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RBI says banks didn't follow rules
The Reserve Bank of India (RBI) has pointed out serious lapses in the way banks sold derivative products in 2007 and 2008. This is part of RBI’s reply to a questionnaire sent by the Central Bureau of Investigation (CBI). The Orissa High Court had last year asked the CBI and the Enforcement Directorate to submit a report on the derivative losses incurred by the industry last year.

Textiles Ministry demands change in Drugs and Cosmetics Act
The Textiles Ministry is pushing for amendments in the Drugs and Cosmetics Act to ensure that quality standards are set for new medical textiles used in products like baby diapers, contact lenses and surgical gloves to promote their sales.

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Mukesh Ambani's private and unlimited gold mine
Much ink has been spilt and will continue to be on who is to get the supply of natural gas from Reliance Industries’ (RIL’s) stupendous D6 find in the Krishna-Godavari basin.
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Pantaloon transfers retail biz to Future Value

Kishore Biyani-led Pantaloon Retail (India) today said it will transfer its value retail business to its group company, Future Value Retail. - Global tie-ups, private labels to be buzzwords in retail this year - Retailers upbeat on 2010; line up Rs 600 cr for investment - The game changers - Expect moderate returns in 2010 - Future Group expands menu; to set up hotels in next 6 mths - Future Value Retail to start functioning from Jan 1 The company"s committee of directors at a meeting held on December 31 approved transfer of value retail business of the company to Future Value Retail--a wholly-owned subsidiary, Pantaloon Retail (India) said in a filing to the Bombay Stock Exchange. Pantaloon"s value retail business would be transferred with "all its assets, rights, liabilities or obligations of all nature and kind, along with its employees related to value retail business on an on-going concern basis," it added. The value retail business would commence with effect from today in Future Value Retail Ltd, it said.


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