BUSINESS STANDARD SUMMARY - 29th September

Submitted by
Amit singh
Anjali shukla
Anshu Mittal
SECTION- G

Sensex- 20104(decrease 12.52)
Nifty - 6029(decrease 6.15)

PROFIT FARMS GET ROLE IN FINANCIAL INCLUSION

Researve Bank Of India(RBI) allowed for profit companies with large and wide spread retail outlets to act as Business Correspondents(BCs).
Non banking finance companies(NBFCs) have been excluded from the list.
Bharti Airtel is a host of the companies.
Bharti Airtel has received licence to start financial service on mobile phone
Chanda Kochhar- MD & CEO of ICICI Bank.
S K MITRA- President of agriculture and ruler banking at Axis Bank.
1.5 million telecom retailers could now become Bcs.
Phone number of an individual could be come his account number with retailer.
According to RBI only 5 percent of india's 600000 habitatians have access to a commercial bank.
In india only 40 percent population have bank account

Tembhali village will be host the launch of the center's much valuanted unique identification programme or Aadhar.
Air india has lossed of over Rs. 7200 crore and is expected to make further losses of Rs. 5000 crore in FY11.


COMPANIES( Page-2)

HCC eyes buys in Europe, West india
Hindustan construction company(HCC) is exploring acquisituion in Europe, West Asia, and South asia
HCC will spend around $ 100 million or more for each of new acquisition
Praveen sood- Group chief finance officer of HCC

Suneet Maheshwari – Chief executive of Larsen & Turbo Ltd.(L&T)
G V Sanjay Reddy- Vice chairman of GVK power & infrastructure
Shinzo Nakanishi- MD & CEO OF Maruti suzuki
Bipasa Basu will be new Brand ambassador of EMAMI(FMCG) companies
Indian furniture sector grow 20 percent and imports nearly 64 percent
British Airways announced the 14 board members and three sub committees of the International consolidate Airline Group(IAG)
Antonio Vazquez Romero- chairman of IAG
Martin Broughton- Deputy chairman of IAG group.
Rajiv Jain- He has been appointed a new chairman of Gems & Jewellery Export Promotion Council(GJPEC), Instead of Vasant mehta .
Rajiv Lall- CEO & MD of Infracture Development Finance Company(IDFC)


BP RIL TO DISCUSS ASSETS SALES JOINT VENTURES
BP and Reliance Industry Ltd.(RIL) will set the ball rolling on divestment and joint venture opportunity between the two companies
Henric Svanberg- Chairman of BP companies
Robert Dubley- Newly appointed CEO of Bp companies
BP has 70-80 percent of ATF market in a African country.
ONGC Videsh Ltd.(OVL) is also in the race to buy Bps 35 percent stakes in the $1.3 billion Nam Con Gas Project in vietnam.
R S Sharma- MD & Chairman of ONGC
Sheikh Ahmed Abdulla- Kuwait oil minister
Murli Deora- Indian's petroleum minister

Apollo to Soon talk to Khazanah on Partnership
Apollo hospital is Asia's integrated healthcare company.
Prathap c Reddy-Apollo chairman.
Suneeta Reddy- Director Finance at Apollo hospital.

Consumer durables' Financing group after slowdown
Before three years consumar durable financing was 15 percent overall sales. It fell to 2-3 percent a year later because of exiting financial institutes such as ICICI, CITI and GE money.
Rajeev Jain- CEO of Bajaj finance
Rakesh Makkar- CEO of Future group
K sriram- Vice President of sales service and marketing Onida
According to Crisil Consumer durable is Rs. 25000 crore.
It is growing at 17-18 per cent per anum.
LCDs(liquid cristal display Tvs)and LEDs (light emitting diodeTVs )
has been close to 60 percent this year.
Ajit joshi MD and chief exicutive of Infiniti retail which runs Croma
stora, The Tata group's electronic and durable chain.
Bajaj is a leading company. It is providing finance for high end
products with the average size of a loan at Rs. 24000 crore.

Bharti shipard plans to sale as much as 15 percent equity to the country's largest shipping company, shipping corporation of India(SCI)
At present total market capital is Rs. 636 crore.
S Hajara- Chairman of SCI


Anup k Pujari- New director general of Foreign Trade
The asian development bank (ADB) raises the 2010 economic growth forecast for india to 8.5 percent.
Shashnak Manohar re- elected BCCI president
N Srinivasan r- elected chief secretary
There are two changes in the list of Vice president with former seceratry Niranjan shah and Rajya Sabha MP Rajiv Shukla have been appointed instead of chirayu Amin and former IPL chairman Lalit modi.