* AVIATION: The Airports Economic Regulatory Authority has floated a consultation paper seeking views of stakeholders on hiking the user development fee charged at the Bengaluru airport. The Civil Aviation Ministry has rejected a proposal to increase foreign direct investment limit in domestic airlines to 74% from 49% currently.
* BANKING: Ratnakar Bank is targeting a profit growth of 40-45% in the current financial year. Finance Minister P. Chidambaram asked public sector banks to focus on the accounts of their top 30 performers and defaulters in an attempt to improve balance sheets.
Finance Minister P. Chidambaram said the government will capitalise IDBI Bank, Indian Overseas Bank, Bank of Maharashtra and Dena Bank with below 8% Tier-1 capital by the end of the current financial year. Almost half of the gross non-performing loans of Indian banks have come from their top 30 accounts, suggesting that stress among bigger borrowers is primarily responsible for the rising bad assets of banks.
* COAL: The ministry has allocated 14 coal blocks to state-owned power companies, including NTPC Ltd and Neyveli Lignite Corp.
* INFORMATION TECHNOLOGY: Industry body NASSCOM welcomed the government's decision on the long-standing issue of service tax refunds under the special economic zones. Services such as leased line, telecom, manpower supply, software licensing, renting and maintenance, will be upfront exempted from service tax for SEZ units.
* INFRASTRUCTURE: The Union Cabinet approved 7.10 bln rupees for Jammu and Kashmir under the rural road plan Pradhan Mantri Gram Sadak Yojana as a special one-time dispensation.
* MONSOON: The southwest monsoon picked up momentum after four days of below normal rainfall. The country received 10.4 mm rainfall today, 27% above the normal 8.6 mm, said the India Meteorological Department.
* POLICY: The Union Cabinet has cleared an ordinance to implement the ambitious food security plan, which will provide highly subsidised food grain to two-third of India 's population.
* REAL ESTATE: Real estate investment trusts and tailor-made investment options from infrastructure companies to sovereign wealth funds could get an approval soon.
* TELECOM: Wireless subscriber base recorded a marginal monthly decline of about 0.1% at the end of April to 867.02 mln, according to data released by the Telecom Regulatory Authority of India. Bharat Sanchar Nigam's workers unions have opposed the decision of the Telecom Commission favouring 100% foreign direct investment in the telecom sector.
* BANKING: Ratnakar Bank is targeting a profit growth of 40-45% in the current financial year. Finance Minister P. Chidambaram asked public sector banks to focus on the accounts of their top 30 performers and defaulters in an attempt to improve balance sheets.
Finance Minister P. Chidambaram said the government will capitalise IDBI Bank, Indian Overseas Bank, Bank of Maharashtra and Dena Bank with below 8% Tier-1 capital by the end of the current financial year. Almost half of the gross non-performing loans of Indian banks have come from their top 30 accounts, suggesting that stress among bigger borrowers is primarily responsible for the rising bad assets of banks.
* COAL: The ministry has allocated 14 coal blocks to state-owned power companies, including NTPC Ltd and Neyveli Lignite Corp.
* INFORMATION TECHNOLOGY: Industry body NASSCOM welcomed the government's decision on the long-standing issue of service tax refunds under the special economic zones. Services such as leased line, telecom, manpower supply, software licensing, renting and maintenance, will be upfront exempted from service tax for SEZ units.
* INFRASTRUCTURE: The Union Cabinet approved 7.10 bln rupees for Jammu and Kashmir under the rural road plan Pradhan Mantri Gram Sadak Yojana as a special one-time dispensation.
* MONSOON: The southwest monsoon picked up momentum after four days of below normal rainfall. The country received 10.4 mm rainfall today, 27% above the normal 8.6 mm, said the India Meteorological Department.
* POLICY: The Union Cabinet has cleared an ordinance to implement the ambitious food security plan, which will provide highly subsidised food grain to two-third of India 's population.
* REAL ESTATE: Real estate investment trusts and tailor-made investment options from infrastructure companies to sovereign wealth funds could get an approval soon.
* TELECOM: Wireless subscriber base recorded a marginal monthly decline of about 0.1% at the end of April to 867.02 mln, according to data released by the Telecom Regulatory Authority of India. Bharat Sanchar Nigam's workers unions have opposed the decision of the Telecom Commission favouring 100% foreign direct investment in the telecom sector.
