-PTI Employees of public sector banks have gone on two-day nationwide strike today opposing banking sector reforms and outsourcing of non-core activities, affecting operations. Several private sector banks, foreign banks and ATMs, however, continued to operate normally. The strike call was given by the United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions of employees and officers of PSU banks. They are protesting against banking sector reforms and unilateral implementation of...

-The Economic Times The Research and Analysis Wing (RAW), India's overseas intelligence agency, has told the Central Bureau of Investigation and the Enforcement Directorate that it has unearthed hawala transactions allegedly linked to former telecom minister A Raja.  RAW has written to the investigative agencies - the communication was sent at the end of July - asking them to take "necessary action", a top government official told ET on condition of anonymity.  The...

-PTI Amid growing political opposition in India for easing of foreign investment norms in retail and other sectors, US-based companies like Wal-Mart and Prudential Financial are lobbying hard with their own lawmakers here to garner support for their Indian business expansion plans. As per their latest lobbying disclosure reports filed with the House of Representatives and the Senate, the US-based companies and industry groups spent millions of dollars since the beginning of...

-Live Mint Natco Pharma Ltd, which has started selling a generic version of Bayer AG’s patented cancer treatment Nexavar in India at a fraction of the price charged by the German firm, plans to use the so-called compulsory licensing route to try and win the right to copy more patented drugs, said vice-chairman and chief executive officer Rajeev Nannapaneni. The Hyderabad-based company has already identified the patented drugs for which it will...

-The Times of India A day after US President Barack Obama's call for lifting of foreign investment curbs by India, the government on Monday shot back asking Washington not to meddle with the country's internal affairs and suggested that the world's largest economy should lead the fight against protectionism. The statement came amid protests from the Opposition, which asked the government not succumb to US pressure. "He (Obama) has every right to...