Fresh attack in Kashmir to affect bourses
New Delhi: Indian shares are poised for a weak opening today, shaken by a renewed militant attack in Kashmir which could raise the risk of aggravating border tensions, brokers said.

There is a lot of uncertainty and the fresh attacks are unlikely to help the situation, said Ravi Gopalakrishnan, a fund manager with Sun F&C Asset Management. Early today, two militants raided a police camp in Kashmir killing three policemen and wounding several others, in the latest round violence that has pushed India and Pakistan to the brink of war.
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CTV brands now target lower-end market
Mumbai: The major multinational brands in the colour television market, the likes of LG, Samsung and Sony, have begun an aggressive top down marketing approach since the beginning of the year in order to increase volumes in the Indian market.
These companies have begun plugging holes in the Rs 20,000-crore market, addressing all price points by launching a wide range of models in all the product categories.
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Sinha asks taxmen to tighten their belts
New Delhi: Signalling tough times for tax evaders, individuals, as well as corporates, Finance Minister Yashwant Sinha has urged the officials of the Central Board of Direct Taxes to tighten their belts, as he wont tolerate a shortfall in direct tax mop up for the third year in a row.

Asking taxmen to go beyond the one-by-six (1/6) scheme, to improve their intelligence gathering and to shun their reluctance to search houses and premises of tax evaders, the FM said: One thing that I will hate to see happen this year is a shortfall in direct tax collection.
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RBI asks banks to offer money-changing facilities
Mumbai: The RBI is pushing the state-run banks to develop a franchisee network for offering money changing (forex conversion) facilities to customers during off-business hours of these banks, at reasonable rates.

Even as banks and authorised dealers are allowed to appoint agents or franchisees for undertaking money changing activities, banks have not done it so far. The RBI wants that banks do this to provide easier currency conversion facilities for travellers and tourists by enlarging their networks, RBI officials said.
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Its time to disclose your unpaid dividends
New Delhi: The Indian corporate sector will soon have to adhere to more demanding balance sheet disclosures. The DCA has decided to bring under the public eye transfers made by companies to Rs 500-crore investor protection fund, each year.
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ABN Amro pursuing M&A proposals
Mumbai: ABN Amro Bank, which, following its acquisition of the Bank of America retail book, has been growing organically, has said that it will acquire a local bank, should the opportunity present itself.
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UCO Bank net profit up 400%
Mumbai: UCO Bank has posted a growth of 400% in its net profit at Rs 164 crore in 2001-2002. The profit was just Rs 33 crore previous year. Operating profit grew by more than 122% at Rs 476 crore in 2001-02 against Rs 214 crore in 2000-01.
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BoMs profit vaults 222% on lower wage bill
Mumbai: The Bank of Maharashtra has registered a 221.7% increase in net profit for the year ended March 31, 2002. The bank's net profit zoomed to Rs 145.4 crore as against Rs 45.2 crore in the previous year on total income of Rs 2,305.6 crore.
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BoP net rises 42% to Rs 58 crore
Chandigarh: The Bank of Punjab has reported a 41.9% growth in profits in 02 to Rs 57.9 crore as against Rs 40.8 crore in 01. The bank declared its financial results for the year ended March 31, 02.
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War expenses factored in Budget: Sinha
New Delhi: Finance Minister Yashwant Sinha has admitted to some pressure on the expenditure front due to the troop mobilisation on the Indo-Pak border, but maintained that this was factored in the budget estimates.
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Govt plans search-and-seize steps for tax evaders
New Delhi: The Finance Ministry has decided to proceed with a slew of tough measures including stepping up searches, scrutiny and seizures as well as tracking ownership of bank lockers to shore up tax revenues.
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Foreign shareholding in India Inc slides
New Delhi: Foreigners find Indian corporate assets just that bit less attractive now than they did a year ago. They own fewer shares and their holdings are also worth less than a year ago.
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Strategic partner free to use reserves of divested PSUs
New Delhi: Strategic partners are free to utilise cash reserves of public sector units (PSUs) that have been privatised including investment in other companies provided the decision is ratified by the board under the provisions of the Companies Act.
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Monsoon sets in ahead of schedule
Thiruvananthapuram: The southwest monsoon has been formally declared set in over southern Kerala with heavy to very heavy rainfall having been recorded in almost all southern districts in the State.
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