Wholesale inflation up at 3.39% in Dec

New Delhi: The rise in prices of petrol and diesel stoked wholesale inflation to 3.39% in December 2016, reversing the declining trend and stemming the impact of softening prices of vegetables. The wholesale price index-based inflation stood at 3.15% in November. Petrol and diesel prices were hiked twice and once, respectively, in December after international crude oil prices saw a surge since OPEC reached an agreement to cut output. Aditi Nayar, Principal Economist, ICRA Ltd, said the pickup in WPI inflation to 3.4% in December 2016 from 3.2% in November 2016 reflects a combination of rising commodity prices and an unfavorable base effect. tns

Airtel boosts network in Delhi-NCR region

New Delhi:  As part of its ongoing network nationwide transformation initiative – Project Leap, Airtel on Monday rolled out an upgraded mobile network in Delhi-NCR. It has deployed state-of-the-art ‘Dual Carrier’ technology to combine the spectrum capacities of two 5MHz carriers in the 2100 MHz band. Airtel is the first mobile operator to deploy ‘Dual Carrier’ technology in Delhi-NCR. ‘Dual Carrier’ technology significantly boosts network capacity through highly efficient usage, and delivers a superior mobile experience in the form of faster data speeds, better voice quality, and improved network coverage – indoors and outdoors. TNS

No data on scams in co-op banks: RTI 

Mumbai: The RBI has admitted that it has no details of any irregularities or scams in the exchange of the demonetised currency notes of Rs 500 and Rs 1,000 by the cooperative banks, a reply under RTI revealed on Monday. RTI activist Anil Galgali had sought information on the extent of irregularities committed by state cooperative banks post-note ban. “However, according to its reply under the RTI, the RBI does not seem to have any data to justify its conclusion of widespread irregularities and scandals in exchanging the old currency notes vide state and district cooperatives banks across the country,” Galgali said, showing the terse RBI communication. IANS

NCLT reserves order on plea of Mistry cos 

Mumbai: The National Company Law Tribunal (NCLT) on Monday reserved its order till January 18 on a contempt petition filed by two Cyrus Mistry family companies against Tata Sons and its directors, including Ratan Tata, alleging violation of NCLT directives in taking steps to remove Mistry from the Board. The judgment would be delivered on January 18. Cyrus Investments Ltd and Sterling Investment had filed a contempt petition seeking injunction against Tata Sons barring from “convening or holding of the EGM scheduled for February 6, 2017 or any other date or from transacting any business thereat.” PTI