Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

Daiichi Sankyo says it was misled over Ranbaxy U.S. probes

Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, said it believes unnamed former shareholders of the company hid information regarding U.S. regulatory probes into Ranbaxy.  Full Article 

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Repo window won't turn surplus even if govt spends all balance: RBI

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MUMBAI | Wed Jan 30, 2013 4:02pm IST

MUMBAI (Reuters) - The Reserve Bank of India's daily liquidity adjustment facility will not turn into surplus even if the government spends all its surplus cash balance, executive director Deepak Mohanty said on Wednesday.

Mohanty was speaking to analysts a day after the central bank cut its key repo rate and banks' cash reserve ration by 25 basis points each.

On Wednesday, banks borrowed 1.04 trillion rupees from the RBI's repo window, significantly higher than its comfort level of deficit.

(Reporting by Shamik Paul)
Economy
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