Airlines
Jet Airways flight launch delayed
NEW DELHI:A new Jet Airways service linking Delhi with Ludhiana, which was scheduled to be launched on September 2, has been postponed due to non-receipt of requisite approvals.
Banking and Finance
PFs, trusts can hold G-secs in demat form
PROVIDENT funds, trusts and other retail investors can now hold Government securities in dematerialised form, following the Finance Ministry's decision to permit such a facility for non-Subsidiary General Ledger (SGL) account-holders.
OBC, PSB cut deposit rates
ORIENTAL Bank of Commerce (OBC) and Punjab and Sind Bank (PSB) have announced reduction in deposit rates.
Good response to SBI fund drive in Gulf
BANKS in West Asian and South East Asian markets have responded favourably to State Bank of India's schemes to raise funds overseas for premier Indian institutions and the bank is currently receiving positive feedback for its roadshows to promote its new
assignment to raise the equivalent of $100 million in Japanese yen for the Housing Development and Finance Corporation of India, according to a senior bank official.
Capital adequacy ratio -- RBI probing NBFCs' arrangement with banks
THE Reserve Bank of India is probing cases where banks have been helping non-banking finance companies (NBFCs) to meet the RBI stipulations on capital adequacy ratio (CAR) requirements only at the time of reporting and not maintaining the CAR throughout,
RBI sources said.
IFCI hopeful of Rs 600-cr capital infusion by Oct
IFCI Ltd is in advanced talks with its institutional shareholders to finalise modalities for the infusion of Rs 600 crore capital as part of the Rs 1,000 crore recapitalisation package cleared by the Government earlier.
LVB to raise Tier-II Bonds in pvt placement
IN a bid to support accelerated asset expansion as also enhance its capital adequacy ratio (CAR), the Karur-based Lakshmi Vilas Bank (LVB) is raising Tier-II Bonds in private placement.
Corporate
Zee to take on Big Mac with idlis
MR Subhash Chandra of the Zee Group plans to take the field with idlis and sambhar to match McDonald's burgers through its family entertainment centres, to begin with.
Radhakrishna Hospitality gets ISO 9001
MUMBAI: Radhakrishna Hospitality Services Ltd, a joint venture with Compass Group Plc, UK, has been awarded the ISO 9001 by Bureau Veritas Quality International, London.
Economy
Pre-shipment inspection snags may hit exports to Bangladesh
AN exporter of dry fish to Bangladesh has drawn the attention of Federation of Indian Export Organisations (FIEO), eastern region to the differences in c.i.f. value given in the provisional certificate and the CRF (Clean Report Findings) Certificate, as
assessed by Inspectorate Griffith (IG) of Bangladesh.
Foreign Trade
To prevent flooding of Chinese goods -- India wants rules of origin clause in treaty with Nepal
THE Commerce Ministry is trying to include a clause in the Indo-Nepal treaty to strengthen the rules of origin regime. This is to prevent indiscriminate movement of Chinese goods through Nepal into India, according to Mr R. Gopalan, Joint Secretary, Comm
erce Ministry.
Gearing up to fight the Chinese dragon
CONVENING in the time of slowdown means deliberating on how to get over the economic impasse. Specially the Chinese dragon that looms large over Indian industry and threatens its very existence.
Miscellaneous
CIE tests for students
BANGALORE, Sept 2 CAMBRIDGE International Examinations (CIE), the International Assessment Division of the University of Cambridge, UK and Schoolnet India Ltd have announced the launch of diagnostic testing services called Checkpoint, in India.
Policy
A ray of hope for the urban poor, courtesy PM
TEN years through reforms and the Government is still unsure as to whether the benefits have percolated down to all sections of the society, especially the poor. Data on this score collated by various private organisations have time and again revealed th
at, over the years, the ``trickle down'' effect has simply not worked.
Air safety top priority
The new Civil Aviation Minister, Mr Syed Shanawaz Hussain, on assuming office on Sunday, said the Government would soon finalise the details of a new aviation policy. Mr Hussain said the thrust of the policy would be on air safety.
Foodgrain subsidy, allocation to be based on utilisation -- States given 3 months to identify BPL families
IN an effort to increase the offtake of foodgrains by the States, the Government has issued the Public Distribution System (Control) Order, 2001, under the Essential Commodities Act, which makes it mandatory for them to identify the families below the po
verty line (BPL) within three months and plug all loopholes in the PDS.
Power
Power distribution reforms in Karnataka -- Consultants told to revise interim report
THE Karnataka Government has differed with the interim report of the consultants on reforming the electricity distribution sector in the State.
FINER opposes hike in demand charges by ASEB
THE Federation of Industries and Commerce of North-Eastern Region (FINER) has strongly opposed the recent hike in demand charges imposed by the Assam State Electricity Board (ASEB) and decided to take its next course of action after a meeting of all the
important associations of the region.
Shipping
NMP registers increase in traffic throughput
NEW Mangalore Port (NMP) has registered a traffic throughput of 71.99 lakh tonnes during the first five months of the current financial year compared to 70.68 lakh tonnes during the corresponding period last year.
States
Calibrated, digital taxi meter project launched in Kolkata
CENTRAL Electro Vation Pvt Ltd, a little-known company engaged in high-tech innovations, has set up calibrated, digital taxi meter project here in Kolkata at a nominal investment of Rs 15 lakh.
Karnataka: Governing panel of KCCI elected
MANGALORE: The governing committee of the Kanara Chamber of Commerce and Industry (KCCI) for the year 2001-2002 was elected at the chamber's sixtieth annual general meeting held here on August 30.
VRS for farm labourers in Maharashtra
Retrenchment and voluntary retirement scheme (VRS) are no longer the buzzwords of the corporate world. The State Government's agriculture department recently retrenched a workforce over 7000-strong, comprising farm labourers employed on the farms of thr
ee State agriculture universities.
Stocks
DSE union alleges foul play in funds transfer -- Seeks SEBI intervention
THE Delhi Stock Exchange Karmachari Union (DSEKU) has alleged that the audit committee of the exchange has okayed illegal transfer of funds from the capital assets funds to the general reserves in this year's annual accounts. It has sought the interventi
on of the Securities and Exchange Board of India (SEBI) to take necessary action.
`Regional SEs must adopt to changes'
AT a time when members of the regional exchanges are at the cross-roads due to reduced volumes in the cash markets across the country, it is imperative that they quickly learn the ``tricks'' of trading in the derivatives market, according to the former P
resident of the Bombay Stock Exchange, Mr Bhagirat B. Merchant.
`Cabinet revamp won't bait the markets'
THE changes in the Union Cabinet are likely to leave the stock markets unimpressed, say equity market experts.
Telecommunications
DoT asks Bharti to clear dues in cash
THE Bharti group's plans of rolling out fresh telecom services -- national long distance, basic and cellular -- have run into rough weather, with the Department of Telecommunications (DoT) stipulating payment of all pending dues (amounting to over Rs 600
crore with interest) in cash, failing which further licences will not be issued.
`Convergence Bill passage by Aug next'
THE Communications Convergence Bill, 2001 is likely to be enacted by August 15, 2002 at the latest, according to the new Union Minister for Communications, Mr Pramod Mahajan.
Water Management
AP: 200-cr water supply scheme
HYDERABAD: The Minister for Panchayat Raj, Mr P. Srinivasa Reddy, has said that under sectoral reforms, protected water supply schemes costing Rs 200 crore are being implemented in 1875 villages facing the problem of fluoride and salinity in water.
