Nov CPI-AL inflation rises to 42-month high of 13.43%
NEW DELHI: India’s annual inflation rate based on the Consumer Price Index for agricultural labourers rose to a 42-month high of 13.43% in November from 12.65% a month earlier, the Labour Bureau said. The inflation rate based on CPI for rural labourers rose to a 42-month high of 13.27% in November from 12.48% in October. The food inflation based on CPI for agricultural labourers rose to 14.73% in November from 13.62% in October, and that based on CPI for Rural Labourers rose to 14.54% from 13.11% a month ago. The overall index for both agricultural and rural labourers rose 1.43% month on month to 777 in November. The rise in the inflation rate based on CPI for agricultural labourers in November is in line with the increase in rates based on the more widely tracked CPI (Combined) and Wholesale Price Index. -Cogencis
Adil Zainulbhai joins RIL as Ind Director
New Delhi: Reliance Industries announced the appointment of Adil Zainulbhai, who till recently was chairman of McKinsey India, as independent director on its board. “With this the Board will expand to 14 members with 8 members being Independent Directors,” the company said in a statement. RIL Chairman and Managing Director Mukesh Ambani said: “Adil is undoubtedly one of the finest consulting minds in the world and we are delighted to have him join our Board. I look forward to his contributions in strengthening Reliance and preparing the organisation for sustained high growth.” Zainulbhai, till recently the Chairman, McKinsey India, has had a very distinguished 34 year career, consulting with a variety of global and Indian corporations and their boards.
Rs 10 notes with rupee symbol coming
New Delhi: Reserve Bank will shortly issue Rs 10 denomination banknotes incorporating rupee symbol with inset letter ‘R’ and ‘L’ in the Mahatma Gandhi Series-2005. The banknotes will bear the signature of Governor Raghuram G Rajan and the year of printing ‘2013’ printed on the reverse of the banknote, RBI said in a release.
Fin min mulls IOC stake sale in Jan
NEW DELHI: The government, which is currently holding domestic road shows for 10% stake sale in Indian Oil Corp Ltd, is aiming to divest stake in the state-owned oil refiner in the second week of January, a finance ministry official said. “IOC domestic road shows were held in Mumbai on Dec 18-19. Today, it is in Chennai. The possibility of the offer is after the foreign investors are back from the New Year holidays,” the official said.
The government had held international road shows for the offer for sale in the company in November. The government will next week decide on the timing of the offer, the official said. -Cogencis
Vijaya Bank tier II bonds fully subscribed
Mumbai: Vijaya Bank, a prime nationalized bank, raised Rs250 Crore [Basel III] Compliant Bonds through Private Placement. The issue opened on 17-12-2013 and closed on 20-12-2013. The issue was fully subscribed by the investors.