(Image: The seeds have been sown, the crops have been nurtured by way of the powerful inflationary instances but when the time to harvest got here, the floods of recession washed away the anticipated bounty. Cost and revenue assumptions made during the good occasions have thus gone for a toss. On the subject of mortgage disbursements, real property is presently the black sheep of the family. Non-public Banks from which loans had been freely obtainable earlier have dried up.

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Reliance Industries plans to promote a few 10% stake in Reliance Retail to monetary buyers and nearly all of the $5.7 billion value of shares have been taken up, the folks said. Mr Ambani is providing to promote a roughly $20 billion stake in the retail business to the U.S. 40 per cent holding.

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