Interest rate review

Mumbai, Feb. 18: Interest rates in the country are expected to decline further, a top banking official said today. “I do believe there is enough liquidity to take care of credit requirements, so there is a possibility for interest rates to soften,” Indian Banks’ Association chairman M.B.N. Rao said here.

RIL row

New Delhi, Feb. 18: Reliance Industries has accused the petroleum ministry of violating Parliament approved norms for oil and gas exploration in the country by proposing new guidelines that it said reduced operational flexibility.

IT growth

Mumbai, Feb. 18: The Indian IT industry was unlikely to witness a downturn but could see lengthening of sales cycles in the event of a slowdown in the US, a top official of Gartner said.

RBI move

Mumbai, Feb. 18: The Reserve Bank of India today proposed that with effect from April 1, all payment transactions of Rs 1 crore and above between RBI-regulated entities as well as in RBI regulated markets should be undertaken through electronic mode only.

Indiabulls

New Delhi, Feb. 18: The Indiabulls group has expanded into the aviation space with the launch of its non-scheduled chartered airline, Airmid Aviation Services, which has already started operations.