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The much-awaited movie, Mani Ratnam's Raavana will not be screened in the upcoming 11th India International Film Academy (IIFA) awards.

This announcement was made by Mani Ratnam as he strictly stood with his point that the event which is to happen in Sri Lanka will not get to see the movie.

The reason he gave was that the movie is not yet complete. He was speaking to the media on the sidelines of the inaugural event organized by NAAM, a voluntary organization.

Abhishek Bachchan and Aishwarya Rai are playing the lead roles in the movie.

Rating agency, Crisil said that the Indian banks may see a fall in their asset quality. This will, it said, be followed by an increase in the collective gross non-performing assets (NPAs) of the banks.

In its latest research report published, it said that the NPA ratio is expected to increase to 3.6 per cent during 2010-11. This will be higher than 2.3 per cent that they had in 2008-09.

On Tuesday, the telecom regulator, Telecom Regulatory Authority of India (TRAI) said that it has recommended the ending of restrictions on companies that want to sell out.

This, TRAI said, will bring about consolidation in the Indian telecom market, which is one of the fastest growing in the world.

The current regulations do not allow companies to sell majority stake in the first three years period of their license. These are applicable to the ongoing auctioning of the 3G spectrum as well.

Nationa

In what could cost India's biggest mining group $1.34 billion, Vedanata has agreed to but the mines of Anglo American. The mines deal with zinc and are situated in the countries of Namibia, South Africa and Ireland.

The company, which recently got listed on the London Stock Exchange is trying to expand its global footprints and the buying of mines is a part of that plan.

Federal investigating authorities are now looking into Faisal Shahzad case seriously. Faisal Shahzad is the person who was involved in the Times Square bomb blast and has been arrested later. But it has been suspected that he was about to hijack the plane. He has managed to enter a Dubai-bound plane at the JFK airport before he was caught minutes before it took off. This has been clarified by the officials at the White House.