Briefly Business: Gold import bill drops sharply by Rs29,900 crore

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SummaryMulti Commodity Exchange (MCX) has called a meeting of its board on December 26 to decide on FMC’s order.

New Delhi: The value of India’s gold imports in November fell by over Rs 29,900 crore, or 84 per cent, from the level in January after steps taken by the government to curb inward shipments of the metal. About 21,281 kgs of gold valued at Rs 5,619.66 crore was brought into the country last month, according to data provided by the finance ministry. PTI

MCX board meet on Dec 26 to discuss FTIL stake

New Delhi: A day after the Forward Markets Commission said that Jignesh Shah and his firm FTIL are not ‘fit and proper’ to run any exchange in the country, Multi Commodity Exchange (MCX) has called a meeting of its board on December 26 to decide on FMC’s order. PTI

Not eligible for bank licence, says IDFC

New Delhi: Infrastructure financing firm IDFC, which has applied to RBI for a bank licence, on Thursday said it is not eligible to obtain one as foreign shareholding in the institution exceeds the permissible limit of 50 per cent and is working to meet the norms. PTI

Payments Council of India to form SRO

New Delhi: The Payments Council of India (PCI) has said it is creating a self regulatory organisation (SRO) for all non-bank payment service providers. ENS

Aakash 4 production to start in Jan: Sibal

New Delhi: The next version of world’s cheapest tablet PC Aakash 4 will start in January and the price of the devices are expected to further come down by Rs 1,000 to Rs 1,500 in a year, telecom minister Kapil Sibal said on Thursday. PTI

GMR to run Male airport if govt invites

Hyderabad: The GMR group, embroiled in a legal tussle with the Maldivian government over the Male airport, has said it is willing to run the facility provided the company is invited by that country. “If government asks us to run the airport, we will run,” said, GMR chairman, GM Rao. pti

Zuckerberg to sell $2.31 bn FB shares

New York: Facebook on Thursday said its founder Mark Zuckerberg will sell about 41.4 million ‘Class A’ shares of the company to raise about $2.31 billion. Reuters

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