Enthused over the allocation of Rs 1,300 crore in the Union Budget, Export-Import Bank of India is now planning to raise an additional Rs 13,000 crore in the next fiscal, a top official said on Thursday. Export-Import Bank of India Deputy Managing Director David Rasquinha said the bank was "soundly capitalised" and the capital adequacy ratio was around 15%.

During the Budget presentation made by Union Finance Minister Arun Jaitley last week, a sum of Rs 1,300 crore of capital has been earmarked for the EXIM Bank.

The government has proposed to amend the Reserve Bank of India (RBI) Act to take away money market regulatory powers from the central bank and bring it under the purview of the Securities and Exchange Board of India (Sebi).

Though the proposal wasn’t mentioned in Finance Minister Arun Jaitley’s Budget speech, the Finance Bill proposes to amend sections 45U and 45W of the RBI Act, which effectively takes away the central bank’s powers to regulate government securities and other money market instruments.

Hundreds of millions of Windows PC users are vulnerable to attacks exploiting the recently uncovered “Freak” security vulnerability, which was initially believed to only threaten mobile devices and Mac computers, Microsoft Corp warned.

News of the vulnerability surfaced on Tuesday when a group of nine security experts disclosed that ubiquitous Internet encryption technology could make devices running Apple Inc’s iOS and Mac operating systems, along with Google Inc’s Android browser vulnerable to cyberattacks.

Even as it closed February with a 12 per cent rate of growth, surpassing its monthly target, achieving the annual production target of 507 million tonne may remain elusive for Coal India Ltd (CIL), available indications show.

Enquiries revealed that CIL may just be able to scrape past the 490-million tonne mark by around a couple of million tonne. It closed 2013-14 with 462 million tonne and indications are that this year the figure may touch just 492 million tonne against the targeted 507 million tonne. The company, which has been tasked to raise 1,000 million tonne coal by 2020, has produced 436.9 million tonne between April and February 2014-15, against the targeted 450.1 million tonne.

Emerging markets’ output growth rose to a 5-month high in February, and manufacturing as well as services sector in India expanded at a faster pace than China during the month, an HSBC survey said today.

The HSBC Emerging Markets Index (EMI), a monthly indicator derived from Purchasing Managers’ Index surveys, rose to 51.9, from 51.2 in January, signalling fastest rate of expansion since last September, but still lagging the developed economies.

Rapping Jawaharlal Nehru Port Trust (JNPT) for continuing to reclaim land in violation of the Coastal Regulation Zone (CRZ) Notification, the National Green Tribunal (NGT) has ordered the City and Industrial Development Corporation(CIDCO), JNPT and Oil and Natural Gas Corporation Limited (ONGC) to pay Rs 95.19 crore to 1,630 fishermen families affected by JNPT’s project of creating an additional berth at the port in Navi Mumbai.

Top software exporter TCS has introduced a new platform which will increase the level of automation in underwriting for insurance business.

"The solution automates the ability to capture, analyse and make use of data in order to determine risk exposure and risk aggregation," the Tata group company said in a statement here.

Mumbai: GMR Infrastructure Ltd on Thursday said that its planned Rs.1,401.83 crore rights issue will run from 24 March to 8 April.

On 2 March, the company had said it will issue 934.5 million shares at Rs.15 apiece. Eligible shareholders will be offered three shares for every 14 they hold. The proceeds of the issue will be used for repaying debt. GMR had debt of over Rs.40,000 crore as on 30 September 2014.

Reliance Industries has restored the supply of gas in Sadasivapet, Telangana after the damage of a trunk pipeline and subsequent fire.

The company is now in the process of assessing the damage.

Sales of Tata Nano, billed to drive the company’s growth in the current decade, are set to plummet to a six-year low in the current financial year.

Sales of the car at 13,333 units till January this fiscal are less than a quarter of wholesale volumes of 53,848 units registered two years back and less than fifth of peak sales of 74,527 units seen in 2011-12.

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