The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 1 lakh on Ahmedabad-based Gujarat Mercantile Co-operative Bank Ltd for violation of RBI directives and persistence of irregularities pointed out in the previous RBI inspection report.

RBI fines Gujarat Mercantile Coop bank with Rs 1 lakh

Business Standard

India's branded and perhaps one of the first organised flower retail chains--Ferns N Petals started out in 1994 with a small outlet in Delhi and has now grown to over 110 stores in the country and abroad (through franchise model) with an annual turnover of Rs 100 crore. Ferns N Petals recently launched a training academy to create a platform for potential and aspiring Indian florists to learn the ways of the business.

Q&A: Vikaas Gutgutia, Co-founder & MD, Ferns N Petals

The Indian Council of Agricultural Research (ICAR), the apex body for agricultural research in India, has prepared a blueprint to increase the cashewnut production in India in a phased manner and achieve self-sufficiency by 2013-14. Presently, Indian processors import over 600,000 tonnes of raw nuts to meet the demand which is equal to the domestic production.

ICAR blueprint to up cashew output

President Pratibha Patil on Sunday said there was the need to include the comparative study of both international and domestic laws to equip professionals to meet challenges in the 21st century.

India still lacks knowledge of international law: President

Press Trust of India

The Karnataka Information Commissioner (KIC) has so far disposed off 22,000 applications seeking information on various issues. KIC commissioner Shekar Sajjanar said here that the commission had so far received 30,000 applications of which nearly 76 per cent had been disposed of.

'About 22,000 RTI applications disposed off'

NGOs like the FKCCI must join hands with the government to accelerate the process of revitalising manufacturing, services and trade (MST). With this in mind, FKCCI is making efforts to strengthen the district chambers, FKCCI president J R Bangera has said.

FKCCI seeks to strengthen district chambers

The Union ministry of heavy industry has launched its first vehicle recycling and dismantling demonstration centre at the site of proposed Global Automotive Research Centre (GARC) under the National Automotive Testing and R&amp;D Infrastructure Project (NATRiP) at Oragadam, near Chennai.

Centre's first vehicle recycling facility gets going near Chennai

Zensar Technologies is planning to make its first forays into tier-III cities driven by cost advantages and talent availability in the smaller towns, said vice-chairman and CEO Ganesh Natarajan recently.

Zensar Technologies eye tier-III cities for expansion

Issues of ensuring financial stability and enlarged public debt would take centre stage in the fiscal and monetary policies of the country, while inflation is expected to get lesser emphasis, said former Reserve Bank of India (RBI) governor Y Venugopal Reddy.

'Inflation to get less emphasis in future'

Reserve Bank of India deputy governor Subir Gokarn has said the Centre&rsquo;s fiscal situation is far away from the ideal condition seen in 2007-08 and is making a &ldquo;significant contribution to inflationary pressure.

Fiscal situation adding to inflationary pressure: Gokarn

Three years after it was announced, the Uttarakhand hill industrial policy is slowly picking up momentum in the state.

Hill industrial policy finally gets impetus

Chief minister N Kiran Kumar Reddy has said that more works had to be included to widen the scope of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).

CM wants more works to be under MGNREG

The Comptroller and Auditor General (CAG) of India, has recommended a more prudent public debt management to the Uttar Pradesh government.

CAG for more prudent debt mgmt in UP

Oriental Hotels Ltd, a Chennai-based hospitality firm in which the Taj group owns 34.47 per cent stake, is planning to open a 180-room Vivanta by Taj hotel in Coimbatore.

Oriental Hotels to open Vivanta by Taj in Coimbatore

After announcing minimum support prices (MSP) for certain minor forest produce, the Madhya Pradesh government is contemplating to bring more commodities under MSP. So far, the state has announced MSP on shellac and chironji.

More forest produce to come under MSP

Former minister for information technology Katta Subramanya Naidu and his son Katta Jagadish, who are accused of taking Rs 87 crore kickbacks in the allotment of land to a software company, were sent to judicial custody after the Lokayukta court rejected their bail pleas on Monday.

Ex-IT minister in custody

The Federation of Indian Export Organisations (FIEO), southern region, after assessing the impact of the downgrading of the US credit rating from AAA to AA+ said, India&rsquo;s exports will come under the cloud of uncertainties this year and there will be pressure on pricing of Indian merchandise.

Exports may be affected in coming months: FIEO

Everonn Education Limited, a Chennai-based VSAT education network company, plans to invest around Rs 150 crore in the present fiscal. Besides, the company is also planning to foray into foreign countries including Africa during the present fiscal.

Everonn plans Rs 150 cr capex

Emami Biotech Ltd, a part of the Rs 3,700 crore Emami Group of Companies, is planning to triple its edible oil refining capacity with an investment of around Rs 550 crore. This would help the company capture 10 per cent of the Rs 15,000 crore branded edible oil market in next three years, said a senior executive of the company.

Emami Biotech to invest Rs 550 cr to up capacity

Riding on a host of new launches, with a focus on the commercial vehicle segment, ailing auto maker Hindustan Motors (HM) is expecting a revival of fortune in another three years' time, a top company official said on Monday.

HM banks on new launches in commercial vehicle segment to revive fortune

The illegal trade of Fake Indian Currency Notes (FICNs) continues unabated in Uttar Pradesh, especially in districts bordering the Himalayan kingdom of Nepal.

Fake currency trade is unabated in UP

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