Mauritius group to set up trustee firm with IDBI
Principal Financial Group of Mauritius is setting up a trustee company along with IDBI which will act as a trust to the IDBI Mutual Fund. Both Principal Financial Group (Mauritius) Ltd and IDBI will hold 50 per cent each in the trustee company.

Call money rates to hover around 8.5 per cent
Call rates stayed close to the 8 per cent bank rate through last week. The first step of CRR hike (about Rs 1,900 cr) and refinance reduction (about Rs 2,250 crore) came into effect on Saturday. However, call money rates were near 8.25 per cent.

Rural development ministry seeks audit of local bodies accounts
Union ministry of rural development, following the recommendations of the 11th Finance Commission, has decided to write to the state ministers for panchayati raj institutions (PRIs) to enforce auditing of accounts of local bodies under the supervision of C&AG.


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