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Government-supported banks in the UK need to increase their targets for credit availability in 2010. This is in accordance with the lending targets set up in the budget.

The figure, suggest experts, will be more than £80bn. It is higher than what was decided during last year.

Yet, the step has been seen as a victory for the banks since the company repayments have not been included in the target calculations.

Most of the companies are paying back their debts and this should be not be included as part of the capital.

The Office for National Statistics said today that the inflation rate in UK declined to 3% in the month of February. The inflation rate fell more than the estimates of market analysts and also reported low compared to the figures of January. The inflation rate was reported of 3.5% in the month of January. This was the first decline in inflation rate since September last year.

Maruti Suzuki, on Tuesday, said that it has become the first automobile company in the country to be able to sell a million cars in a year. Maruti Suzuki is the largest automobile making company in India.

It also said that it would be investing Rs. 17 billion in its Manesar plants. This is being done to expand the capacity so that it is able to produce 2.5 lakh cars every year. After the investment, the plant will be producing 550,000 more cars every year in two years time, said the company.

Cairn Energy has increased its estimates from the Indian operations. The UK-based energy company said on Tuesday that it can generate more output from its Rajasthan unit.

The place, the company said, has more reserves than what was earlier estimated. It has raised its estimates from 3.7 billion barrels of oil equivalent (boe) to 4 billion boe.

Part of the Eicher Group, Royal Enfield has announced the roll out of its latest version of bikes. Known as the Electra Twinspark, this bike would be having spark Unit Construction Engine (UCE).

With the new bike, the company is trying to provide to its customers a more modernized version of its Royal Enfield coupled with performance and fuel-efficiency.

Said the company in its press statement that the new bike will help the company reach to the next level while maintaining the old characters of Royal Enfield.

Kings XI Punjab led by skipper Kumar Sangakkara will play against Shane Warne’s Rajasthan Royals in the cash rich and lucrative Indian premier League (IPL-3) at PCA stadium in Mohali on Wednesday.

Punjab and Rajasthan have not performed well in the tournament as both have won only one match out of four matches.  The team who will lose this match will be placed at the bottom of the points table.