Essar Group plans to invest over Rs 2,000 crore to set up a new cement and Ferro-alloy unit in Madhya Pradesh, having already committed Rs 8,000 crore in investments in the state across sectors like steel, power and telecom. State Bank of India may lower its loan growth target to 18% for the fiscal year from a previous target of 20% due to slower than expected credit growth in the first half. ICICI Bank launched an instant cross-border money transfer option called I-Express for non-resident Indians to transfer funds to beneficiary accounts in India through select partners in Gulf countries.

2.  Diversified conglomerate Essar Group has firmed up plans to invest over
Rs 2,000 crore to set up a new cement and Ferro-alloy unit in Madhya
Pradesh as part of its mega-investment programme in the state.
 The group, which has already committed investments worth around Rs
8,000 crore in the state across sectors like steel, power and telecom had
last week entered into a pact with the Madhya Pradesh government for a
cement and Ferro-alloys project.

3.  Stung by slow credit off take in the first half, State Bank of India (SBI) may
revise its loan growth and bring it down to 18 per cent for this fiscal.
 It would be 18 per cent from 20 per cent for the current fiscal
 On an annual basis, the credit growth of SBI has been 19 per cent in 2010-11.
 As per the RBI data, the total outstanding credit of the banking system has
gone up just 5.6 per cent to Rs 34,22,291 crore since the beginning of this
financial year.

4.  ICICI Bank has announced the launch of I-Express (the option of visiting
any partner outlet for instant credit into the beneficiary account
maintained with ICICI Bank in India), an instant cross-border money
transfer option for non-resident Indians (NRIs).
 The service would be available through the ICICI Bank's select partners in
the Gulf countries

5.  Anil Ambani Group firm Reliance Power today said it has awarded a Rs
10,000 crore equipment order to GE Energy India for the expansion of its
2,400-MW gas-based power project at Samalkot, in Andhra Pradesh.
 GE will supply six frame 9FA gas turbines, 3 D-11 steam turbines and
generators for the power project under the contract.

6.  With double-digit revenue growth returning to the $60 billion Indian IT-
ITeS sector , top IT players, includingTCS and Infosys, are stepping up
their hiring plans for the next few quarters to meet the reviving demand
in the US and European markets.

7.  The state-owned Oil and Natural Gas Corporation's (ONGC) first ever 726
MW commercial power project would start generating electricity next
year.
 The ONGC's biggest power project is being commissioned in Palatana,
about 60 km south of here, at a cost of Rs 9,000 crore.

8.  Mystery shrouds the cause behind the suicide ofVodafone'sVice President
here with family members alleging he was blackmailed and under
tremendous pressure.
 Chandra Murli Iyer (47),Vice President ofVodafone was found hanging from
the ceiling with a rope around his neck at his residence inTrimurti Society
building in suburban Santacruz, the day when he had planned to visit his
family in Delhi.