In a bid to make insurance a significant part of the ongoing financial inclusion initiatives in rural areas, the Insurance Regulatory and Development Authority (Irda) has come up with the concept of an &lsquo;everything product&rsquo; to address several risks of a typical household, with a single premium.

Irda suggests an 'everything product' for villagers

Business Standard

The case has been registered following the directions of the Supreme Court.

CBI registers case against Yeddyurappa

The annual Plan of Punjab for 2012-13 was pegged at Rs 14,000 crore with an increase of 22 per cent over the previous year in a meeting between Planning Commission of India deputy chairman Montek Singh Ahluwalia and Punjab chief minister Parkash Singh Badal in New Delhi on Monday.

Punjab's annual Plan rises 22% to Rs 14,000 cr

The Comptroller and Auditor General (CAG) on Tuesday criticised the roles of the Department of Space and its former secretary, G Madhavan Nair, in the Antrix-Devas deal, saying the deal was a &ldquo;classic case of public investment for private profit&rdquo;.

Antrix deal a case of public investment for pvt profit: CAG

In what may bring relief to personal income tax assessees from the next financial year, Finance Minister Pranab Mukherjee on Tuesday said many recommendations of the Parliament standing committee on the Direct Taxes Code (DTC), expected to come into effect from 2013-14, would be accepted. The committee, headed by Bharatiya Janata Party leader Yashwant Sinha, had recommended raising the tax exemption limit from Rs 2 lakh a year to Rs 3 lakh, besides much wider tax slabs.

Many recommendations on DTC will be accepted: FM

Raja and his supporters might be in a celebratory mood after the former was granted bail by a special CBI court here, but the Opposition is not amused. Targetting not just the DMK, an ally of the United Progressive Alliance (UPA), but also the ruling coalition, the Bharatiya Janata Party (BJP) on Tuesday said there were more people within the UPA government whose role should be probed.

More people in UPA must be probed, says Opposition

Andimuthu Raja, former telecom minister and the prime accused in the 2G spectrum scam, was granted bail on Tuesday after 15 months in Tihar jail. Raja was the last accused to get bail in the 2G telecom case, which has drawn the world&rsquo;s attention over the alleged nexus between several members of the government and businesses for inappropriate and out-of-turn spectrum allocation to companies.

Raja gets bail after 15 months in jail

High interest costs, lease rents and higher depreciation expenses brought down net profit of Pantaloon Retail (India) Ltd&rsquo;s core retail business by 76 per cent in the quarter ended March 2012 to Rs 12.03 crore, compared with Rs 50.54 crore in the year-ago period.

Pantaloon posts 76% drop in profit, to hive off Home Town

Taking cognisance of a complaint filed by MP Tarun Vijay, the Advertising Standards Council of India (Asci) has asked British consumer goods maker Reckitt Benckiser to rectify its advertisement for Dettol soap. The ad, which was published in leading dailies in February, spoke of how Dettol, if used everyday for bathing, could help keep a child healthy during exams.

Dettol's 'Health 100% Marks 100%' ad misleading: Regulator

Realty firm Unitech Ltd recorded a steep fall of 97.7 per cent in its net profit during the fourth quarter of 2011-12, compared with that in the corresponding period the previous year. Its net profit was&nbsp;down to Rs 2.26 crore in the quarter ended March 2012, against Rs 102.5 crore in the same period last year.

Unitech net profit down 98%

Aditya Birla Nuvo, which has interests in fashion to financial services, saw a 42 per cent fall in net profit in the March quarter, thanks to a rise in depreciation and interest costs relating to its 3G investments in the telecom business.

Aditya Birla Nuvo net falls 42%

With Haryana heading for Record rabi production in wheat, efforts should be laid on ensuring the cash surplus available with farmers is leveraged to create a long term financial asset, said A M Sharan, FC &amp; PS (Finance), Haryana government He said record rabi production provides multiple opportunity and challenge to banking sector.

'Record rabi production brings opportunity'

The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 60 lakh on Sujit Karkera, a trader who went piggy back on information coming from a trader at one of the largest foreign institutional investor Citigroup Global Markets Mauritius. Sebi also imposed a total fine of over Rs 58 lakh against Karkera's father Purushottam Karkera and wife Shilpa Kotak. Karkera used both their accounts to trade on information from Citi.

Sebi fines trader for front running

The Enforcement Directorate (ED) is investigating the country&rsquo;s leading mobile operator, Bharti Airtel, under money-laundering and foreign exchange rules.

ED probing Bharti Airtel, says FinMin

Even as the Human Resources Development minister Kapil Sibal was of the view that all political cartoons should be withdrawn from text books, the Congress on advocated a debate on the issue stressing that the party is always in favour of freedom of speech.

Cong calls for debate on cartoon issue

Hinduja flagship company Ashok Leyland is planning to invest around Rs 4,150 crore in Tamil Nadu. The proposed investment includes an LCV project along with company&rsquo;s Japanese partner Nissan. As part of the capex for the present fiscal, the company said it will invest Rs 800 crore in joint ventures, research and development, and others.

Ashok Leyland lines up Rs 800 cr capex

Hyderabad-based pharmaceutical company Aurobindo Pharma limited (APL) on Wednesday stated that it has received final approval from the US Food &amp; Drug Administration (USFDA) to manufacture and market Lamivudine and Zidovudine tablets.

Aurobindo gets USFDA approval for two tablets

Anand-based Elecon Engineering Company Ltd.

Elecon Engg net up 4%

Ahmedabad-based Asahi Songwon Colors Limited (ASCL) announced its unaudited financial results for the quarter and year ended March 31, 2012. Asahi Songwon Colors Limited has achieved a sales income of Rs 233.92 crore from Rs 183.99 crore for the year ended March 31 reflecting a rise of 27 per cent over what was achieved during previous year. EBITDA for the year ended also increased by 46 per cent compared to previous period. PAT increased by 12.50 per cent from Rs 20.03 crore to Rs 22.54 crore. &quot;We have been able to achieve sustained growth due to the strength of our product quality and strong customer base. We are doing an expansion at a cost of Rs 45 crore to increase capacity in our product range,&quot; said Paru M Jaykrishna, chairperson and managing director of the company.

ASCL posts 27% growth in 2011-12

Posco India on Wednesday pressed for handing over of 2,700 acres of land to the company for start of construction of its much hyped project in the state.

Posco presses for early hand over of land for project

ARSS Infrastructure has reported a loss of Rs 29.61 crore in the year ending March 31, 2012 as against Rs 112.16 crore profit in the previous comparable period. ARSS blamed unprofitable construction projects, which have suffered from time overrun leading to payment of heavy penalties, for dragging down of revenues and profit.

BS Reporter