NATIONAL Bank credit grows by 17.5 pc upto Oct 29: RBI Backed by pick up in loan demand from priority, home and retail sectors, Indian commercial banks have posted a 17.5 per cent growth in credit upto October 29, 2004 as against 4.5 per cent witnessed in the same period of 2003-04, according to Reserve Bank of India (RBI) report.
No violation of law in superior power to CMD: RIL Reliance today (Nov 29, 2004) asserted that there was no violation of law or memorandum of association by its Board in according superior power to chairman and managing director (CMD) Mukesh Ambani and that the CMD would not explore legal option to counter issues raised by Anil Ambani.
Watch out for Chamchas, Dad had said: Anil Ambani Watch out for "3Cs -- Chamchas, chelas and cronies", Anil Ambani said in a subtle message amid battle for control of Reliance Empire with his elder brother Mukesh.
Now, an insurance package for cancelled weddings! Bajaj Allianz General Insurance on Monday (Nov 29, 2004) launched insurance package to cover cancellation or postponement of weddings due to fire and other perils.
'Saddened' Anil mails employees; seeks support Stating that he was saddened by the developments of the last two weeks, Reliance Industries vice chairman Anil Ambani today (Nov 29, 2004) sought the support of the entire group for himself and his elder brother Mukesh, but reserved comments on the ownership issues plaguing the Ambani family.
Sensex closes at 6157.77, 2nd highest in BSE history Frenzied buying by Foreign Institutional Investors (FIIs) lifted the Sensex up by a whopping 122.74 points or 2.03 per cent to close at 6157.77, the second highest closing in the history of the stock exchange in Mumbai today (Nov 29, 2004).
Meanwhile, ignoring the ongoing tussle between the two Ambani brothers, Mukesh and Anil, over the ownership issue, shares in the Reliance group attracted good buying and RIL, REL, Reliance Capital, RIIL and IPCL rose smartly.
Indo-Pak trade likely to cross $500 mn this fiscal Trade between India and Pakistan has jumped a whopping 189 percent to $ 186.36 million during the first four months of the current fiscal, with Indian exports to the country rising by 328 percent to $ 167.38 million during the period.
Unemployment to hinder economic growth: RBI RBI (Reserve Bank of India) Governor Y V Reddy has warned that high economic growth will be derailed in the medium term if institutional and infrastructural issues as well as the problem of unemployment are not addressed.
'Use Foreign exchange for infrastructure projects' Planning Commission has submitted a proposal to the Finance Ministry for raising Rs 70,000 crore for the infrastructure projects in the country in the next three years by using the burgeoning foreign exchange reserves.
Reliance wrangle: SEBI 'eyes' Group entities Securities and Exchange Board of India (SEBI) is closely monitoring all listed Reliance Group entities in wake of the ongoing tussle over the control of Rs 90,000-crore business empire and resignations of six directors of Reliance Energy Ltd.
Sensex touches 10-mth high during mid-session Shares zoomed up during the mid-session on the Stock Exchange (BSE) in Mumbai today (Nov 29, 2004) with the 30-index sensitive index shooting up to touch a 10-month high of 6125.00 points at round 1 pm on frantic and continued buying by Foreign Institutional Investors (FIIs).
Aiyar has wait and watch policy on fuel prices A day before the scheduled date for revision in petrol and diesel prices, Petroleum Minister Mani Shankar Aiyar today (Nov 29, 2004) remained non-committal on any change in the price line.
Anil Ambani's REL board to consider resignation The board of Anil Ambani-controlled Reliance Energy Ltd (REL) would meet tomorrow (Nov 30, 2004) to consider the resignations of six directors which were tendered on November 26.
Sensex at an upward march during morning trading The Sensex opened on a cautious note and later rallied smartly during morning trading on the Stock Exchange in Mumbai today (Nov 29, 2004 on the back of consistent purchases by Foreign Institutional Investors (FIIs).
Reliance group company stocks open sharply lower Reliance group listed stocks, except IPCL, opened sharply lower today (Nov 29, 2004) as the ongoing tussle between Ambani brothers -- Mukesh and Anil -- over "ownership issues" in Reliance group continued to put the downward pressure on stocks.
'Ambani row is a private affair, no mediation' Leading industrialists and politicians yesterday (Nov 28, 2004) said that the row over the ownership issue of the Reliance Empire would be resolved soon but none was inclined to mediate terming it as "private affair".
