Briefly Business: Cancel 8 coal mines to PSUs, says IMG

Cancel 8 coal mines to PSUs, says IMG

New Delhi: Stepping up action against erring PSUs which failed to develop coal mines, the Inter-Ministerial panel on coal blocks has recommended de-allocation of eight such blocks after scrutiny of 19 cases. The panel, whose earlier recommendation for de-allocation of 13 mines to private firms has already been accepted by the government, has also asked for imposition of bank guarantee in six cases and deduction in two cases.

OilMin wants roster for KG-D6 supply

NEW DELHi: With Reliance Industries' KG-D6 gas field output dipping sharply, the oil ministry has proposed to roster supplies to power plants to ensure better availability of the fuel.

Bank of India gets new CMD

Mumbai: VR Iyer has taken charge as the chairperson and managing director of Bank of India. Iyer, who began her career with Union Bank of India in December 1975 became Executive Director of Central Bank of India in September 2010.

NTPC executives plan 32-hour stir

NEW DELHi: The NTPC Executives' Federation of India (NEFI), a representative body of over 12,000 officers of state-owned power major NTPC Ltd, plans to lodge its protest against issues related to pension and allowances by continuously working for 32 hours on November 8.

CNG, diesel variants of Nano on the anvil

Mumbai: Tata Motors on Wednesday said its plan to roll out the CNG and diesel variants of Nano is on track.

Hinduja to buy US lubricant firm for $1 bn

Mumbai: Hinduja-owned Gulf Oil Corporation Limited is acquiring 100 per cent stake in US-based speciality chemical fluid firm Houghton International Inc for $1.04 billion.

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