The Hindu Business Line : Friday, January 10, 2003

RIL strikes gas off Gujarat
RELIANCE Industries Ltd (RIL) has struck gas in its offshore exploration in Gujarat, according to a senior company official. The discovery comes on the heels of its recent mega strike of seven trillion cubic feet reserves in the Krishna Godavari ... More

Dual citizenship for people of Indian origin
THE Prime Minister, Mr Atal Bihari Vajpayee, today announced a provision for dual citizenship for People of Indian Origin (PIO) living in certain countries. According to news agencies, dual citizenship, which would be voluntary, would be ... More

TRAI tells Bharti to provide link to Tatas
`Ensure completion of calls originating in Tata Tele network and terminating in your network with immediate effect.' More

RBI asks small NBFCs to shut shop
NON-BANKING finance companies (NBFCs) with net owned funds of less than Rs 25 lakh as on January 9, 2003, must stop carrying on business with immediate effect, the Reserve Bank of India announced today. Contravention of this RBI directive will ... More

SBI lowers deposit rates
STATE Bank of India has lowered interest rates on domestic term deposits by 25 basis points in some maturities effective January 13. The new rates on deposits with a maturity of one year to less than two years has been reduced to 5.75 per cent ... More

Cabinet okays serious frauds office proposal
THE Cabinet on Thursday approved the setting up of a Serious Frauds Investigation Office (SFIO), an agency for investigating corporate frauds including cheating of shareholders, depositors and investors. The SFIO may also cover institutions like ... More

Jaswant to discuss VAT with States
THE Union Cabinet has authorised the Union Finance Minister, Mr Jaswant Singh, to negotiate with the States, the rate of compensation for any possible revenue loss due to the introduction of value-added tax (VAT) from April 1, 2003. "The final ... More

Emigrants don't need I-T clearance
EMIGRANTS leaving the country will no longer be required to obtain a tax clearance certificate from the income tax authorities and furnish the same to the airlines. According to a Finance Ministry release, the requirement for producing a tax ... More

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