TCS is now India's most valued firm...

Tata group firm TCS on Wednesday replaced Mukesh Ambani-led Reliance Industries as the country’s most valued company in terms of market capitalisation, as investors supported TCS after it's results and rupee weakening.

At the end of Wednesday’s trade, Tata Consultancy Services (TCS)'s market value was Rs 2,48,116 crore, higher than Reliance Industries’ Rs 2,43,413 crore.

Today(May 3) is world press freedom day

The United Nations General Assembly declared 3 May to be World Press Freedom Day to raise awareness of the importance of freedom of the press and remind governments of their duty to respect and uphold the right to freedom of expression. It is also marking the anniversary of the Declaration of Windhoek, a statement of free press principles put together by African newspaper journalists in 1991.
UNESCO marks this day by awarding  UNESCO/Guillermo Cano World Press Freedom Prize for an individual from the press.
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Basel III to be implemented from January 1, 2013

The Reserve Bank of India (RBI),  issued the final guidelines for implementation of Basel III capital regulation in India, which would be effective from January 1, 2013, in a phased manner.

The Basel III capital ratios will be fully implemented on March 31, 2018.

Banks have to maintain Tier I capital, or core capital, of at least 7 per cent of their risk weighted assets on an ongoing basis.

Under the existing capital adequacy guidelines based on the Basel II framework, banks are required to maintain Tier I capital of at least 6 per cent of their risk weighted assets.

The total capital ratio, including Tier I and Tier II, must be at least 9 per cent, unchanged from the current requirement, the RBI said in a statement, compared with the Basel III minimum requirement of 8 per cent.

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Baburam Bhattarai to form new coalition government in Nepal

Prime Minister Baburam Bhattarai will dissolve his Cabinet and form a new coalition government that includes members of the main opposition parties in Nepal. The two main opposition parties Nepali Congress and the Communist Party of Nepal United Marxist Leninist negotiated with PM and confirmed that they would join the new government.
Mr. Bhattarai, deputy leader of the Communist Party of Nepal (Maoist), had formed the government last year with the support of some smaller political parties in Parliament.