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Business Briefs

Mallya airline snubbed

Bangalore, Jan. 4: A consortium of lenders, led by the SBI, today opposed Vijay Mallya-led Kingfisher Airlines’ plan to resume operations and insisted on “better commitments” from the carrier. The meeting between the lenders and the Kingfisher management remained inconclusive as the bankers were “not impressed” with the revival plan, sources said.

LIC funds cap

Mumbai, Jan. 4: IRDA chairman J. Hari Narayan today said the government’s recent move to allow state-owned insurer LIC to invest up to 30 per cent in a company was imprudent. He also said it was a matter of legal interpretation. “I think, it is imprudent,” Narayan said.

Direct tax

New Delhi, Jan. 4: Led by healthy growth in personal income tax collection, gross direct tax collection in the nine months till December increased 8.01 per cent to Rs 4.28 lakh crore from 3.96 lakh crore a year ago.

Service growth

New Delhi, Jan. 4: India’s services sector expanded further in December — registering the fastest growth in three months — driven by a sharp rise in new business orders, an HSBC survey said.

EU pact

New Delhi, Jan. 4: Implementation of the free-trade agreement between India and the EU will help to create lakhs of jobs besides boosting two-way trade, a London-based non-profit organisation called Indo-European Business Forum has said.

 
 
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