The Reserve Bank of India (RBI) slammed a monetary penalty of Rs 5 lakh on Ahmedabad-based the Kalupur Commercial Co-operative Bank Ltd for violation of provisions of Banking Regulation Act.

RBI fines Kalupur Commercial Coop Bank

Business Standard

Competition and capacity issues have led to a drop in market share for Maruti&rsquo;s premium hatchback. A new version aims to re-capture it.

Swift plans to continue as king of hatchbacks

With the social media reaching a stage where an individual's 'tweet' is a matter of concern for the whole organisation, the Loyola Institute of Business &amp; Administration (LIBA) is planning to cash in on the trend. LIBA will be one of the first such institutes that will be offering 'Social Media Management' as an elective for their two year full time MBA programme.

LIBA to offer MBA in social media management

ACC Limited, a part of Holcim Group, today launched its new cement brand Concrete+ in Pune. The company is targeting individual house builders as 90 per cent of sales come from this segment. With this new product, ACC expects to register 20 per cent additional sales. The product is priced at Rs 300 per 50 kg bag as compared with Rs 285 of normal branded cement.

ACC to focus house builders with new Concrete+

Karuturi Global Ltd, the largest rose producer in the world, has acquired about 7,70,000 acres of land in Ethiopia for cultivation of cereal crops.

Punjab farmers to grow multiple crops in Ethiopia

Public sector State Bank of India (SBI) on Monday launched its first specialised NRI (non-resident Indian) branch in Uttar Pradesh at Lucknow.

SBI launches first NRI branch in UP, to open 3 more in FY12

Orchid Chemicals and Pharmaceuticals Ltd is planning to enter into manufacturing of formulation drugs in three new therapeutic segments in the current fiscal. The company would invest around Rs 200 crore to support the new business.

Orchid Chem to make drugs in 3 new segments

Narmada Hydroelectric Development Corporation&rsquo;s (NHDC) much awaited subsidiary-promoted 1360 mega watt (Mw) Khandwa thermal power project is facing trouble as the central government has not cleared coal linkage for the project yet.

Khandwa power project in MP hits rough weather

In order to find a solution to the Tirupur dying units issue, Tamil Nadu government has decided to lend Rs 200 crore to the units, with zero interest. Besides, the government would also pay a compensation of Rs 18 crore to farmers who were affected by the pollution caused by the dying units.

TN govt offers two ways out for Tirupur units

The state had attracted investments to the tune of Rs 2.13 lakh crore in the sector and had inked MoUs (Memorandum of Understanding) with 50 players.

Steel projects to go under scanner yet again

Faced with problems like undulating topography, fragile environment, fragmented and small holdings, little or no irrigation facilities, poor marketing structure, that hamper the growth of the horticulture sector in the state, the horticulture department last year had launched an ambitious project to set up cluster-based 20,000 modern polyhouses to boost production of vegetables and flowers. Since the scheme has hit a roadblock, the target has been brought down to 6,000 now.

Uttarakhand announces new incentives for polyhouse scheme

Kerala chief minister Oommen Chandy announced the government&rsquo;s new slogan of&nbsp; 'Emerging Kerala 2012&rsquo; to restore its image of being an investment-friendly destination.

Kerala launches campaign to attract investments

&ldquo;The six-member committee has brought to the fore cases of violation of Rule 37 of Mineral Concession Rules-1960 in case of three operating mines of the Joda circle. The state government is contemplating action against these mine owners and the respective contractors&rdquo;, said a senior official of state steel &amp; mines department.

Committee to probe lessee-contractor nexus in five mines at Joda

Orissa, which was earlier deprived of benefits under the Accelerated-Power Development and Reform Programme (APDRP), may soon get Central assistance under this programme for upgradation of its power distribution system.

Orissa may be included under APDRP soon

The strike has been called in protest against the recent hike in diesel prices, and demanding implementation of a toll concession agreed in 2010. The proposed strike is expected to cause a loss of Rs 2,500 crore a day to the government and Rs 5,000 crore for the four southern states.

Truckers to go on strike from August 8

Hospitality player, Viceroy Hotels Limited, has completed the slump sale of its Bangalore project division to Viceroy Bangalore Hotels Private Limited (VBHPL). In a filing to the BSE on Friday, the company said it had invested Rs 47.3 crore in the equity share capital of VBHPL by way subscription of 5.9 million equity shares of Rs 10 each at a price of Rs 78.96 per share in accordance with the business transfer agreement.

Viceroy completes slump sale of Bangalore division

Rourkela Steel Plant (RSP) has recorded production figures of hot metal, crude steel and saleable steel above the rated capacity in the April-July period of this fiscal.

RSP output above rated capacity

The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) on Monday reiterated its allegations against the Emaar group stating that the company had played a fraud on it by entering into development agreement with one of its subsidiaries in the township project even as the latter argued before the AP High Court that a civil dispute between the two was made out to be a criminal case amounting to abuse of the process of justice.

Emaar changed biz model and not APIIC equity: company counsel

Bengal Aerotropolis' 10,000 crore airport city project at Andal in Bardhaman district, in which Singapore's Changi Airport holds a 26 per cent stake, is in jeopardy.

Bengal government's Asansol airport plan likely to hit BAPL's Andal project

Power situation in the city improved considerably on Monday after a massive shortfall since last night resulted in wide-spread outages here.

Power situation improves considerably in Kolkata

Press Trust of India

Inaugurating a combined daily service between Singapore and Kolkata by Singapore Airlines (SIA) and its regional wing SilkAir, West Bengal Chief Minister Mamata Banerjee on Monday urged the investors from Singapore to invest in different sectors in the state.

Mamata invites investors from Singapore

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