Sahara case update

Mumbai, June 12: Sahara head Subroto Roy today started discussions with the Reserve Bank of India (RBI) on the fate of the group’s para-banking firm Sahara India Financial Corp, action against which was kept in abeyance by the Supreme Court and the central bank was directed to give a fresh hearing.

BlackBerry

New Delhi, June 12: Telecom minister A. Raja today said makers of the BlackBerry smart phone had assured the government of coming out with a solution by the month-end. The government is also open to solutions from other companies to crack the data encryption.

SAIL units

New Delhi, June 12: Steel Authority of India Ltd (SAIL) will set up three steel processing units in Madhya Pradesh to manufacture value- added products, steel minister Ram Vilas Paswan said.

Esmark hitch

New Delhi, June 12: US steelmaker Esmark has said one of its subsidiaries has moved National Labour Relations board against workers’ union USW for trying to block the proposed merger with India’s Essar Steel.

Mobile cash

New Delhi, June 12: The RBI has sought comments on the draft guidelines for mobile payment. Cell phone users can avoid walking down the bank if mobile payment comes into practice.