NEW DELHI: The inflation rate dropped sharply to a record two-decade low of 2.03 per cent for the week ended June 26 as prices of food articles and primary commodities continued to decline. The inflation rate has not gone below 2.03 per cent since 1980, the year government started monitoring inflation record on weekly basis.

Plea against BIFR

MUMBAI: Canara Bank will appeal before the Appellate Authority of Industrial and Financial Reconstruction against the July 9 BIFR order which declared Amitabh Bachchan Corporation Ltd (ABCL) a sick company.

Kelkar in IMF

NEW DELHI: Union Finance secretary Dr Vijay Kelkar has been elected executive director of International Monetary Fund representing India, Bangladesh, Bhutan and Sri Lanka. Kelkar replaces India's M R Shivaraman, who will be completing his term on July 31.