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Undisbursed loans may lead to rate war, even if RBI tightens
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients.

Revenue collection to fall short by Rs 15,000 cr: CBEC
The government"s revenue collection from central excise, service tax and customs is likely to fall short by Rs 15,000 crore from the target of Rs 2,68,000 crore set for the current fiscal due to continuation of the stimulus package, the Central Board of Excise and Customs (CBEC) said today.

News of the day

GMR Infra plans Rs 2,500 crore Vemagiri Power expansion
Vemagiri Power Generation Limited (VPGL), a subsidiary of Bangalore-based GMR Energy Limited, is planning to put up an additional capacity of 750 Mw in Vemagiri, adjacent to its existing natural gas-fired combined cycle power plant of 388.5 Mw.
Management

Funds for climate change missions in Union Budget: Saran

India"s eight ambitious missions to address climate change may get funds in the Union Budget that will be presented in Parliament next month. - Eco-friendly buildings: Gulf wakes up to "green" concept - Upsurge in action needed for environment: Pachauri - Nitin Desai: The 40:40:20 World">Nitin Desai: The 40:40:20 World - India to hold meeting of BASIC group partners - Acne what? - Anuradha R V: India and the road from Copenhagen">Anuradha R V: India and the road from Copenhagen "The ministries implementing the missions will be provided the necessary budget for it. We are tying up funds domestically," Prime Minister"s Special Envoy on Climate Change Shyam Saran said when asked whether there would be any allocation for the eight missions in the Union Budget. He said each of the missions would be discussed at the Planning Commission and will be incorporated in the Plan. "Government has taken a decision on implementing it. Of course, they will provide funds," Saran said. Prime Minister Manmohan Singh launched the National Solar Mission that aims to generate 20,000 MW solar power by 2022 recently. The mission is one of the eight announced as India"s National Action Plan on Climate Change (NAPCC). Besides solar mission, India plans to deal with global warming through achieving enhanced energy efficiency, promoting a sustainable habitat, efficient use of water, sustaining the Himalayan ecosystem, increasing forest cover, adapting to sustainable agriculture, and developing strategic knowledge on climate change.


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