* AGRICULTURE: The southwest monsoon started exiting India by withdrawing from extreme west Rajasthan, about eight days behind the normal schedule of Sep 1.The US Food and Drug Administration is conducting inspection of arsenic level in rice being sold in the American markets including those of the basmati variety imported from India.
* AUTOMOTIVE: Toyota Kirloskar Motor Vice-Chairman Vikram Kirloskar has been elected president of Society of Indian Automobile Manufacturers. Automotive parts supplier, Cooper Standard has commissioned its manufacturing facility at Bawal in Haryana at an investment of $7 mln. Ford India , effective Thursday, hiked prices of its compact sport utility vehicle EcoSport by 30,000-50,000 rupees and has announced a 1-5% hike across models.
* AVIATION: IndiGo has raised fares by 25% to offset the impact of rupee's fall against the dollar and spike in international crude oil prices. Air India has put properties, including four flats at Peddar Road in Mumbai and a land parcel in Gurgaon, on the block and expects sale of these properties to fetch the airline 550 mln rupees. The Air Passengers Association of India has taken the airlines to the Competition Commission of India, over alleged cartelisation as airlines increased fares by 25% in tandem.
* BANKING: The Reserve Bank of India is keen on banks offering mobile point-of-sales terminals to enable cashless transactions at non-branch locations.
* COMMODITIES: Forward Markets Commission has imposed an additional margin of 5% on base metals trading in futures to tackle volatility in markets.
* GOVERNMENT: India 's widening current account deficit has pushed up the country's external financing requirements and thereby the country's external debt. The government will soon take steps to curb inessential imports and cut wasteful expenditure. The government has not taken any decision to hike oil product prices yet, and will not take any hasty decision on the same.
* MEDIA: The ministry of information & broadcasting has decided to collect revenue data from broadcasters to ascertain their loss from the proposed cap on advertising at 12 minutes an hour from October. The Sahara Group has entered into a long-term alliance with the Dainik Bhaskar Group to expand the Q Shop retail chain in Delhi through Super Bazar outlets.
* OIL AND GAS: India and Japan announced setting up of joint study group on liquefied natural gas to analyse its procurement and competitive pricing in the Asia Pacific markets. The RELIANCE INDUSTRIES-British Petroleum combine, CAIRN INDIA and OIL AND NATURAL GAS CORP, had got some of their Krishna-Godavari Basin clocks partially cleared by the Cabinet Committee On Investments; have scaled down their investment plans.
* PHARMACEUTICALS: US Food and Drug Administration has named at least five companies including RPG LIFE SCIENCES and Marck Biosciences among 43 drug-makers that have failed to meet their annual facility fee payment obligations.
* POWER: Essar Power will start mining from the Mahan coal block at Singrauli in Madhya Pradesh by the end of 2014. Nuclear Power Corporation of India plans to enhance nuclear energy capacity by 10 times to 60,000 MW by 2032. RKP Energy Pvt to set up 120 MW power plant at Srirampur, near Chhatrapur in Ganjam district in Odisha with an investment of 5 bln rupees.
* REGULATORY: RBI has raised the cap on cash resident individuals can carry abroad to 10,000 rupees from 7,500 rupees earlier. Non-resident investors including non-resident Indians can buy shares of Indian companies on the exchanges through a registered broker under the foreign direct investment scheme. The Securities and Exchange Board of India has decided to give top priority to the claims of stock exchanges and clearing corporations over collaterals, deposits or margins of defaulter entities. Securities and Exchange Board of India has signed regulatory cooperation and information exchange pacts with counterparts in 31 European countries for greater oversight of hedge funds and other alternative investment funds with cross-border presence. Serious Fraud Investigation Office will commission a fraud detection model later this month to spot corporate wrongdoing at the initial stage.
* RETAIL: France-based Lacoste has said it will not cut product prices in the Indian market. Vikram Bakshi, the joint venture partner of US fast food chain McDonald's, approached the Company Law Board (CLB) on Monday for his reinstatement as managing director of the joint venture company, Connaught Plaza Restaurants Pvt.
ABP Pvt, which runs The Telegraph English daily and Anandabazar Patrika Bengali daily, has decided to raise cover prices of its Bengali daily and newly launched E bela tabloid to 5 rupees and 3 rupees respectively.
