* AVIATION: Oil marketing companies cut aviation turbine fuel prices by average 3,676.41 rupees per kl.
* BANKING: Non-food bank credit grew 14% in the year ended March, below the RBI's indicative projection of 16% for the financial year.
* FERTILISERS: Cabinet approves nutrient-based subsidy for phosphatic, potassium fertilisers, down 15%.
* GOVERNMENT: Additional Solicitor General Harin Raval has resigned from his post over the coal allocation scam report claiming he was made a scapegoat in the issue.
* INDUSTRY: The output of eight key infrastructure sectors in the country grew 2.9% on year in March.
* INFRASTRUCTURE: Finance ministry is not in favour of allowing road developers to divest their entire equity in projects immediately after achieving commercial operation.
* INSURANCE: Finance ministry has asked ICICI Prudential to pay up over 1.30 bln rupees for alleged tax evasion.
* MEDIA: Cabinet has approved auctioning additional FM radio channels. TV channels have blacked out advertisements over a spat with Advertising Agencies Association of India.
* METALS: The government has raised the base import price of gold to $477 per 10 gm from $472.
* PHARMACEUTICALS: Companies such as Eli Lilly, Novo Nordisk, TORRENT PHARMA, and LUPIN may not get regulatory approval to hike insulin rates.
* REGULATORY: The Securities and Exchange Board of India wants single regulator for deposit-taking companies.
* RETAIL: The Supreme Court has dismissed a plea against foreign direct investment in retail.
* TELECOM: The Cellular Operators Association of India has sought the intervention of Prime Minister's Office to try and stop the implementation of proposed policy of 30% domestic sourcing norm for electronic and telecom network gear.
