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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.

Affordable houses to provide Rs 500,000cr biz opportunity
The affordable housing segment will offer business opportunities worth over Rs 500,000 crore as India requires more than 10 million houses to be built by 2013-14.

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Goldman Sachs may shift London ops: report
The US financial services major Goldman Sachs is reviewing whether to move some of the company"s operations out of London, following the introduction of 50 per cent bonus tax in the UK, says a media report.
Public Company

Ranbaxy gets GMP approval from Japan

Ranbaxy Laboratories, the domestic pharma major, has got the Good Manufacturing Practice certificate from the Ministry of Health and Labour Welfare - Japan for its non-sterile drug plant at Dewas in India. - PHC to be upgraded under GE Healthcare initiative - Global swine flu death toll now over 700: WHO - Ranbaxy gets nod to sell Ran-Simvastatin tablets in Canada - Indo-American appointed to key agriculture post in US - Ranbaxy recalls skin disease drugs from US - UNITAID to meet Indian drug manufacturers The approval has been granted for a period of five years and will cover all products that are currently manufactured at this site and that will be filed in the future for Japan. On the Bombay Stock Exchange, the company"s shares last traded at Rs 274.40 on Thursday, up 2.22 per cent.


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