Check on airfare hike
Mumbai, Dec. 28: The civil aviation ministry today said it would take steps to keep a check on rising airfares. In the last one year, there has been a sharp increase in airfares during peak seasons and the ministry has been accused of not doing much. “There have been times when fares have gone too high but it will be checked soon,” civil aviation minister Ajit Singh said.
New Delhi, Dec. 28: Gas producers such as RIL should be allowed to charge market prices, the the 12th Five-Year Plan has said. The majority of gas produced in the country is priced at $4.2 per million British thermal unit, a third of the rate at which LNG is imported.
New Delhi/Mumbai, Dec. 28: HDFC Bank and Union Bank have raised Rs 1,405 crore and Rs 800 crore, respectively, through the issue of lower tier-II bonds.
Mumbai, Dec. 28: Sebi has imposed a penalty of Rs 1.5 crore on Purshottam Budhwani for his alleged role in fraudulent trading practices in IPOs of 13 firms, including Yes Bank and Suzlon Energy between 2003 and 2005.
Calcutta, Dec. 28: Employees under the United Forum of RBI Officers and Employees have called a strike on January 1 to protest the decision to close 200 currency notes and coins issue counters in 19 offices from that date, which would render some 1,000 employees surplus.