Corporate | Bayer CropScience halts work at fire-hit unit

Corporate | Bayer CropScience halts work at fire-hit unit

Mumbai: Bayer CropSciences Ltd, the Indian subsidiary of German pharma and agrochemicals giant Bayer AG,has suspended manufacturing operations at its factory in Ankaleshwar in Gujarat, after local authorities on Friday asked it to halt work following an 11 March fire at a storage tank at the site.

The firm said in a statement it is working closely with the authorities and is seeking to resume normal production as early as feasible. It has sufficient stocks of key products manufactured at the unit, adding that no major interruption of product supply to its customers is foreseen at this time.

— C.H. Unnikrishnan

Govt plans to boost capital at 13 banks

Mumbai: India will boost capital in 13 state-run banks, finance secretary Ashok Chawla said in Mumbai on Friday. He also said the government and the central bank didn’t discuss any proposal to raise the limit for overseas investors in government bonds.

— Bloomberg