Top economy news of the day

India Infoline News Service | Mumbai |

The Election Commission (EC) is likely to give a conditional clearance to the Reserve Bank of India's (RBI's) proposal to issue fresh bank licences.

To attract more investments into the equity and debt markets, the Reserve Bank of India has decided to put in place a framework for investments which allows foreign portfolio investors to participate in open offers, buyback of securities and disinvestment of shares by Central or State Governments.(BL)

Expressing concern over the Election Commission's decision to defer the proposed hike in gas prices, CII said the move is against the stated government policy and will hit investment decisions of the oil and gas industry.(ET)

State oil firms will cut petrol prices by about Rs1.25 per litre just before the first round of voting, but diesel will be costlier by 50 paise as bureaucrats have decided not to interrupt the Cabinet-approved plan to raise its price every month unless the Election Commission (EC) allows this, government and industry officials said. (ET)

The Election Commission (EC) is likely to give a conditional clearance to the Reserve Bank of India's (RBI's) proposal to issue fresh bank licences. (BS)
 

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