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The Reserve Bank of India has directed the banks not to use know-your-customer (KYC) norms as an excuse to turn down customers’ request seeking to open no-frills accounts with them. No-frills accounts do not require maintaining minimum balance in customers’ account. Due to instances of many economically-disadvantaged customers being hurdled while taking loans, the central bank … Read more RBI directs banks to overlook KYC norms
Jet Airways pilots maybe on strike. Who cares, we have other alternative Airlines who are offering a deal to its consumers. SpiceJet has tied up with HDFC Bank Credit Cards and is offering 20% discount on all SpiceJet tickets. All you have to do is mention the code GET2HDFC while booking your ticketand swipe your … Read more Jet Airways Strike – Fly SpiceJet at 20% Discount
Copper futures market capped its four-day rise and ended lower on Wednesday on news that US consumer borrowing had declined more-than-expected and a surge in inventories of the industrial metal.
Copper futures for December delivery declined 3.2 cents, or 1.1%, to $2.924 a pound on the New York Mercantile Exchange’s Comex division. On the LME, copper for three-month delivery slid 0.9 percent to $6,415 a metric ton ($2.91 a pound).
In a bid to corner the government from its dispute with Reliance Industries (RIL), Anil Dhirubhai Ambani Group (ADAG) firm Reliance Natural Resources (RNRL) has told the Supreme Court (SC) that the government has no role to play either in the utilisation or the fixation of gas price in its contract with RIL.
The RNRL counsel said RIL had complete marketing freedom for sale of gas within India on such terms and at such price that RIL deems fit and proper. RNRL has blamed RIL of changing its stance with regard to the 2004 family agreement.
Read moreRNRL smartly corners away govt from gas dispute with RIL
The threshold companies going for public subscription may face a subdued response on lower valuations after the lukewarm reaction to two recently-listed high-profile scrips, Adani Power and NHPC, as analysts believe more corrections are expected in the overheated primary market. Adani Power and NHPC have witnessed their prices falling below offer prices. Although these issues … Read more Forthcoming IPOs may fetch lower valuations
Meda (US$2.7 bn market cap), a Sweden-based specialty company, announced extension of its partnership with Cipla for proprietary combination nasal spray product (fluticasone and azelastine), which is in Phase III clinical trials in the US. Cipla/Meda together are developing novel nasal spray using combination of azelastine (anti-histamine) and fluticasone (corticosteroid). Per Meda, NDA submission is … Read more Cipla – Meda IPR Deal