Says they can’t lend liquidity adjustment facility funds in overnight money market. Banks have come under fire from the Reserve Bank of India (RBI) for lending funds borrowed under the liquidity adjustment facility (LAF) in the overnight money market. LAF funds are meant to meet banks�…

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French military jet opens fire in Libya A French plane has fired the first shots in Libya as enforcement of the UN-mandated no-fly zone begins. The target was a military vehicle, the French defence ministry said. It came hours after Western and Arab leaders met in Paris to agree a cours…

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Engineers at Japan’s stricken Fukushima nuclear power plant have successfully connected a power line to reactor 2, the UN’s nuclear watchdog reports. Restoring power should enable engineers to restart the pumps which send coolant over the reactor. Workers at Fukushima have b…

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New Delhi: The WikiLeaks India cables have produced some more explosive details. The latest one is on the controversial voting on the 2008 Indo-US civil nuclear deal. WikiLeaks says five days before the first United Progressive Alliance (UPA) government of Manmohan Singh faced a crucial …

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Japan’s nuclear crisis appeared to be spinning out of control after workers withdrew briefly from a stricken power plant because of surging radiation levels and a helicopter failed to drop water on the most troubled reactor. In a sign of desperation, police will try to cool spent n…

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Boosted by incentives announced by the Ministry of New and Renewable Energy (MNRE), car maker Mahindra Reva Electric Vehicle (MREV) has recorded a three-fold rise in average monthly sales in the last three months. “Following the 20 per cent subsidy announced by MNRE, average monthly sa…

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Japan’s nuclear crisis escalated today as two more blasts and a fire rocked a quake-stricken atomic power plant, sending radiation up to dangerous levels. Radiation around the Fukushima No.1 plant on the eastern coast had “risen considerably”, Prime Minister Naoto Kan s…

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Japan’s Prime Minister said the danger of further radiation leaks from a crippled nuclear power station is rising after three explosions and a fire at the site 135 miles north of Tokyo. Naoto Kan appealed for calm in a televised address, saying his government was doing its utmost to co…

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Deal values Reliance Capital’s life insurance arm at Rs 11,500 cr. Reliance Capital has agreed to sell a 26 per cent stake in its life insurance arm to Japan’s Nippon Life Insurance for Rs 3,062 crore. The deal, the largest foreign direct investment (FDI) in the country’s insurance…

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Japan has awoken to devastation along its northeastern coast, with fires raging in many cities, parts of others still underwater and serious concerns about two nuclear reactors in the worst hit area. At least 1,000 people are known to have died in the massive 8.9 magnitude earthquake the…

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