A survey carried out by the Federation of Indian Chambers of Commerce and Industry has specified that it is the select service sector segments, which have recorded a 10-20 per cent growth during April to November this year, while the country’s manufacturing sector had to experience a low ride.

It will come as a relief to those, who have to travel regularly by air and were frustrated by paying high fares time and time again, since it was announced by Kingfisher Airlines chairman Vijay Mallya that his airlines would cut fares by 1st January. Though he did not quantify the cut, sources confirm that it would be between 10% and 15%. So overall, the fares could further drop between Rs 500 and Rs 1,000. There had been reduction of fuel surcharge by Rs 400 during the last month.

It has recently been revealed by the bankers that the Reserve Bank of India (RBI) is likely to cut the lending rate for the banks in the scene where inflation is declining even below the RBI’s comfort levels. It would even reduce the amount the banks need to keep with it anytime from now to support the demand.

On Saturday, the website of State Bank of India (SBI), was shut down due to an attempted attack by the hackers.

It was confirmed by a senior bank official, “There has been an attempt to disrupt the system.” However he did not give out any further details. The bank’s sites www.statebankofindia.com and www.sbi.co.in were down on Saturday, but its internet banking site www.onlinesbi.com was operational.

It was confirmed by the officials in the late evening, “The bank was targeting to get its website operational by 9.00pm.”

After witnessing several rounds of delays, the government has finally agreed to the bids for the Tilaiya ultra mega power project, which would be held today at Jharkhand. It should be noted here that earlier the dates for the bids for the fourth ultra mega power project has been pushed back at least five times through 2008.

The country’s leading private air-carrier, Kingfisher Airlines, has decided to cut fares across its network from January 1.

The fare-cut is expected to be in the range of 12–15%. However, the company did not specify the quantum by which fares would come down.

It may be noted that Civil aviation minister Praful Patel had repeatedly asked the airlines to pass on the benefit of sharp a drop in ATF prices to passengers.

For the last four months, a dramatic fall in ATF prices has been noticed.