IRDA bid to end motor tariff portfolio standoff
New Delhi: Under intense pressure from the transport industry, the Insurance Regulatory and Development Authority has stepped in to restore order in the motor insurance business.
Back to News Review index page  
HC quashes CBDT order on tax relief to Mauritius FIIs
New Delhi: In a major setback for the finance ministry, the Delhi High Court has quashed the controversial circular issued by the Central Board of Direct Taxes two years ago exempting Mauritius-based Foreign Institutional Investors (FIIs) from paying tax relief.
Back to News Review index page  
Shourie surprised over PSUs holding huge reserves
New Delhi: Disinvestment Minister Arun Shourie expressed his surprise over the huge accumulation of cash reserves in PSUs without having them deployed in profitable ventures in a fast-changing global technology.
Back to News Review index page  
FIPB wants RBI to scrutinise four firms under FEMA
New Delhi: The Foreign Investment Promotion Board has ordered investigations into four cases of possible violations of the Foreign Exchange Management Act. FIPB has directed the Secretariat for Industrial Assistance to take up the issue.
Back to News Review index page  
Naik says India has enough petro product reserves
New Delhi: In the backdrop of the threat of a war in the subcontinent, Petroleum Minister Ram Naik has said there are enough petro product supplies to face any eventuality.
Back to News Review index page  
State Bank of Mysore net profit rises 156%
Bangalore: State Bank of Mysore has seen its net profits rise by a whopping 156.2 per cent to touch Rs 65.9 crore as against Rs 25.7 crore for the financial year 2000-01.
Back to News Review index page  
ED chargesheets six ITC ex-officials under Fera
New Delhi: The enforcement directorate has chargesheeted six former ITC officials for alleged violation of the Foreign Exchange Regulation Act, but discharged four others, including former chairmen Jagdish Narain Sapru and Krishen Lal Chugh and former executive director Saurabh Mishra.
Back to News Review index page  
Oil marketing companies to defer payment
New Delhi: With the government withholding permission for a hike in retail prices of petroleum products, oil-marketing companies have decided to adopt a deferred payment mechanism for petroleum products they are buying from refining outfits.
Back to News Review index page  

Jaimini Bhagwati deputed to World Bank
Mumbai: Dr JAIMINI Bhagwati, joint secretary, Capital Markets and External Commercial Borrowings, a division in the finance ministry, is set to head the Market Risk Group in the Corporate Finance Department of the World Bank.
Back to News Review index page  
Sinha calls off visit to US
New Delhi: The simmering tension on the Indo-Pak border has forced Finance Minister Yashwant Sinha to cancel his visit to Stanford University in the US.
Back to News Review index page  
Several Somasundara Mills workers accept VRS
Chennai: The wrangle over the modified voluntary retirement scheme of the Somasundara Mills, the sick textile unit under the National Textiles Corporation (NTC), took a surprising turn, with a majority of the 600-odd workers accepting the scheme.
Back to News Review index page  
DCA allows remote board meets
New Delhi: The Department of Company Affairs has in-principle decided to allow board meetings through video conferencing and tele-conferencing. But the provision would come with a caveat, DCA has said.
Back to News Review index page  
Executive search company plans web foray
Chennai: Lobo Management Consultants, a Chennai-based executive search and HR consultancy firm, plans to create a big ticket internet recruitment website based in the US involving an outright investment of $1 million in just the first phase.
Back to News Review index page  

ICICI Bank, VSNL firm on fund buying
Mumbai: Even as the controversy between the Ministry of Telecommunications and the Tatas rages, the share price of VSNL has remained firm. Dealers said the firmness in the counter was mainly due to the entry of the stock into NSEs S&P CNX Nifty.
Back to News Review index page