The Hindu Business Line : Wednesday, June 19, 2002

Export growth rate set at 12 per cent
UNFAZED by the 0.08 per cent dip in export growth last year, the Commerce Ministry has plumped for a 12 per cent export growth in the inaugural year of the Tenth Plan (2002-07) in tune with the medium-term export strategy which aims at 11.8 per ... More

Fillip to NPA management -- Cabinet okays ordinance for asset reconstruction
MANAGEMENT of non-performing assets (NPAs) of the financial sector was put on fast track on Tuesday with the Union Cabinet approving the promulgation of an Ordinance to facilitate securitisation and reconstruction of financial assets. Besides ... More

Sinha to review lending rates with bank chiefs
THE lending rate structure of public sector banks would come under fresh scrutiny during the forthcoming meeting of the Finance Minister, Mr Yashwant Sinha, with the chiefs of the banks. The review would be done to assess the extent of banks' ... More

TCS may recruit 1,500 telecom consultants
TATA Consultancy Services (TCS) plans to recruit about 1,500 consultants for its Chennai centres in the next 12 months. Of this, 500-600 consultants would be for telecom services alone, the company's Executive Vice-President, Mr S. Mahalingam, ... More

Global cards can't be used for banned items: RBI
THE Reserve Bank of India (RBI) on Tuesday clarified that international credit cards cannot be used on the Internet or otherwise for the purchase of prohibited items, lottery tickets being one of them. These "prohibited items'' also include ... More

Tata Engg working on zero-defect sedan -- Roll-out likely later this year
CAR manufacturer Tata Engineering, whose sedan is waiting in the wings to be launched, has gone into overdrive to ensure that a zero-defect car rolls on the Indian roads later this year. Top company sources told Business Line that two ... More

3 Punjab PSUs put on fast-track sell-off list
THE Punjab Government has included Punjab Communications Ltd, Punjab Tractors Ltd and Punjab Alkalies & Chemicals Ltd in the select list of public sector enterprises that are to be put on a fast track for disinvestment. "The Punjab Cabinet has ... More

Long-term FCNR deposits turning too hot for banks
Many of them which had accepted FCNR deposits for three years in 2001 at Libor were now stuck with high-cost funds as global interest rates have crashed since then. In March 2001,the one-year Libor was around 6.50 per cent, which is as low as ... More

IOC net rises; to pay 110 pc
THE Indian Oil Corporation board on Tuesday recommended a dividend of 110 per cent for the financial year 2001-02 amounting to an outflow of Rs 857 crore. For the previous fiscal, the company declared a dividend of 95 per cent amounting to an ... More

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