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The US Export-Import (Exim) Bank has been expecting India to become the largest market for financing in the coming one and a half year.

US Exim Bank Chairman and President, Fred Hochberg said, “India is Exim Bank’s largest portfolio in Asia and second largest in the world, and the way it is going, it is anticipated that India would soon become the largest portfolio for the bank”.

The Singur land acquisition has taken a new turn as questions are being asked over the possibility of creating a land transfer code. It has come to light that the land which was acquired by the Supreme Court by using “emergency clause” is actually being use for an entirely different purpose.

It is believed that these activities by the court might bring conflict among the masses. The government has paid the farmers for the land; developers have paid the government to get this land and an unsuspecting group of people has paid the developers to book residential plots and premises.

Today, the insurance regulator IRDA has expressed the danger over the domination of pension market over the Life Insurance Corporation (LIC). It also said that the need of other insurance companies to take part in the pension market.

After Tata Docomo, India’s biggest telecom giant – Bharti Airtel increased its price for prepaid plan in six circles by 20%.

On Friday, Bharti announced increase of call rates and SMS charges by 20% for six circles including Delhi, Kerala and Gujarat. After Tata Docomo pioneered to increase its prices for two circles, Bharti become second company to increase its price.

Eighty Income tax officials raided the properties of two Malayalam superstars and Padma Shri award winners, Mammootty and Mohanlal.

The massive search began at 6 am, with officials simultaneously searching the business ventures and homes of the superstars in Chennai, Thiruvananthapuram and Kochi and is expected to continue till Saturday.

Wipro witnesses a net profit of 1.23% in the first quarter of the financial year that ended on June 30, 2011, amounting to Rs 1,334.9 crore. The Wipro expected stability in its rates of profit in the 2nd and 3rd quarter of the year; in comparison to the huge gains of its competitors like TCS and HCL Technologies.

One of the major IT companies Cognizant is determined to overtake Wipro as the third largest IT service provider in India. On the contrary, even the topmost IT companies like TCS and Infosys seem to be slipping from their charts.