SBI chairman and managing director G.G.Vaidya said the bank will issue certificates in denominations of 10 gm and 100 gm. A depositor will have to deposit a minimum of 200 gm.
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GIC to engage consultant for AMC
Mumbai: The General Insurance Corporation of India is engaging a consultant to prepare a restructuring plan for its subsidiary GIC Asset Management Company. The consultant is expected to prepare a plan to infuse equity capital, evolve a technology superstructure and devise a mechanism to leverage the parent’s branch network. GIC also intends to appoint a new chief executive officer of the asset management company as the present incumbent’s term ends in June 2000.
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LIC appoints Booz, Allen as advisors
New Delhi: Life Insurance Corporation of India has decided to appoint Booz, Allen & Hamilton to advise it on restructuring the company and to operate in a new environment. The global consultants have been given six months to prepare their report. LIC has also decided to appoint domestic consultants to help it implement the restructuring plan recommended by Booz, Allen and Hamilton.
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VSNL plans to expand net activities
Calcutta: International gateway services provider Videsh Sanchar Nigam Ltd has submitted a proposal to the Telecom Commission for expanding its internet services to all cities, where the company operates international exit points. The proposal is under active consideration of the department,

Disclosing VSNL’s plans, S.K. Gupta, chairman and managing director, said at present VSNL operates in Mumbai, Delhi, Chennai, Calcutta, Hyderabad and Pune. It wants to expand its activities to 22 cities, where the company has some sort of presence, such as earth stations and gateways.
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