News You Can Use

Citigroup Alerts Investors

Citigroup asks investors in India to remain alert to possible general elections, any time starting 2008. Citigroup says the UPA government may go for snap polls after announcing welfare schemes in the next budget. (News)

SBI Cards Under RTI Act

The Central Information Commission has ruled that SBI Cards is a public authority. It has also clarified that customers can seek any information about the entity under the Right to Information Act. SBI Cards is a joint venture of State Bank of India and GE. (News)

Essar Steel Fixes Delisting Price

Essar Group has said it planned to delist Essar Steel from the bourses and fixed a floor price of Rs. 38 per share for buying the stake from public shareholders. As per the offer, shareholders will have to place heir bids around the floor price, after which the company will decide on the exit price. (News)