SBI revises PLR, MTLR rates
The SBI has announced an upward revision in its Prime Lending Rate, Medium Term Lending Rate and deposits rates across the board with effect from today. The PLR has been increased by 75 basis points to 12 percent while the MTLR has been revised by 50 basis points also to 12 per cent, according to a decision taken by the bank's asset liability management committee. Deposits across the board have been raised by 50 basis points.

Industrial growth slips to 5.4% in Q1
After an impressive performance in 1999-2000, industrial growth slowed down in the first quarter of the current fiscal. The index of industrial production grew by 5.4 per cent, as compared to 5.7 per cent in April-June 1999.

Centre clears FDI worth Rs 952 crore
The government has allowed proposals of Qatar-based Ras Laffan LNG Company to pick up 10 per cent stake in Petronet LNG for Rs 430 crore and private sector Vysya Bank to offer up to 30 per cent equity to foreign partners. These were among Rs 952 crore foreign direct investment proposals cleared on the recommendations of Foreign Investment Promotion Board.

Air India accepts bids
Air India has accepted the bids of Airbus Industries and Singapore Airlines and would hold discussions for dry leasing of four to five A-310 aircraft. AI had recieved four bids for 10 A-310s and the board did not clear the proposal for a waiver on two 12 year-old aircraft.

7 banned drugs allowed in India
Seven drugs including Analgin, which are on WHO ban list, have been allowed to be marketed in the country, minister of state for chemicals and fertilisers Ramesh Bais said. The Minister said in Rajya Sabha that the drugs have been permitted to be marketed after consulting experts and subject to a cautionary statement.

Exide lines up Rs 200cr investment
Exide Industries has drawn up an investment plan of close to Rs 200 crore for the next three years as part of an expansion drive at home and abroad. It is scouting for a partner in Bangladesh to set up an automotive battery manufacturing unit.

Britannia seeks franchisees
Britannia Industries Ltd plans to introduce brown bread in the Indian market and is looking for franchisees in the metropolitan cities, managing director Sunil K Alagh said. The company will also launch a whole new range of biscuits by October this year.

NHAI to issue bonds worth Rs 500cr
National Highways Authority of India will issue bonds worth Rs 500 crore in September this year as part of its effort to raise funds from the market to finance its National Highway Development Project. The bonds to be issued in September will be the first in the series.

IDFC, Rabobank form alliancee
IDFC and Rabobank International have signed a strategic co-operation pact for providing solutions to develop the food and agriculture backbone in the country. The initiative plans to deliver advisory services and financial assistance to projects for developing integrated transport/logistics, dedicated agri-ports, warehousing, commodity exchanges, value added centers and establishment of cold chain networks.