This could possibly be the best Christmas gift from the Reserve Bank of India to bank customers. The central bank has proposed to allow customers of one bank to withdraw cash from ATMs of other banks free of charge from April 2009.
In a draft paper on pricing and access to ATMs, RBI said that current [...]

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The Tatas who run the Taj group of hotels have sought an apology from the international hotel chain Orient Express.
Orient had recently rebuffed a move by the Tatas to further a strategic alliance after the Tatas picked up 11.5 per cent equity in the company.
Orient had indicated that the tie up would hurt Orient’s premium [...]

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The Bombay Stock Exchange benchmark index Sensex plunged 769 points or 3.84 per cent on renewed concerns of rising inflation in the US might make it difficult for the Federal Reserve to make another rate cut.
The 30-share index moved in a range of 19,177 to 20,032 levels before ending the trading day at 19,261. Selling [...]

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The government and industry have expressed resentment over the way US luxury hotel chain Orient Express spurned Tatas’ offer for a strategic tie-up, stating Indian firms with global ambitions should not be discriminated against.
“There cannot be any discrimination against outward investment from India,” Commerce and Industry Minister Kamal Nath said. He said in an era [...]

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Amid ongoing fight over spectrum allocation norms, Prime Minister Manmohan Singh said it should be allocated in a “transparent and equitable” manner so that it does not create barriers for new players.
He also emphasised that revenue potential to the government must also be kept in mind while making a policy which would enable the continued [...]

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Citigroup Inc. named Vikram Pandit, the head of its investment banking business, as chief executive after searching five weeks for someone to restore the bank’s profitability and reputation.
The banking company also on Tuesday named Sir Win Bischoff, who has been Citi’s acting CEO, as its chairman. He replaces Robert E. Rubin, who had stepped into [...]

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