Govt
slaps Rs 2,500 crore penalty on Reliance Industries
i. Govt has slapped an penalty of USD 380 million on Reliance
Industries and its partners for producing less than targeted natural gas from
KG-D6 fields.
ii. The total penalty for missing the target in 5 fiscal years
beginning April 1, 2010, now stands at USD 2.76 billion.
Federal Bank starts distributing MMTC gold
coins
i. Federal Bank has become the first private sector bank to
start distributing gold coins made by government-controlled Metals and
Minerals Trading Corporation of India (MMTCI).
ii. The Indian gold coins are of 24 karat purity, 999 fineness
and has the National Emblem of Ashok Chakra engraved on one side and the face
of Mahatma Gandhi as in currency notes on the other.