Tata Motors may launch its ambitious small car Nano, the cheapest car of world, on March 3, the day of birth anniversary of Tata Group founder, Jamsetji Tata.

Its first recipient may be a celebrity from business world, political class, film industry or social sector.

The booking for much awaited small car would start from the end of February, with an amount of around Rs 70,000. However, the official spokesperson of Tata Group declined to disclose any details and said, "We have not announced an official date or any marketing plans so far."

Infosys Technologies, the second largest services firm of country by revenue, would take tough stance against poor performers. With 2,200 of its employees already been put under scanner for non-performance, things may be tough for the current staff.

However, the company ruled out any lay-offs and said that it wouldtake other measures to cut costs and increase business efficiency.

Indian banks can now avail forex swap facility until the end of the financial year 2009/10 as the reserve Bank of India has approved its extension and increased the interest rate ceiling on foreign currency export credit with immediate effect. The move would help to mitigate the credit problem in the midst of tight liquidity conditions.

Tata Motor's payments to some vendors are getting delayed, showing the tough situations being faced by India's top bus and truck maker, under the impact of global slowdown.

Ravi Kant, the managing director of company, said, "Yes, there is a delay... there would be a delay. I'm telling you we are in a difficult situation... the whole industry are."

However, he declined to disclose the quantum of outstanding dues that may be more than 12 billion rupees ($245 million), according to reports published in media.

The United States Food and Drug Administration (U.S. FDA) has approved commercial marketing and distribution of cheap version of Lithium Carbonate capsules, manufactured by Glenmark Generics Inc (GGI), the US subsidiary of Glenmark Generics, in the US market. The company said, in a media release, that it would soon start marketing of capsules in 150 mg, 300 mg and 600 mg range.
 

The association of IT-BPO industry, NASSCOM has revised the growth projections of software and service exports to 16-17% for the financial year 2008-09 at $47 billion as compared to its earlier estimates of $50 billion. The body said that demand in the segment declined under the impact of global slowdown that led it to revise its revenue growth targets.