Bharti kicks off national long-distance telephony
BHARTI Telesonic, a Bharti Televentures subsidiary, on Monday launched the country's first private sector national long-distance (NLD) telephony service, taking on Bharat Sanchar Nigam Ltd (BSNL).

Cell-to-cell rates set to drop?
THE launch of the IndiaOne national long-distance (NLD) service is likely to result in a drastic reduction in mobile-to-mobile STD call rates - to as low as Rs 20 per minute - if various cellular operators sign up with Bharti.

FIPB panel to monitor foreign equity changes
THE Foreign Investment Promotion Board (FIPB) is setting up a high-powered committee to look into all cases of ex-post facto approvals sought by companies for increasing foreign equity stake.

Four firms, one issue
THE Mumbai-based GL Hotels Ltd had sought ex-post facto approval for acquisition of 8,77,047 equity shares (12.5 per cent of the paid-up capital) of Rs 10 each at a premium of Rs 147.50 per share, amounting to $3 million, by the US-based Inter-Continenta l Hotel Corporation (IHC).

Loan defaulters, mend your ways
DEFAULTERS beware! Bankers can now disclose the names of defaulting borrowers having inserted a broadcast clause, while extending fresh loans or reworking old loans. RBI in its April 2001 credit policy had advised banks to put in the clause effective Sep tember 30, 2001.

Rs 2,000-crore recap likely for Indian Bank
THE Government is working on a proposal for a Rs 2,000-crore recapitalisation package for Indian Bank within the current fiscal. Indian Bank is likely to be the only bank to receive Government capital support during the year.

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