The Oil Ministry has approved part sale of government's stake in Oil and Natural Gas Corporation (ONGC) as well as Indian Oil Corporation (IOC), a move that could fetch about Rs 24,000 crore for the Centre this fiscal.

Prime Minister Manmohan Singh Monday told the Indian industry to recognise that environmental concerns have come to stay although this has to be balanced with developmental needs.

The Bank for International Settlements (BIS) has said that inadequate regulation was one of the reasons for the sharp rise in private sector debt in many countries, prior to the global financial crisis.