Reliance Comm revives tower unit IPO plans

According to latest business news Reliance Communications, India's No. 2 mobile operator, has revived IPO plans for its tower unit more than a year after it shelved a similar proposal amid a slump in equity markets worldwide.

Reliance Communications, which has 85 million subscribers and wants to reach 100 million by the end of the year, would also make a placement of shares to institutions at the appropriate time to cut debt, chairman Anil Ambani said at the annual meeting of shareholders. Read More...

SBI unlikely to raise rates for 6 months

As stated in Business News, State Bank of India, the country's top bank, is unlikely to raise lending rates in the next six months, its chairman said on Tuesday.

The bank has slashed lending rates by 200 basis points since October last year, but O. P. Bhatt has said interest rates were likely to harden in the second half as loan demand improves.

Read More: http://in.reuters.com/article/businessNews/idINIndia-41958120090825