Smooth drive for cars on excise driveway
IT'S perhaps going to be a smooth ride for domestic carmakers, with the Kelkar panel on indirect taxes backing their case for a cut in excise duties from 32 per cent to 16 per cent. As a general principle, the panel has proposed a 4 per cent ...
Interest boosts SBI net
INCREASE in interest and non-interest income helped State Bank of India (SBI) report a 34 per cent rise in net profit to Rs 835.20 crore for the quarter ended September 30,2002, as compared to Rs 622.26 in the corresponding period in the previous ...
Phaneesh sets Silicon City abuzz
THE Silicon City is abuzz with Phaneesh Murthy talk. A clutch of venture capitalists planning fresh investments in the service sector were seen in talks with him over the last few days, according to industry sources. But the exact role which Mr ...
Jalan hints at changes in rural branch licensing
THE Reserve Bank of India will soon revisit its policy on bank branches in rural areas, with the eventual aim of completely liberalising branch licensing norms. Already a lot of liberalisation has happened in this area. What is now left is the ...
Govt queers Samsung tele equipment plan
KOREAN electronics giant, Samsung Electronics Company Ltd's plan to take up wholesale trading of telecom equipment in India has been put on hold by the Government. The decision to put a brake on the plans follows the company's inability to ...
IDBI net up; beats forecast
A CONCERTED effort by the Industrial Development Bank of India (IDBI) to reduce its operating expenditure has yielded stunning results. Belying financial analysts' expectations, the development financial institution has posted a 355 per cent rise ...
BoI cuts PLR, deposit rates
BANK of India today cut its prime-lending rate (PLR) along with its deposit rates by 50 basis points. The PLR on advances has been cut by 0.50 per cent to 11.50 per cent from 12 per cent per annum. The prime term lending rate has been reduced ...
No sale of Centaur, just share transfer: Batra
MR A.L. Batra, promoter of Batra Hospitality Pvt Ltd, has given to the Disinvestment Ministry details of the resale of Centaur Hotel Airport in Mumbai to Sahara India Group, a deal that has sparked off a major controversy. In his submission to ...
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