Former Finance Minister P Chidambaram was sent to 14-day judicial custody in relation to the INC Media corruption case. Earlier today, Road Transport Minister reiterated the government's intention to push alternative fuel, but backed away from banning petrol, diesel cars. Read on for more headlines from the world of business and economy today:

"We should move towards alternative fuel... I am going to do this, whether you like it or not. And I am not going to ask you. I will bulldoze it. Petrol, diesel gaadi banane walo ka band bajaana hai," Gadkari said.

Former Finance Minister P Chidambaram, who will turn 74 on September 16, will spend his birthday in a prison cell at Tihar jail.

Gold is glittering like never before. The price of gold recently touched Rs 40,000 per 10 gramme. So, what are the reasons fuelling this rally? Find out on this BusinessToday.In infographic.

The heads of the 10 PSBs on the merger list met in Mumbai on Wednesday to discuss initial plans. The concerned banks have already formed teams at the level of general managers to ease the process of integrating products and processes.

The top three sectors that received maximum foreign funds are telecom, the services sector -- BFSI vertical, non-financial activities, outsourcing, R&D and courier services, among others -- and computer industry.