ECB norms relaxed further
The Centre has relaxed guidelines for external commercial borrowings by reducing the period for reapplication to one month from three months with immediate effect and gave a month's fresh lease of life to applications lapsed before July 1. It has also withdrawn the existing facility available to corporates of pre-payment to an extent of 20% in the company's outstanding balance.

Dilution of sanctions props up rupee
The US Senate's proposal to lift agricultural sanctions imposed on India propped up the rupee on Friday to a intra-day high of 42.44 against the dollar - a 16 paise gain over the previous day's close. The forward premium on dollar softened considerably with the six-month annualised forward premium falling by 75 basis points over Thursday's level to close at 8.72%.

House panel asks FM to mend "Samadhan"
The standing committee on finance has urged the Union finance ministry to re-examine the "kar vivad samadhan" scheme without delay as it has been found to be discriminatory against tax payers who have no arrears. The panel has asked the Union finance ministry to consult the Union law ministry to remove some basic flaws in the scheme under which an assessee can make a declaration only if taxes were in arrears.

  FM hints at tax sops for core sector
  Sensex rises by 70 points
  NCAER sees 5.5% GDP growth
  New margins help speculators
  Crisil rates Wealth Agro scheme risky
  GSOL told to refund issue
  RBI hikes coupon on T-bills
  HDFC quarterly profits rise 19%