Briefly Business: FinMin bats for cap on gas price hike

Ministry said a ceiling on the gas price is necessary to protect the interests of government/consumers.

New Delhi: The finance ministry has pitched for a limit to which natural gas rates can be increased following a new pricing formula that will come into effect from April 1. The ministry said a ceiling on the gas price is necessary to protect the interests of government/consumers in case of an unreasonable upswing in the prices,sources said.

Losses on diesel climb to R10.48 a litre

NEW DELHI: Losses on diesel sales have climbed to Rs 10.48 per litre after global rates inched up,the oil ministry said today.

IOB to raise R350 cr through QIP

NEW DELHI: Indian Overseas Bank (IOB) has said its board has okayed raising of Rs 350 crore through Qualified Institutional Placement (QIP).

IIB to maintain health insurance grid

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Hyderabad: Insurance Information Bureau (IIB),an independent body created by the Insurance Regulatory and Development Authority (Irda),would be maintaining a health insurance grid connecting TPAs,insurers and hospitals,TS Vijayan,chairman,Irda,said.

Rs4,800 cr refund claims pending: Exporters

NEW DELHI: The Federation of Indian Export Organisations on Monday claimed that duty refunds worth over Rs 4,800 crore are pending in over 100 major ports of the country. If the claims are not cleared by the customs authorities,India may not be able to achieve the desired growth in exports, Fieo said.

Karnataka HC rejects UBHLs appeal

Bangalore: Karnataka High Court dismissed an appeal filed by United Breweries Holdings against the winding up petition by BNP Paribas.