Retail participants can now manage their government bond holdings directly, with the help of a web-based trading platform supported and run by the Clearing Corporation of India Limited (CCIL). Bond holders have been allowed to initiate trade in the secondary market. However, there would be limits stipulated by primary members, according to regulatory norms.

Gilt trading platform for retail users goes live

Business Standard

The state Cabinet, which met here on Friday, has deferred a decision on adopting the proposed land acquisition policy due to lack of consensus among the ministers.

AP Cabinet defers decision on land policy

The government may consider sector-specific stimulus to revive the slowing growth of the Indian economy but will refrain from offering a generalised package as it aims to narrow the widening fiscal gap.

Govt may consider sector-specific stimulus: Rangarajan

As part of succession planning, P N C Menon, the founder chairman of Sobha Developers who led the company for 17 years, is stepping down to make way for his son Ravi Menon to be the chairman.

Founder makes way for son at Sobha Developers

The State Bank of India (SBI) on Saturday raised interest rate by 25 basis points (bps) for deposits with maturity of three to five years, while the Union Bank of India slashed lending rate for small and medium enterprises (SMEs) by up to 300 bps.

SBI raises deposit rate by 25 bps for 3-5-yr bucket

Bank loans to the industrial sector registered slower growth in May, compared with the same period of the previous year, due to slowing in credit flow to the infrastructure and textile sectors.

Loan growth slows in infra, textile sectors

Pfizer, the pharmaceutical giant, has gone to a US court to stop or at least delay Gujarat-based Alembic Pharmaceuticals from trying to sell a generic version of the former&rsquo;s anti-depressant drug, branded Pristiq.

Pfizer takes Alembic to US court on drug patent

IndiaCan, a joint venture between Gurgaon-based education content and services provider Educomp Solutions Limited and Pearson Inc of the US, launched its first centre for broadcast journalism in Hyderabad on Friday.

IndiaCan opens centre for broadcast journalism

The Centre&rsquo;s fiscal deficit stood at Rs 141,587 crore in the first two months of 2012-13, constituting 27.6 per cent of the budget estimates (BE) for the entire financial year. Continuation of the trend might make it impossible to rein in the fiscal deficit at 5.1 per cent of gross domestic product (GDP).

April-May fiscal deficit at 27.6% of BE

In order to lend a helping hand to the micro, small and medium enterprises (MSME) sector, which is under enormous stress, the State Bank of Hyderabad (SBH) has decided to slash the interest rates to the MSME sector across the board.

SBH cuts MSME loan interest rates

Manoj Gaur-promoted Jaiprakash Power Ventures&rsquo; offer for sale (OFS) received full subscription on Friday. The company&rsquo;s promoter, Jaypee Infra Ventures, sold about 29 million shares at Rs 33.53 to raise a little over Rs 97 crore. The issue saw bids for 32.7 million shares, 12 per cent more than the number of shares on offer. Shares of the company closed at Rs 34.8, up 0.29 per cent. Following, the share sale, the promoter holding in the company has come down to 75 per cent from 76.11 per cent. Goldman Sachs India was the broker for the transaction.

JP Power OFS issue sails through

Favourable factors on domestic and global fronts took the rupee back to a two-week high on Friday. The rupee recorded two per cent appreciation against the dollar and closed at 55.64, against 56.81 on Thursday.

Rupee rallies on fund inflows

HDFC Bank, the second largest private sector lender in the country, has reduced its lending rates by 20 basis points (bps), sources told Business Standard.

HDFC Bank reduces lending rates

Real estate developer, Prince Foundations Limited, has announced the launch of a 155-unit, ultra-luxury residential project in Chennai with an investment of Rs 400 crore.

Prince launches Rs 400-cr project in Chennai

Engineering and construction major, L&amp;T Limited, on Friday said that the strengthening dollar was going to impact the overall cost of the Rs 14,000-crore Hyderabad metro rail project for which it had to procure all the technology and systems from foreign vendors.

Re fall to impact cost of Hyderabad metro rail project: L&T

The government again goofed on crucial economic data. On Friday, hours after releasing the eight core industries numbers for May, it revised downwards the output growth in these industries to 3.8 per cent from 4.6 per cent. This time, cement production was wrongly estimated at 22.1 per cent from the actual 11.3 per cent.

Core data revised within hrs of release

The stock markets surged over two per cent on Friday on heavy buying from foreign investors after the government soothed their nerves by proposing the General Anti-Avoidance Rules (GAAR) would not apply retrospectively. A surprise deal by Euro zone leaders to support struggling banks also sparked a &lsquo;risk-on; rally, which saw global stocks and the euro surge against the dollar.

Sensex zooms 439 pts on GAAR relief, EU deal

With a sharp rise in the import bill and an economic downturn, India&rsquo;s current account deficit (CAD) shot up to $78.2 billion (4.2 per cent of gross domestic product) for the year ended March 2012, from $46 billion (2.7 per cent of GDP) the previous year. This is the highest level of CAD ever &mdash; both in absolute terms and as a proportion of GDP &mdash; according to the Reserve Bank of India.

Current account deficit hits all-time high of 4.2% in FY12

Electronic transfer of wages to bank accounts of beneficiaries under Central flagship programme - Mahatma Gandhi National Employment Guarantee Act (MGNREGA) - in Odisha is expected to be extended to all blocks by October this year.

E-payment facility for all MGNREGA beneficiaries by Oct

Agrimart, one-stop retail chain format for farm-equipment from Ratnagiri Impex Pvt Ltd, Bangalore, has forayed into Maharashtra by opening its first outlet in Maharashtra in Ahmednagar district through a strategic partnership with Tanishk Agro Services. This is the 46th such district level Agrimart outlets across India and the company plans to open 20 outlets in Maharashtra over the next 12 months and the company is scouting for investors / partners for its aggressive franchise expansion in the state. Across India, Agrimart has opened 45-outlets at district level.

BS Reporter