Banks will not lend below the minimum or base interest rate from July 1 as directed by RBI, but they may continue to give cheaper credit to some preferred clients as per their discretion under existing agreements.

The duo of Mr Malvinder Singh and Mr Shivinder Singh and their promoted company Fortis have launched an open offer to buy the remaining 74.73 per cent stake in Parkway for $2.3 billion. It is offering to buy the shares in Parkway for S$3.80 (Singapore dollars) a share as compared to S$3.78 offered by Khazanah. The duo on

Car sales showed a good growth in June, maintaining the momentum which started around January. Analysts see high sales in the auto sector continuing for the next three quarters. The country’s largest car maker, Maruti Suzuki India, has reported a 17.28 per cent jump in its sales in June.

Former Australian Prime Minister John Howard’s bid to become International Cricket Council vice-president has fallen through, with India joining other Asian and African countries to veto it.

Former Haryana DGP S.P.S. Rathore’s pension has been withheld completely from Wednesday. Rathore, in jail after his conviction in the Ruchika Girhotra molestation case, was earlier stripped of his police medals. The home ministry said the Centre decided to withhold Rathore’s pension after Chandigarh’s CJM convicted the 1965

State-run MTNL on Wednesday slashed ISD calling rates to six countries, including the United States, Canada and China, for GSM and 3G subscribers to Re 1 a minute.
This is part of a scheme to reduce call rates to 26 countries to mark MTNL’s 25 years of service. These rates will be applicable for three months.

The Centre on Wednesday sought to put a lid on the seemingly unending cycle of violence in the Kashmir Valley in recent weeks involving security forces and the civilian population by once again instructing the former to exercise “maximum rest-raint” while dealing with rioters and stone-pelters.

Union health ministry wants verification of claims made by healthcare products. The ministry is planning to take appropriate steps to verify such claims and if found to be incorrect, it will take actions against manufacturers of these products.

As the Centre prepares to fast track the process on the proposed legislation against “honour killings”, an important question — whether the law will cover all past cases of such crimes — has arisen from the “vague definition” left by legislature in the Domestic Violence Act, 2005 on its retrospective applicability.

Union home minister P. Chidambaram told reporters shortly after a meeting called by the Prime Minister on Wednesday in view of escalating violence in the Kashmir Valley that the Centre would support the state government in restoring law and order in the state. He also hoped that the situation would come under control in the next few days.