RBI plan for liquidity

Mumbai, April 9: The Reserve Bank has pegged the quantum of intervention through Market Stabilisation Scheme (MSS) at Rs 50,000 crore to help manage excess liquidity during the course of the year. Under the MSS, the RBI, on behalf of the government, absorbs liquidity in the system as and when it happens by issuing treasury bills and/ or dated securities.

Pension move

New Delhi, April 9: The Pension Fund Regulatory and Development Authority today said it was in talks with the government to increase incentives for pension fund managers to popularise the National Pension Scheme (NPS) in the private sector.

FII concerns

New Delhi, April 9: Amid concerns of foreign investors over the tax treatment of investments, FIIs met senior finance ministry officials today, for the second time within seven days, to discuss the provisions of anti-tax avoidance rules or GAAR.

AOL patents

Houstan, April 9: Internet firms AOL will sell over 800 of its patents to Microsoft for $1.056 billion. “The agreement with Microsoft represents the culmination of a robust auction process for our patent portfolio,” AOL chairman and CEO Tim Armstrong said.

Jhunjhunwala

New Delhi, April 9: Viceroy Hotels today said investor Rakesh Jhunjhunwala has increased stake in the company to 13.45 per cent with the acquisition of an additional 3.45 per cent for Rs 2.19 crore.