Never the one to mince words, Bajaj Auto managing director Rajiv Bajaj hit out at the government for over-regulation that he said was killing the industry. Wadia Group chairman Nusli Wadia has distanced himself from the dispute between Ratan Tata and Cyrus Mistry. Wholesale Price Index (WPI) inflation has risen to 2.59 per cent in December from 0.58% in November. Read for more top stories from the world of business and economy:
Bajaj said the increase in price of a two wheeler by almost 30 percent in the last 18 months was a big reason for the current slowdown and added that he did not expect the upcoming budget will be able to solve the problems.
The dispute initially was the unceremonious removal of Mistry from the chairmanship of Tata. Wadia, who was on the boards of major Tata group companies, found it shocking and against the corporate governance standards.
Michael Debabrata Patra appointed RBI Deputy Governor: He is currently the Executive Director of the Monetary Policy Department.
WPI inflation increases: Onions, which saw prices peak in December, observed an inflation rate of 455.8 per cent against 172.3 per cent in November.
Wipro announces an interim dividend of Rs 1 per equity share of par value Rs 2 each; expects revenue from IT services business to be in the range of $2,095 million to $2,137 million.