-PTI A blanket ban on manufacture, sale, storage and use of plastic bags with stiff penalty against violators including imprisonment up to five years will come into effect in New Delhi on Friday. The government has now imposed the ban as per provision of the Environment (Protection) Act, 1986, under which violators could face imprisonment up to five years and fine of up to Rs. 1 lakh or both. "The ban on plastic...

-The Telegraph The Union cabinet today approved a controversial drug pricing policy that had been opposed by the health ministry, the finance ministry and public health policy experts who fear it will legitimise high prices of medicines. A government source said the cabinet has cleared the drug pricing policy that health experts suspect will determine caps on prices of 348 drugs through a formula based on market prices of drugs rather than...

-Outlook Kochi: Reserve Bank Governor D Subbarao today ruled out introduction of Islamic banking in the country but said other methods for channelising funds based on the principles of Islamic law can be looked at. "Islamic banking is not possible", he said, adding the central bank could look at other vehicles based on Islamic banking principles to channelise NRI funds. Replying to a question on the issue, Subbarao said: "There are some legal...

-Live Mint Flexible labour laws in India cannot solve the problem of weak job growth and the poor quality of employment  The theme of the World Bank’s World Development Report this year is, appropriately enough, jobs. The report recognizes that creating jobs is the surest way of reducing inequality and poverty, particularly in the developing world. But the cliché it offers as a solution is disappointing: relax labour laws. The bank has...

-The Economic Times Shares of Maruti Suzuki India slipped over 2 per cent in trade on Tuesday after reports indicated that the workers at the Manesar plant are planning a hunger strike and other peaceful protests to force the company management to reinstate the 548 employees who were sacked after July's violence. At 01:20 pm, Maruti Suzuki recovered marginally and was trading 1.8 per cent lower at Rs 1453.25. It has hit...