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Sebi cracks whip on incomplete MF documentation
In a move to make the mutual fund (MF) industry more transparent, the Securities and Exchange Board of India (Sebi) today asked asset management companies (AMCs) to stop paying commissions to intermediaries, including banks and other distributors, who did not keep proper documents of their clients.

Govt for 20% stake sale in SAIL
The government today said it is considering a 20 per cent stake sale in steel major SAIL, proceeds of which would partly fund the company"s Rs 70,000-crore expansion projects.

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Nano vendors will shift to Sanand by March
Nearly 60 vendors will move to the vendor park at Tata Nano’s Sanand plant by March next year. The rollout of the car is set for the January to March quarter, and vendors will feed the plant at existing locations till they shift.
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India adds 15 mn new wireless users in Aug

A record addition of 15 million wireless telephone user in August has catapulted the total subscriber base in the country to 494.07 million, closer to the government"s 2012 target. Registering a record growth, 15.08 million new wireless subscribers (GSM, CDMA & FWP) were added in August taking the user base to 456.74 million, Trai said in a statement.


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