* TELECOM: The Telecom Regulatory Authority of India recommended that the reserve price for spectrum in the 900 Mhz and 1,800 Mhz be reduced by 60% and 37%, respectively, from the current existing base rates.
* AUTOMOTIVE: Toyota Kirloskar Motor Vice-Chairman Vikram Kirloskar has been elected president of Society of Indian Automobile Manufacturers. Automotive parts supplier, Cooper Standard has commissioned its manufacturing facility at Bawal in Haryana at an investment of $7 mln. Ford India , effective Thursday, hiked prices of its compact sport utility vehicle EcoSport by 30,000-50,000 rupees and has announced a 1-5% hike across models.
* AVIATION: IndiGo has raised fares by 25% to offset the impact of rupee's fall against the dollar and spike in international crude oil prices. Air India has put properties, including four flats at Peddar Road in Mumbai and a land parcel in Gurgaon, on the block and expects sale of these properties to fetch the airline 550 mln rupees. The Air Passengers Association of India has taken the airlines to the Competition Commission of India, over alleged cartelisation as airlines increased fares by 25% in tandem.
* BANKING: The Reserve Bank of India is keen on banks offering mobile point-of-sales terminals to enable cashless transactions at non-branch locations.
* COMMODITIES: Forward Markets Commission has imposed an additional margin of 5% on base metals trading in futures to tackle volatility in markets.
* GOVERNMENT: India 's widening current account deficit has pushed up the country's external financing requirements and thereby the country's external debt. The government will soon take steps to curb inessential imports and cut wasteful expenditure. The government has not taken any decision to hike oil product prices yet, and will not take any hasty decision on the same.
* MEDIA: The ministry of information & broadcasting has decided to collect revenue data from broadcasters to ascertain their loss from the proposed cap on advertising at 12 minutes an hour from October. The Sahara Group has entered into a long-term alliance with the Dainik Bhaskar Group to expand the Q Shop retail chain in Delhi through Super Bazar outlets.
* OIL AND GAS: India and Japan announced setting up of joint study group on liquefied natural gas to analyse its procurement and competitive pricing in the Asia Pacific markets. The RELIANCE INDUSTRIES-British Petroleum combine, CAIRN INDIA and OIL AND NATURAL GAS CORP, had got some of their Krishna-Godavari Basin clocks partially cleared by the Cabinet Committee On Investments; have scaled down their investment plans.
* PHARMACEUTICALS: US Food and Drug Administration has named at least five companies including RPG LIFE SCIENCES and Marck Biosciences among 43 drug-makers that have failed to meet their annual facility fee payment obligations.
* POWER: Essar Power will start mining from the Mahan coal block at Singrauli in Madhya Pradesh by the end of 2014. Nuclear Power Corporation of India plans to enhance nuclear energy capacity by 10 times to 60,000 MW by 2032. RKP Energy Pvt to set up 120 MW power plant at Srirampur, near Chhatrapur in Ganjam district in Odisha with an investment of 5 bln rupees.
* REGULATORY: RBI has raised the cap on cash resident individuals can carry abroad to 10,000 rupees from 7,500 rupees earlier. Non-resident investors including non-resident Indians can buy shares of Indian companies on the exchanges through a registered broker under the foreign direct investment scheme. The Securities and Exchange Board of India has decided to give top priority to the claims of stock exchanges and clearing corporations over collaterals, deposits or margins of defaulter entities. Securities and Exchange Board of India has signed regulatory cooperation and information exchange pacts with counterparts in 31 European countries for greater oversight of hedge funds and other alternative investment funds with cross-border presence. Serious Fraud Investigation Office will commission a fraud detection model later this month to spot corporate wrongdoing at the initial stage.
* RETAIL: France-based Lacoste has said it will not cut product prices in the Indian market. Vikram Bakshi, the joint venture partner of US fast food chain McDonald's, approached the Company Law Board (CLB) on Monday for his reinstatement as managing director of the joint venture company, Connaught Plaza Restaurants Pvt.
ABP Pvt, which runs The Telegraph English daily and Anandabazar Patrika Bengali daily, has decided to raise cover prices of its Bengali daily and newly launched E bela tabloid to 5 rupees and 3 rupees respectively.
* TELECOM: The Telecom Regulatory Authority of India recommended that the reserve price for spectrum in the 900 Mhz and 1,800 Mhz be reduced by 60% and 37%, respectively, from the current existing base rates.
