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Morning News Round-up:

Ø  No relevance between CRR & cheaper loans: Rajan

Ø  Government forms panel for Sebi-FMC merger

Ø  SBI, HDFC Bank & ICICI Bank take lead in cutting base lending rates

Ø  REC stake sale tomorrow; floor price at Rs 315/share

Ø  S&P downgrades Vedanta Resources Rating to ‘BB-‘

Ø  RBI allows cos to sell rupee-denominated bonds in overseas markets

Ø  Demand notices on FIIS not retrospective, says government

Ø  Solar power cost to come down to Rs 4.50/unit by Dec

Ø  Rajan holds rate; banks bow to RBI pressure

Ø  Cabinet clears Bill to regulate real estate

Ø  Govt may wind up BRPSE, constitute new entity for sick PSUs

Ø  CCEA nod to over Rs 4K cr foreign investment in 2 pharma cos

Ø  RIL’s MJ-1 discovery may hold 1.4 Tcf of gas resources

Ø  10 year old diesel vehicles and 15 year old petrol vehicles banned in NCR by green tribunal

Ø  Sebi wants exchanges, others to have robust cyber security net

Ø  Rural BPOs may get up to 50% subsidy

Ø  HC rejects Chinese consortium’s plea; upholds contract to BHEL

Ø  Dr Reddy’s files new drug application with USFDA

Ø  US Fed’s moves won’t have much impact on policy stance: Rajan

Ø  Govt invites foreign pension funds to pump in finance in infra sector

Ø  Centre open to relaxing quality norms for procuring rain-hit wheat

Ø  Essar Power generates 23% more electricity at Salaya plant

Ø  CCEA approves highway projects worth Rs9,500 crore

Ø  RBI eases lending norms for micro-finance companies

Ø  Govt hikes DA by 6% for its employees, pensioners

Ø  Adani defends Queensland mine project in Australian court

Ø  HCC launches QIP issue to raise about Rs400 crore

Ø  Vodafone’s $4 billion tab for airwaves endangers ratings

Ø  Halliburton, Baker Hughes pull out of OVL’s Russian oil, gas fields

Ø  RBI policy fails to cheer markets; Sensex ends flat

Ø  Investors tap long-term debt funds on rate cut hopes

Ø  Supreme Court rejects Kingfisher’s plea challenging Rs 372 cr TDS demand by I-T

Ø  SpiceJet to wet lease three Boeing 737 aircraft

Ø  RBI pins hope on normal monsoon; expects inflation at 4% by August

Ø  No Rafale sale announcement before Modi’s visit to France: Hollande

Ø  Suzuki to focus on niche bikes, eyes 5L sales in India in FY16

Ø  BSE to shift 41 cos to restricted trade; NSE to move 8

Ø  Wheat production likely to decline by 4-5%: Agri min

Ø  Canada sells its multibillion-dollar stake in General Motors
CLSA on Cement

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