Core growth at 9.9%

New Delhi, Nov. 3: A rebound in crude oil output and power generation propelled overall infrastructure growth to 9.9 per cent in September compared with 6.3 per cent a year ago. Cumulatively, the six core industries — crude oil, petroleum refinery products, coal, electricity, cement and steel — registered a 7.3 per cent growth in the April-September period against 6.1 per cent in the corresponding period of the previous fiscal.

Budget talks

New Delhi, Nov. 3: The finance ministry will begin consultations for the next year’s budget on November 8, now that the new bureaucratic team led by finance secretary Ashok Jha is in place.

RBI norms

Mumbai, Nov. 3: The Reserve Bank of India (RBI) today said the recovery agents of banks should not use threats to recover dues and the service provider should ensure customer data secrecy even after its contract with the bank ends. This comes as a major relief to loan customers.

ONGC move

New Delhi, Nov. 3: The Oil and Natural Gas Corporation (ONGC) is roping in the Hinduja group to acquire oilfields abroad and source liquefied natural gas.

McLeod

Calcutta, Nov. 3: McLeod Russel has raised Rs 118 crore through a placement with qualified institutional buyers (QIBs) who paid Rs 125 a share with a face value of Rs 5. The fund was raised to retire debt that the company took to finance its acquisitions last year.