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Business Briefs

Inflation rises to 3.22 %

New Delhi, Jan. 5: Inflation rose to 3.22 per cent for the week ended December 22. A 13 per cent dip in vegetable prices could not hold the price level down. The point-to-point price change, as measured by the wholesale price index, rose 0.07 per cent from 3.15 per cent in the previous week.

NHB bonds

New Delhi, Jan. 5: National Housing Bank (NHB) has temporarily stopped receiving subscription for its capital gains bonds. It would resume after slashing the interest rate from 6.5 to 6 per cent from January 15.

SBI venture

Chennai, Jan. 5: Commercial Bank of India, a joint venture of State Bank of India (SBI) and Canara Bank, is expected to commence operations in Moscow by March end.

SAB proposal

New Delhi, Jan. 5: The government has deferred a decision on South African Breweries’ (SAB) proposal to buy its Indian partners for want of a policy decision on potable alcohol.


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