RBI asks banks to scale down exposure to high-risk cyclical industries
The Reserve Bank of India wants banks to slash their exposures to sectors and industries which have been facing a slowdown, and especially those that are vulnerable to frequent changes in the business cycle.

IOC, ONGC axe plan to fuse Gujarat power projects
The Indian Oil Corporation (IOC) and the Oil and Natural Gas Corporation (ONGC) have decided to shelve their earlier plan of combining two power projects in Gujarat into one. The oil PSUs will now pursue each of these separately.

FIs weigh option of buying out Essar FRNs at discount
Essar Steel is believed to have approached the financial institutions, led by the IDBI, to buy out its $250 million floating rate note (FRN) from the secondary market.

CORPORATE
Oberoi group to set up Rs 20-crore health club with Lupin promoter
MYM Trade in tech tie-up with MCS

ECONOMY
Barucha committee picks AK Banerjee as CLB chairman
Ficci survey sees turnaround in six months

EXPRESSIONS
Investment pause
Is income from investments eligible for a tax-holiday?

MARKETS
Rupee recoups part losses, but market remains nervous
Bullish sentiment dominates castor futures

LEISURE
Following a trend, Ambience sells out
Calendar correction -- US holdouts switch dating style to match the world