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Business Briefs

Inflation dips to 3.95%

New Delhi, Aug. 24: The rate of inflation plunged to 3.95 per cent for the week ended August 9, even as fruits and vegetable prices soared and fuel and manufactured products' prices remained unchanged. It was 3.15 per cent in the previous year period.

IDBI ordinance

New Delhi, Aug. 24: Finance minister Jaswant Singh today ruled out an ordinance to convert IDBI into a bank, even though he was disappointed that Parliament could not pass the bill in the last session.

SAT order

Mumbai, Aug. 24: The Securities Appellate Tribunal (SAT) has struck down a Sebi order imposing penalty on Shriram Mutual Fund and Shriram Asset Management Company Ltd, citing incompatibility between facts of case and the principles laid down by the Supreme Court on levying penalties.

FII purchases

Mumbai, Aug. 24: Foreign institutional investors have recorded net purchases in equities and debt at Rs 171.1 crore and Rs 399.1 crore, respectively, for rading week ended August 22.


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