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Mumbai, July 15  : The Reserve Bank of India (RBI) Monday said it has penalised 22 banks, including the State Bank of India and Punjab National Bank, for violation of know your customer (KYC) norms and money laundering.

The central bank said it had penalised the banks after carrying out scrutiny of books of accounts, internal control, compliance systems and processes of the banks.

The country's largest lender, State Bank of India, has been fined Rs. 3 crore. The penalty on Punjab National Bank is Rs. 2.5 crore.

Hanoi, July 15 : Vietnam exported a staggering 85,000 tonnes of pepper, worth $554 million in the first six months of this year, making the country the world's top pepper exporter, according to Vietnam's General Statistics Office Monday.

The figures posted a year-on-year increase of 22.2 percent in volume and 17.3 percent in value, despite the average pepper export price falling over 4 percent to stand at $6,554 per tonne.

The US and Germany were the largest importers of Vietnamese pepper during the reviewed period, accounting for 33 percent of the country's total export value, reported Xinhua.

Depreciation in the value of rupee pushed India's headline inflation higher in June, a recent poll by Reuters indicated.

According to the poll of twenty-five economists, the country's key inflation measure, wholesale price Index, jumped an annual 4.9 per cent last month. In May, the index was recorded at 4.7 per cent, which was the lowest level in more than three years.

Shares of government-run oil marketing companies (OMCs) enjoyed considerable gains in early trade on Monday, after the companies announced the fourth increase in petrol prices in six weeks.

Indian Oil Corporation, HPCL and BPCL on Sunday announced their decision to hike petrol prices by Rs 1.55 per litre, saying the falling value of rupee made imports of oil costlier.

The actual increase in petrol prices varies from city to city, depending on local taxes. The new rates took effect from Sunday midnight.

Mumbai, July 15 - A benchmark index of Indian equities markets was trading flat at 0.03 percent or 5.64 points up during the afternoon session Monday.

Some positive buying was observed in healthcare, capital goods, consumer durbales and fast moving consumer goods (FMCG) sectors. However, selling pressure was seen in metal and banking index (bankex).

Continental has said that it is planning to invest between $4.5 million to $5 million for building a new office and warehouse centre for tis business.

The company, which has a humble beginning as a small bakery and catering firm, will move to the nearby Southbrook business park after building a 10,000 square metre facility that would include a destination café. The company will retain its Percival St, Rangiora, bakery and also rebuild its management contracts located around Canterbury.