Business Briefs 27-09-2011

Norms for core firms RBI board Sebi proposal DRL deal Maruti talks

By The Telegraph Online
  • Published 27.09.11

Norms for core firms

Mumbai, Sept. 26: The Reserve Bank today relaxed norms for infrastructure companies with direct foreign equity up to 25 per cent to raise fund overseas without government permission. On a review, it has been decided to further liberalise the external commercial borrowings policy in respect of the infrastructure sector.

RBI board

Mumbai, Sept. 26: The government has reconstituted the Reserve Bank’s central board by inducting seven new directors, including GMR Group head G.M. Rao and former Atomic Energy Commission chairman Anil Kakodkar.

Sebi proposal

Mumbai, Sept. 26: Sebi today proposed to bar investment advisers from acting as agents promoting financial products in the backdrop of the alleged fraud by a Citibank employee.

DRL deal

New Delhi, Sept. 26: Dr Reddy’s Laboratories (DRL) today said its deal to acquire pharmaceutical prescription portfolio of JB Chemicals & Pharmaceuticals in Russia and other CIS countries had been mutually terminated by both the firms.

Maruti talks

New Delhi, Sept. 26: Renewed talks between Maruti Suzuki’s management and its workers to end the 29-day impasse at the company’s Manesar plant remained inconclusive today.