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Assam gives awards to ‘Best Performing’ PSUs

July 12, 2012

It is for the first time that Assam has awarded three of its “best performing” state level public sector undertakings (PSUs) The initiative is aimed at boosting performances of its companies. The three state PSUs that have been awarded are: ..

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L&T acquires Henikwon Corporation

July 10, 2012

Engineering giant Larsen & Toubro (L&T) acquired Malaysia-based electrical equipment manufacturer Henikwon Corporation. The acquisition was made by L&T’s wholly-owned subsidiary Tamco Switchgear, a part of the engineering major’s electrical and automation (E&A) business. Henikwon Corporation manufactures low and medium ..

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Maruti Suzuki India Ltd to merge with Suzuki Powertrain India Ltd

June 24, 2012

Maruti Suzuki India Ltd and Suzuki Powertrain India Ltd have decided to enter into a merger. The merger will assist them manufacture and meet the mounting demand for diesel vehicles Suzuki Powertrain is a 30:70 ratio joint business enterprise between ..

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Government rejects Fitch ratings

June 23, 2012

Lashing out at global rating agencies for reducing credit outlook of Indian banks, the government held these bodies are fully capitalized and there is nothing to worry about them. Finance Minister Pranab ruled out the Fitch revision enunciating that the ..

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SBI violates RBI norms on RIL loans

June 12, 2012

SBI temporarily exceeded RBI-set credit exposure limit for the consecutive 4th year in 2011-12 in case of loans given to Reliance Industries Limited (RIL). It also infringed RBI’s single borrower exposure rules in case of loans to two state-run entities ..

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SBI posts nearly 200-time increase in profit for Jan-March period

May 23, 2012

SBI, India’s largest bank posted nearly 200-time increase in profit at over Rs 4,000 crore for January-March period. This is the highest ever quarterly profit in SBI’s history and is on the back of a sharp fall in provisioning for ..

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