With the Indian basket of crude imports continuing to hover around $106 a barrel public sector oil companies have started losing around Rs 450 crore per day on the sales of diesel, kerosene and domestic LPG below market prices.

Now, you can report such scam offers to any of the 34 nodal agencies identified by the Reserve Bank of India (RBI).

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), shed 3.76 per cent or 633.37 points to close the week at 16,213.46 points.

While the EU fiscal deal reached on Friday may help save the euro, the political consequences of the rift with Britain could be enormous. It also remains to be seen whether the European Central Bank will take more aggressive action to buy the bonds of heavily indebted countries.

All European Union states except Britain moved toward setting up a new treaty on Friday, giving up crucial powers over their own budgets in an attempt to overcome a crippling debt crisis.

The 17 countries that use the euro, plus six of their European Union partners, agreed on Friday to an ambitious treaty tying their finances together in the hopes of solving Europe's debt crisis. At the same time, opposition led by Britain created a deep rift in the union.

In a breather for corporate executives embroiled in the 2G scam, the Supreme Court nod led to a spate of bail applications being accepted.

In the wake of corruption investigations, dysfunctional governance and a growing gulf between politicians and the people, the approaching assembly polls will circumscribe economic policy options.

The action in the wake of the Congressional debt committee's failure to find agreement reflects \"declining confidence that timely fiscal measures will be forthcoming\".

Subbarao had said the decision of the Cabinet allowing 51 per cent FDI in multi-brand retail would improve logistics, contain inflation and improve quality of life of over 50 per cent of country's population.

By pacing itself and keeping an eye on all aspects of its performance, Bank of Baroda has won the race.

India's economic situation today is reminiscent of late 2008 when Lehman Brothers collapsed. Inflation is high and the interest rate is being hiked to combat it. If you think this year is bad, wait till the next one comes around.

With the outlook for the global economy worsening, operating risks have become higher. Be alert, grab the hidden opportunities and cover your risks, advise top names from India Inc.

The BSE Sensex ended 315 points lower on Monday, led by losses in software exporters, after S&P downgrade of the US sovereign debt rating triggered another selloff in global markets. TRACK MARKETS LIVE

As the credit rating agency Standard & Poor's downgrades the US government's 'AAA' sovereign credit rating, India would experience couple of pain points. The dollar losing its fundamental strength would mean a stronger rupee that can widen deficit, affect investor flows and so would draw the regulator to continue its rate hiking action in order to curb both inflation and asset bubble.

Over 5% The expected fiscal deficit as a percentage of gross domestic product during 2011/12 as against 4.6 per cent estimated in the Budget

Equities that you should aim to have in your portfolio.

Iran continues to supply oil to India, though India has not paid it for months. No official word on how much Indiaowes Iran is available, butknowledgeable estimates put India'soutstanding for the past three months alone at over $4 billion or around Rs18,000 crore. What if Iran turns off the tap?

Finance Minister Pranab Mukherjee assured on Tuesday that duty cuts implemented while raising prices of diesel, kerosene and cooking gas in June would not impact India's fiscal deficit target.

The heavy tax burden borne by the consumers of petroleum products is reflected in the fact that they contribute to more than 40 per cent of the Central government's excise collections and over one-third of the total revenue of state governments.