The Hindu Business Line : Sunday, March 31, 2002

GTB ousts 7 top officials
IN a significant development, as many as seven top-level officials of Global Trust Bank (GTB), including the Executive Director, Mr Sridhar Subasri, were relieved from their responsibilities with the GTB board holding them responsible for the ... More

Govt cuts SDS to 9 pc; PF rate reduction on anvil
IN a precursor to a reduction in the return on deposits under the Employees Provident Fund (EPF) scheme, the Finance Ministry on Saturday decided to effect a 50 basis points cut in the interest paid on the Special Deposit Scheme (SDS). The SDS ... More

BSNL cuts ISD rates
BHARAT Sanchar Nigam Ltd (BSNL) has announced a downward revision in ISD call charges for its subscribers, in line with the recommendations of the Telecom Regulatory Authority of India (TRAI). According to a company statement, from April 1 ... More

Forex reserves cross $53 b
THE RBI's forex kitty is bulging week after week. The net increase in reserves in the week ended March 22, is $1.13 billion, probably the largest-ever inflow in one week. The total reserves rose to $53.317 billion for the week ended March 22, as ... More

India Seeds to pick up 74 pc in HLL arm
HINDUSTAN Lever Ltd (HLL) today announced that the Mauritius-based India Seeds Holdings Ltd (ISHL) would acquire a 74 per cent stake in its subsidiary, Paras Extra Growth Seeds Ltd (PEGSL) as part of a joint venture agreement. The capital base ... More

Haldia Petro pays Rs 100 cr to lenders
HALDIA Petrochemicals Ltd (HPL) has paid nearly Rs 100 crore to banks and FIs to avoid becoming a non-performing asset, sources said. HPL has a debt burden of more than Rs 3,500 crore. These repayments had fallen due since October 2001 and the ... More

All eyes on Exim policy
The exporters' demands centre around the retention of the Duty Entitlement Passbook Scheme (DEPB), which is supposed to end on Saturday as announced in this year's Exim policy. However, official sources admit that speculation is rife about the contin uan ce of this scheme for some more time with or without riders. More

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