News Update: Angel Broking: March 16, 2011

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Economic and Political News
„ RBI submits draft guidelines on new banking licenses to Finance Ministry
„ GST Constitution Amendment Bill gets Cabinet’s approval
„ Government mulling scrapping of Press Note 1 to encourage FDI

Corporate News
„ SAIL to file papers for FPO in May 2011
„ M&M commits `800cr towards SsangYong R&D
„ Oil firms hike jet fuel prices by 6%