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Business Briefs

ECB norms eased

Mumbai, Jan. 7: Relaxing the external commercial borrowing (ECB) norms, the Reserve Bank of India today said NBFCs operating as infrastructure finance companies can now avail themselves overseas borrowings of up to 75 per cent of their owned funds without its approval.

RIL audit

New Delhi, Jan. 7: The Comptroller and Auditor General (CAG) will on Wednesday begin the second round of audit of Reliance Industries’ spending on the KG-D6 gas block. CAG officials are scheduled to reach RIL’s Navi Mumbai office on January 9 to begin the scrutiny, sources said.

Stainless steel

New Delhi, Jan. 7: The government has imposed a safeguard duty of 20 per cent on imports of a certain variety of stainless steel from China. The duty was imposed on hot-rolled flat products of stainless steel-304 grade (up to a maximum width of 1605mm).

EPFO updates

New Delhi, Jan. 7: Retirement fund body EPFO, which has launched an e-passbook service to enable its over five crore members to access their accounts online, is yet to update 94.13 lakh accounts. It has asked its staff to update all the accounts for 2011-12 by March-end.

Selloff line-up

New Delhi, Jan. 7: The government is likely to come out with a 10 per cent stake sale offer for Oil India in the second fortnight of this month, followed by NTPC’s issue in the first 14 days of February, a finance ministry official said today.

JLR sales

London, Jan. 7: Jaguar Land Rover today said its UK vehicle sales rose 19.7 per cent in 2012 and launches meant its outlook for 2013 was “positive”.

 
 
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