The Hindu Business Line : Saturday, June 08, 2002

Indian promoters of pvt banks can hold 49 pc
THE Reserve Bank of India today raised the ceiling for Indian promoters' equity holding in private sector banks to 49 per cent, providing them level playing field with foreign investors. Until now, Indian promoters of new banks could hold only ... More

BoI to cut 5,000 more jobs -- Second VRS in another 3 months
BANK of India proposes to cut another 5,000 jobs in the next three months through a second VRS. An official said the bank would prune its staff by 12 per cent. In the last VRS a year ago, the bank reduced staff strength by around 7,000. Bank of ... More

Panic withdrawals from select branches -- GTB sees foul play; to seek RBI action
SUSPECTING foul play behind the latest panic withdrawals, the management of Global Trust Bank (GTB) has decided to approach the Reserve Bank of India (RBI) seeking action against entities allegedly resorting to the unethical practice of ... More

Tatas may relent on VSNL investment row -- `Final decision today'
THE week-long spat between the Union Communications Minister and Videsh Sanchar Nigam Ltd. (VSNL) is finally drawing to a close, with top officials of the Tata group assuring Mr Pramod Mahajan that they may reconsider the decision to invest Rs ... More

Seamen's PF board seeks relief package
THE Board of Trustees of Seamen's Provident Fund Organisation (SPFO) has forwarded three proposals to the Union Government for compensating the fund to the tune of Rs 93 crore, which was lost in the recent gilts scam. At a special meeting held ... More

Aussie miner plans to invest $10 m in gold exploration
THE renowned Australian gold miner, Mr Charles Devenish, has finalised plans for a big-ticket entry into the Indian mining sector, with an initial investment of $10 million through the Mauritius route for exploration, prospecting and mining of ... More

Bankers wary of creating customer profiles
THE next time you want to open a bank account, do not be surprised if the manager asks you your grandmother's name. He may just be doing what he has been told — "know your customer". Banks have already been advised by the Reserve Bank of ... More

Tata Infotech net down 45 pc in fourth quarter
TATA Infotech Ltd has reported a 45 per cent decline in net profit, at Rs 6.92 crore (Rs 12.58 crore) for the quarter ended March 31, 2002. The company reported a 22.7 per cent decline in net profit at Rs 20.5 crore (Rs 26.54 crore) for the ... More

Freight on imported crude likely to go up
FREIGHT on imported crude is expected to go up following the imposition of additional war-risk premium by marine insurers on foreign ships calling on ports on the western coast. Currently, over 50 per cent of the imported crude is carried by ... More

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