Following are the top business stories till 1915 hrs Wednesday:
FGN25 BIZ-INDIA-WB-RANKING Washington/New Delhi: India has jumped 23 places to the 77th position in the World Bank's 'ease of doing business' ranking released Wednesday, a development that could help the country attract more foreign investments.
DEL30 BIZ-RBI-LD GOVT
New Delhi: The government has for the first time ever used a provision of law to ask the RBI for resolution of differences between them on stressed loans in power sector and other issues, sources privy to the development said.
DEL49 BIZ-RUPEE-CLOSE
Mumbai: The rupee depreciated by 27 paise to close at nearly three-week low of 73.95 against the US dollar Wednesday as the American currency strengthened against major global currencies overseas amid steady capital outflows.
DEL37 BIZ-RBI ACT-GOVT POWERS
New Delhi: Section 7 of the RBI Act, hogging headlines following reported differences between the North Block and the Mint Street, empowers the central government to issue directions to the Reserve Bank in public interest.
DEL27 BIZ-STOCKS-CLOSE
New Delhi: Paring all early losses, benchmark indices Wednesday rebounded after the government said RBI's autonomy was essential but its functioning must be guided by public interest and needs of the economy.
DCM28 BIZ-LD CIL-DISINVESTMENT
New Delhi: The government's three per cent stake sale in Coal India saw strong response from institutional investors who bid for shares worth over Rs 4,200 crore and the shares reserved for them got over-subscribed in the opening day on Wednesday.
DCM37 BIZ-IDFC-LD STAKE
New Delhi: Government-backed fund NIIF Wednesday announced acquisition of controlling stake in IDFC-IFL for an undisclosed amount, amid report of liquidity crunch in the NBFC sector.
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