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Business

Rupee improves further by 12 paise vs dlr to end at 49.92/94

In tandem with the sharp rally in equity markets, the Indian rupee today ended up by another 12 paise to a one-week high of 49.92/94, despite late dollar demand. The weakness in the dollar overseas against its major rivals also helped the rupee rise.
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RBI should direct banks to increase credit flow to micro units

Pitching for norms for end use of bank credit, the Arjun Sengupta panel has said the RBI needs to direct banks to increase flow of funds to micro enterprises at reasonable rates as merely pumping in more liquidity in the system was not enough....
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Indian cooks to benefit from Malaysian Govt. delaying double levy policy for foreign workers

Malaysia’s Human Resources Minister Dr S. Subramaniam has announced that the doubling of the levy for foreign workers has been deferred due to the economic crisis, a move that that will benefit thousands of Indian workers employed in the food outlets in the country....
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PNB reduces lending rate by 50 basis points

The Punjab National Bank on Thursday reduced its benchmark lending rate by 50 basis points to 11 percent. The Benchmark Prime Lending Rate (BPLR) has been slashed from 11.5 per cent to 11 per cent effective tomorrow, the bank said in a statement. ...
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Key witness in Ambani's helicopter sabotage case found dead

In a mysterious turn to the Anil Ambani chopper sabotage case, the man who spotted the pebbles in the fuel tank of the industrialist's helicopter was found dead today on a railway track in a Mumbai suburb and the police said it was a case of "suicide"....
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Obama wants renewable energy partnership with India

With his administration focusing on alternative sources of energy so as to reduce dependence on fossil fuel, US President Barack Obama wants to build Indo-US renewable energy partnership which would end up in benefiting not only the two countries, but also the entire world....
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India to grow at over 7 pc in the current fiscal: PMEAC

Prime Minister's Economic Advisory Council (PMEAC) today said it expects the country's economy to grow at over seven per cent in the current fiscal as it has already started showing signs of recovery....
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Satyam's independent directors clean: SFIO

Independent directors of Satyam were not involved in the multi-crore accounting fraud in the IT company and were kept in the dark by founder-chairman B Ramalinga Raju, the Serious Fraud Investigation Office has concluded....
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Chidambaram takes dig at BJP on economic growth

Taking a dig at the previous NDA government led by the BJP for poor economic performance, Union Home Minister P Chidambaram today said the Congress-led UPA regime pushed up the average annual economic growth from 5.8 per cent to 8.5 per cent in the last five years....
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Oil firms raise ATF price for third time in a month

State-run oil companies today raised prices of jet fuel or ATF for the third time in a month, this time by about 6.7 per cent, in step with international rates, which are firming up. IndianOil, Bharat Petroleum and Hindustan Petroleum had on April 1 raised aviation turbine fuel prices by 10 per cent ...
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