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World Bank team set to review aided projects in state
A high-level team headed by World Bank (WB) managing director (operations) Caio Koch-Weser will pay a two-day visit to Mumbai from April 8 to review the ongoing WB-assisted projects in Maharashtra. Weser will be accompanied by RS Sharma, director, ministry of economic affairs, Govind Rajan, additional secretary, ministry of economic affairs and Edwin Lim, country director, India.
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M&A boom puts rating agencies in a spot
Crisil, Icra, CARE and Duff & Phelps. The Indian rating agencies are in a tizzy following the merger-and-acquisition (M&A) explosion which has rocked the Indian financial markets with their rating calculations threatened by overnight balance-sheet transformations. With no clue on whether borrowed funds may be splurged on asset acquisitions or whether management profiles will overnight be drastically changed, the agencies are groping for answers that creditors and bond investors desperately want.
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Reserve Bank pegs coupon of 5-year paper at 11.10%
In tune with market expectations, the Reserve Bank of India yesterday fixed the coupon of the Rs 4,000 crore five-year government paper at 11.10%. The central bank received a record 285 bids worth Rs 6617.50 crore and made partial allotments to 190 bidders.
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Tariff commission to examine duty structure
The Government has requested the Tariff Commission to study the tariff structure on some of the imported commodities on which quantitative restrictions are lifted after the balance of payments position eases. The exercise is intended to provide a measure of protection to the domestic industry.
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