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AP seeks Rs 10,000 cr for drought relief
The Andhra Pradesh government has decided to seek Rs 10,000 crore from the Centre to undertake drought relief measures in the state. A memorandum will be submitted to the Union government shortly. A decision to this effect was taken at a review meeting held by chief minister, K Rosaiah, on Sunday.

Financial city to initially attract banking, insurance
The Tamil Nadu government"s proposed Financial City, aimed at wooing private financial players, is expected to come up on 180-acres at suburban Sholinganallur and Perumbakkam and would initially attract companies involved in banking and insurance accounting operations, Deputy Chief Minister M K Stalin said today.

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RPDAC meet on Posco project mired in uncertainty
Uncertainty looms large over the holding of the meeting of the Rehabilitation and Peripheral Development Advisory Committee (RPDAC) for the Posco’s mega steel project in Orissa as the government is likely to miss the November time line for this meeting.
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IDBI Bank announces repayment of 11.5% SLR bonds

IDBI Bank today announced the repayment of its 11.5 per cent SLR bonds, 2009 on September 26, 2009. - IDBI Bank aims to enhance base in SME, retail sectors - ICICI, IDBI make car loans cheaper - IDBI lowers interest rates on deposit, auto loans - Govt sidesteps WB on PSB stake - State Bank of India, LIC invest in Reliance Private Equity - IDBI Bank extends losses, ends down 5% No interest will accrue on the bonds after September 25,2009 and the book closure of the 54th series will be observed with effect from August 26,2009, a bank press release said. Investors holding the bonds in the form of promissory notes may tender the bonds at the concerned branch before September 7,2009, the release said. Investors, having investment in the form of Entry-in-Account with IDBI Bank should furnish a receipt in the prescribed form along with the relevant certificate of holding, it said. For investors holding bonds in demat form, the bonds will automatically be debited and the redemption proceeds will be submitted to them, the release said.


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