Reliance Power and Reliance Natural Resources Ltd (RNRL), both part of the Anil Ambani Group, are considering a merger. Both the companies have a board meeting on July 4 to consider merging RNRL into Reliance Power. The swap ratio and other details haven’t been announced yet. The combined market capitalisation of the two firms was over Rs 52,000 crore on Friday.

Chhota Rajan aide and deceased gangster Farid Tanasha wanted to bump off Bharat Nepali as he was strengthening his hold in Rajan’s stronghold — Tilak Nagar. According to the sources, Tanasha had informed his mentor Rajan about Nepali’s growing influence in the area. He also asked Rajan to entrust him the job to eliminate Nepali.

Divisions within the ICC on Friday deepened with Prime Ministers of Australia and New Zealand asking John Howard not to withdraw his candidacy for the vice-president’s post even as new president Sharad Pawar hit back at his detractors saying the former Aussie PM did not have the numbers.

Rramachandran Nair works as a branch manager with a multinational logistics company in Hyderabad. The 33-year-old is married, and has a 4-year-old daughter.

Financial goals
T

Circa 2007, the equity markets are on a roll. Rajesh has just made a quick 30 per cent gain in his equity portfolio, in a matter of days. The tip which he had received and his resultant action — acting on it had brought him this gain. Rajesh was yearning for more. His banker was offering him a personal loan and as Rajesh was having a great ride in his equity investments, he took on this liability.

The UK-based Royal Bank of Scotland (RBS) on Friday announced the sale of its retail and commercial banking business in India worth $1.8 billion (Rs 8,500 crore) to British banking major, HSBC.

On the heels of the market leader SBI extending its concessional home-loan rates, the mortgage leader HDFC on Friday announced its 8.25 per cent teaser rate home-loans till the end of August.

The RBI on Friday proposed limiting annual salary increases of chief executive officers or wholetime directors of private banks to 10-15 per cent, besides a provision for slashing remuneration in case of poor financial showing.

In a move to tame the inflationary pressures, the Reserve Bank of India (RBI) hiked the rate at which banks borrow from it (repo rate) and the rate at which it pays banks which parked their funds with it (reverse repo) by 0.25 per cent but these are unlikely to impact housing, personal and auto loans immediately.

The Mumbai police claimed to have detected the serial murders and rape of minors in Kurla’s Nehru Nagar area, when they arrested 19-year-old Javed Rehman Shaikh. However, since Javed’s DNA matched with the evidence of only the third victim Nusrat Shaikh, the police suspected that there were more accused involved in the crime.