ST ANDREWS, Scotland (Reuters) - Following are comments on Friday from Group of 20 finance ministers and central bank policymakers meeting in Scotland. (Not in Italy) but in other countries, there is too much liquidity in banks and too little being passed on from banks to businesses. We are back to (a situation where) the stock market is too high .. more »

Steel Authority of India Ltd (SAIL), the nation s biggest state-run producer, plans to build a 10 million metric tonne steel mill in expectation of beating ArcelorMittal for the rights to control the nation s biggest iron ore reserves. Sites for a plant to exploit the Chiria deposit in Jharkhand state are being shortlisted, chairman SK Roongta said .. more »

Tata Steel, the world’s sixth largest steelmaker, said on Friday steel sales at its Indian operations jumped 38 per cent in October to 462,000 tonnes, compared to same period last year. The Indian operations contribute about a quarter of the group’s total annual global capacity of 30 million tonne, which includes Corus, Europe’s .. more »

The merger with NMDC has not happened and we will continue to be an independent company like before. We will continue to procure iron ore from NMDC at the present market prices, until we are allotted captive mines. Presently, we buy iron ore fines from NMDC at long-term prices, which work out to Rs 1,663 per tonne of iron ore fines. Meanwhile, we .. more »

'In view of the expected expansion in domestic demand for steel, there is an urgent need to add to domestic capacity,' he said. Rashtriya Ispat Nigam Ltd is already doubling its capacity from three million tonnes per annum (MTPA) to 6.3 MTPA at the cost of Rs 12,200 crore. National Mineral Development Corporation Ltd, a navratna company, is .. more »

Dharamsala: Thirty four passengers, including 13 women and six children, were killed and 31 others injured when an over-crowded bus rolled down a gorge near Haripur Guler in Himachal Pradesh's Kangra district today. While 18 died on the spot, others succumbed to their injuries in various hospitals in the district, the deputy commissioner, Mr .. more »

Hyderabad, Nov. 6: The CBI on Friday named T.N. Shastri, chairman-cum-managing director of Panineeya Sanskrit College Trust and K. Anil Kumar, secretary, Panineeya Institute of Technology and Science in the All India Council for Technical Education scam. A case of Criminal Conspiracy, Cheating and Prevention of Corruption Act was filed against .. more »

New York, Nov. 6: The Federal Bureau of Investigation (FBI) has charged 14 people, including two Indians and the Wall Street professionals, in the $53 million insider trading scam, the largest ever such case in the United States. The latest action brings the number of people who have been charged in the case to 20, including four Indians. The .. more »

"People should come forward in exposing the corrupt. Today, the state is marching ahead in all spheres of development. Hence, it is all the more important for each one of us to ensure that corrupt practices do not derail the process of economic growth and development," Patnaik said while addressing the concluding session of the Vigilance .. more »

State Bank of India (SBI) has cut rates on select deposits by 25 to 50 basis points, reports CNBC-TV18's SBI is leaving no stone unturned in reducing their cost of funds a move largely to improve their margins. They have now reduced their deposit rates for the third time since July this year. They have reduced the deposit rates by 25 to 50 basis .. more »

Mumbai: The country s two largest banks, State Bank of India (SBI) and Punjab National Bank (PNB), on Friday cut deposit rates by 0.25% to 0.50%, effective 9 November even as SBI extended its cheap home loan rate scheme till March. Following the rate cut, deposits for 181 days to less than one year will offer 5.25%, down from 5.75%. Deposits .. more »

State Bank of India has been told by the Government to refrain from going in for further acquisitions of associate banks within the SBI Group. The Government is preparing a comprehensive paper for taking a holistic view on consolidation in the public sector banks and mergers within the SBI Group, official sources said. Indications are that the .. more »

The government today decided that all listed central public sector enterprises (CPSEs) would increase the public holding to 10 per cent and all unlisted profitable state-owned entities should go public. "All profitable listed CPSEs should need the mandatory listing of 10 per cent public ownership," Home Minister P Chidambaram told .. more »

The government today decided that all listed central public sector enterprises (CPSEs) will increase the public holding to 10 per cent and all unlisted profitable state-owned entities should go public. "All profitable listed CPSEs should need the mandatory listing of 10 per cent public ownership," Home Minister P Chidambaram told .. more »

In the age of public-private partnerships (or PPP), the question has to be answered: What if the final reality differs radically from the initial plan? Who bears the pain of negative outcomes, and who enjoys the gain of positive ones? The question acquires urgency because of developments in areas as diverse as airport development and the .. more »