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Contrasting fortunes
UK banks: Nine months is a long time in UK banking. When Royal Bank of Scotland and Lloyds Banking Group signed up for state insurance on a combined £585 billion of their suspect loans in February, each was assumed to be a basket case. Now the full details of the insurance scheme and enforced state aid disposals are public, it"s clear that RBS is in the worse shape. Both banks are trying to wriggle out of the state’s embrace, but RBS hasn’t got very far. Lloyds, in contrast, is well on the way to independence.

Random thoughts on Telangana
Google Telangana and you are likely to find more books on the communist-inspired “struggle” of the 1940s and 1950s than the “separatist” agitation of 1969-70 or the one in progress. While there is no link at all between the “struggle” and the “agitations”, it is becoming increasingly clear that Telangana’s Maoists hope to climb on the separatist bandwagon to further their own cause. So, it is not surprising that both M Bharath Bhushan and N Venugopal — editors of this slim and eclectic collection of essays on various facets of Telangana life, culture, politics and economics — labour hard to link the two and, in the process, denounce the mainstream separatist leadership.

News of the day

APIIC to set up biotech SEZs in Anantapur, Kadapa and Hyd
Andhra Pradesh Industrial Infrastructure Corporation (APIIC) would develop a biotech special economic zone (SEZ) at the Industrial Growth Centre in Hindupar in Anantapur district of the state. The SEZ would come up in 70 acre and would be developed by Benguluru-based Salarpuria.
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UBI likely to float IPO by early February

United Bank of India (UBI) is likely to file a red herring prospectus with the Securities and Exchange Board of India for their initial public offer (IPO) next week, Chairman Satish C Gupta has said. “We hope to come out with the IPO by end January or early February,” Gupta said. - Sebi cracks whip on incomplete MF documentation - MF distributors" nod not a must for shifting investments, says Sebi - Corporate entities, HNIs also get ASBA facility - Sebi extends ASBA facility to corporates, HNIs - Sebi cracks the whip on Barclays - Overseas investors buy Rs 994 crore of stocks The bank aims to mop up up to Rs 400 crore through the public issue, which will bring down the government’s stake in the bank to around 84 per cent. The bank is currently fully owned by the government.


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