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Business Briefs

Inflation dips to 3.14%

New Delhi, Dec. 1: Cheaper diesel and petrol pushed inflation, on its way up in the last four consecutive weeks, down by 0.13 percentage points to 3.14 per cent for the week ended November 16. It stood at 3.27 per cent in the previous week. Wholesale price index fell marginally by 0.1 per cent to 167.5 from 167.6 as manufactured products’ prices soared due to costlier food products, textiles, chemicals and transport equipment.

Mumbai High

Mumbai, Dec. 1: ONGC’s Mumbai High oilfield has recorded a 15 per cent increase in its daily production to 2.43 lakh barrels of oil per day at the end of its second year of the Rs 7,900-crore redevelopment programme. “Production has increased to 2.43 lakh BOPD in October from 2.08 lakh BOPD in April this fiscal,” a senior ONGC official said.

IDBI bad loans

New Delhi, Dec. 1: IDBI plans to bring down its NPAs to less than 10 per cent this fiscal for which it has stepped up debt restructuring of ailing firms and slapped notices on over 75 wilful defaulters, threatening them with take-over of assets under the Securitisation Bill.


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