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INDIA DAYBOOK: RBI Policy, Food Inflation, Jyothy Laboratories

March 17 (Bloomberg) -- India’s central bank may raise interest rates today, a Bloomberg News survey showed, after inflation accelerated last month.

The Reserve Bank of India may raise its repurchase rate by a quarter-percentage point to 6.75 percent, all 26 economists in the survey said. It may boost the reverse repurchase rate to 5.75 percent from 5.5 percent, according to 25 of 26 forecasts, with one predicting no change.

* 12:00 p.m. Reserve Bank of India to announce its review of
monetary policy.
* 12:00 p.m. Food articles wholesale price inflation.
* 12:00 p.m. Fuel, power, light wholesale price inflation.
* 12:00 p.m. Primary articles wholesale price inflation.

* A businessman and aide to the former Indian telecommunications
minister being questioned in jail over the 2008 award of mobile-
phone licenses, was found dead, two weeks before the first
charges in the case are due.

* The Dow Jones Industrial Average fell 2 percent.
* The MSCI Asia Pacific Index rose 0.8 percent.
* India’s benchmark stock index rose 1.1 percent.

* Cairn India Ltd (CAIR IN): Cairn Energy Plc is committed to
complete a deal allowing Vedanta Resources Plc to acquire a
stake in Cairn’s Indian unit by April 15, Chief Executive
Officer Bill Gammell said in New Delhi.
* Jyothy Laboratories Ltd. (JYL IN): Jyothy Laboratories Ltd. is
seeking to purchase Henkel AG’s 51 percent stake in an Indian
unit after acquiring a minority stake, according to a Jyothy
* SKS Microfinance Ltd. (SKSM IN): The company’s board decided
against a proposal for corporate debt recast and will explore
other options of fund raising from banks or financial
institutions, according to a statement on the Bombay Stock

* The Confederation of Indian Industry will host a Green
Manufacturing Summit in New Delhi.
* Ratan Tata will inaugurate the Institute of Ayurveda and
Integrative Medicine in Bangalore.
* Chakravarthy Rangarajan, chairman, Prime Minister’s Economic
Advisory Council and Home Minister P. Chidambaram will attend an
National Institute of Public Finance and Policy event in New
* Vinod Rai, Comptroller and Auditor General of India, will
attend MDI’s Annual Convocation in New Delhi.
* Pawan Goenka, president, automotive division, Mahindra &
Mahindra Ltd., will address a press briefing in Mumbai on the
acquisition of SsangYong.
* Shikha Sharma, managing director & chief executive officer,
Axis  Bank, and Sanjeev Aga, managing director, Idea Cellular,
will brief media in Mumbai on strategic initiative for financial
inclusion in India.
* CII will host Maharastra Annual Day function in Mumbai.
* GE Healthcare India will hold a press conference in Bangalore
to launch products.

* 2:30 p.m. England vs. West Indies.

To contact the reporters on this story:
Unni Krishnan in New Delhi at;
Anto Antony in New Delhi at

To contact the editor responsible for this story:
Sam Nagarajan at

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