 2012-13 on July 31.

The rupee ended at 56.63 to the dollar on Wednesday vs 55.39 on Tuesday.

The SBI chief further said the promoters should not reduce the number of flights.

Principal Advisor Pronab Sen said it would be difficult to grow faster than 8 per cent, without being more efficient.

ICICI Bank this week said it unloaded its Kingfisher debt to a fund managed by SREI Infrastructure Finance.

The report comes after the i-banker had a meeting with the SBI management earlier in June.

The ailing national carrier has been operating 38 out of 45 services for over a month now.

The rupee tumbled on increased capital outflows from equity markets and rising demand from importers.

In FY12, while exports sniffed at $304 billion, imports crossed $486 billion, out of which $155.6 billion were crude imports.

The rupee fell to as low as 56 per dollar, near the session low of 56.04 in the previous day, a day after the RBI disappointed domestic markets by keeping monetary policy unchanged.

State-owned oil firms have decided to "wait-and-watch" the international scenario and the rupee-dollar rate before deciding to cut petrol prices.