Tamil Nadu to deploy sales tax proceeds mopup for novel escrow facility
The Tamil Nadu government will earmark a portion of its sales tax revenues to provide an escrow-like facility to power producers in the state so that the absence of a regular escrow account does not hamper their ability to raise finance.

RBI panel proposes trust to execute securitisation deals
A Reserve Bank of India (RBI) working group on debt markets has proposed the execution of securitisation deals through a trust to avoid the high stamp duty involved in such deals.

TNEB to accord escrow cover for Reliance Jayamkondam plan
Reliance Industries, which has received a letter of intent from Tamil Nadu Industrial Development Corporation (Tidco) for establishing a lignite-based Jayamkondam power project in phases, is to be accorded an escrow cover by the Tamil Nadu Electricity Board (TNEB).

CORPORATE
Bayer plans further investment in Baytown
Aiwa strikes out-of-court settlement with distributor

ECONOMY
EU hauls Delhi to WTO over car parts imports policy
Chamber moots state-wise infrastructure development mechanism

EXPRESSIONS
US fears over N-tests are justified
No cause for cheer

MARKETS
Investors throng UTI branches to redeem US-64
Banks get a bear-hug; SBI hits 34-month low on BSE

LEISURE
McDonald's sees big fast food appetite
Anthropology is a good career option