Record foodgrains output of 252.56 MT seen in 2011- 12
NEW DELHI: The countrys foodgrains production estimate has been revised upwards by over two million tonnes to a record 252.56 MT in 2011- 12. In foodgrains category, rice produc
tion has been pegged at a record 103.41 million tonnes ( MT) from 102.75 MT in the earlier estimate released in February. Last year, rice production stood at 95.98 MT. Wheat output has also been revised upwards at 90.23 MT, as against 88.31 MT in the second advance estimate of 2011- 12 and 86.87 MT last year.
Indias GSM subscribers cross 664 mn
MUMBAI: The countrys GSM cellular subscriber base touched 664.08 million as of March 2011. Airtel led the operators with 181.28 million subscribers. It also added the maximum number of subscribers in the month of March at 2.50 million. UP ( E) topped the GSM circle with 56.67 million subscribers. Amongst all the circles B Circle is the fastest growing circle, it has grown at a rate of 1.31% and forms 49.27% of the total additions during March 2012.
Corp Bk revises base & FD deposite rate
MUMBAI: Corporation Bank has revised its Base Rate for lending from 10.65 % to 10.50% per annum wef. May 1, 2012. The banks Rate of Interest on Term Deposits has been reduced by 25 to 200 basis points across different maturities, the bank said.
Greater Bk launches alt145 Our Money Your Goldscheme
MUMBAI: Greater Bank ( The Greater Mumbai Cooperative Bank) has launched its ” Our Money Your Gold” gold loan scheme for its customers across Mumbai, Navi Mumbai, Thane- Dombivali and Mira- Bhayander. The bank will offer its loans based on loanable per gram gold rate declared every month by it at 13% on a daily reducing balance method wherein customers are liable to pay interest only on outstanding gold loan amounts, the bank said.
HDFC Bk, Wells Fargo launch Remittance Service
MUMBAI: US based Indian diaspora can now remit funds to relatives holding HDFC savings account in India. The private lender will utilize US based financial company, Wells Fargos network across US. Under the partnership, the first transaction needs to be conducted at a Fargo Wells branch. Subsequent transactions can be conducted through Wells Fargo. com or Wells Fargo Phone Bank.
Ultratech FYalt39 12 net up 42 pc at Rs 2,446 cr
MUMBAI: Countrys largest cement maker Ultratech today clocked a 42 per cent rise in its standalone net profit for the year 2011- 12 at Rs 2,446 crore on higher sales. The company, an Aditya Birla Group flagship, had reported Rs 1,719 crore net profit in the previous fiscal.
Net sales of the company, which currently has 52 million tonnes of cement making capacity, rose to Rs 18,166 crore as compared to Rs 15,406 crore in the previous year, it said in a statement. Ultratechs board has recommended a dividend of 80%. Cairn- Vedanta deal: SC seeks govt response MUMBAI: The Supreme Court on Monday issued a notice to the Centre on a petition challenging the validity of the $ 8.5- billion Cairn- Vedanta deal and sought a CBI probe into the same. Acting on public interest litigation by Bangalore- based Arun Kumar Aggarwal, a bench headed by Justice DK Jain also issued a notice to Oil and Natural Gas Corp ( ONGC), Cairn Energy and Vedanta Resources.
The PIL sought a investigation into the reasons behind ONGC and the governments failure to assert their legal rights when Cairn India sold its shares to Vedanta.
