FREE SECTORS REPORT: 10.08.2012

[rupeedesk]

FREE SECTORS REPORT: 10.08.2012

* AGRICULTURE: Parliament's standing committee on agriculture has asked for an end to all field trials of genetically modified crops.

* AVIATION: Air India 's cabin crew may challenge in court a new regulator order that seeks to impose stricter health standards for flight attendants.

* BANKING: Finance ministry is finalising a new policy that will provide a fixed five-year term for public sector bank heads. The current account deposit base of large banks narrowed in Apr-Jun.

* DEFENCE: Ministry of Defence has begun setting up a department that will monitor and audit some 83 bln rupees worth of offset contracts per year that must be discharged by foreign vendors who sell arms to India .

* ECONOMY: Finance Minister P. Chidambaram has expressed disappointment over the sharp contraction in June industrial output and said it was important to focus on critical sectors and on removing supply-side bottlenecks.

* MEDIA: BBC Worldwide India and Multi-Screen Media are finalising a mega alliance involving distribution and sales.

* MINING: Essar Minerals, a unit of Essar Energy, has been given until Aug 17 to respond to and contest a lawsuit before a US court that alleges its surface mining activities in Kentucky have chocked local water streams.

* TELECOM: Norway 's Telenor will approach a higher court against the Company Law Board's order barring its Indian arm Uninor from auctioning its assets. Telecom Regulatory Authority of India has asked the Department of Telecommunications to amend the law and give the former powers to penalise and enforce rules in the industry.

By RUPEE DESK

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