Controversial film producer Kamal Khan has decided to file an application on Saturday in Bombay High Court against the ban of his film, Deshdrohi.

The Maharashtra government has banned the movie on Wednesday, as it claimed that that it would cause law and order problems in the state.

The government has banned the movie under Section 6 of the Bombay Cinema Regulation Act, 1963. The ban would be effective for two months.

Prime Minister Dr. Manmohan Singh expressed need for greater inclusivity in the international financial system to avoid failure of the world economy. Mr. Singh is going to attend G8 summit at Washington, called by US president, George W Bush, to discuss world credit crunch. The finance minister, Mr. P Chidambaram, deputy chairman of the Planning Commission, Mr. Montek Singh Ahluwalia and some other officials will also accompany Dr. Singh.

Hyundai Motor India Ltd is planning to launch a smaller car model than Santro in the Indian market. Senior Vice-President (Marketing and Sales) of Hyundai Motor India (HMIL), Arvind Saxena said that small car would hit the market in 2011. He said that the ongoing slowdown due to international crisis has adversely hit automobile industry across the globe but it has not impacted growth of Hyundai. The company has a huge export base and it is growing despite global financial crisis.

Reliance Industries (RIL) Chief, Mukesh Ambani, has become the richest Indian in the world with net worth of $20.8 billion. He displaced steel giant Lakshmi Mittal, according to the recent data of 40 richest people, compiled by Forbes magazine. India is left with 27 billionaires from 40 last year and its 40 richest people maintain net worth of $139 billion.

Leading railways equipment manufacturer, Bombardier Transportation, has decided to increase its presence in India. It would develop India as a metro car production hub for the Southeast Asian region, in the next 4-5 years. 

The company launched a new railway vehicle-making facility at Savli, Vadodara in Gujarat. It would produce stainless steel car bodies and bogies and carry out final assembly at Savli plant. It would start operation very soon, after orders of Delhi Metro Rail Corporation (DMRC).

The apex bank and central government are worried about slowdown in industrial growth following international financial crisis. More monetary steps are expected by RBI in coming days including revision of key interest rates. 

Global consultancy firm Dun and Bradstreet expects that Reserve Bank may cut CRR and Repo rate by 50 basis points to ensure proper money supply in country’s financial system. The central bank had already slashed Repo rate and CRR in its previous policy revision causing some stability in the monetary system.