The Hindu Business Line : Wednesday, April 30, 2003

India could land one million jobs from offshoring
TWO million jobs will move offshore, from the world's 100 largest financial services companies over the next five years, according to a survey by Deloitte Research. Of these, India could well account for one million new positions from offshored ... More

RBI drops Bank Rate — Jalan prescription looks at growth
IN a firm resolve to flag off growth, the Reserve Bank of India today dropped Bank Rate to 6 per cent from 6.25 per cent. Further changes in Bank Rate are ruled out till October. The Cash Reserve Ratio has also been cut to 4.50 per cent, ... More

Lead banks may lower rates
BANKS are expected to drop lending and deposit rates in response to the cut in Bank Rate from 6.25 per cent to 6 per cent. Unlike last time when the RBI cut the Bank Rate in October 2002, banks are now more inclined to follow the central bank's ... More

Cabinet nod for airports Bill
THE Union Cabinet today approved the withdrawal of the Airports Authority of India Bill 2000 and approved the introduction of a comprehensive amendment to the Airports Authority of India Act 1994. Official sources said that the Amendment to the ... More

Cos Bill cleared
THE Union Cabinet has cleared the Companies (Amendment) Bill 2003, which seeks to define auditor-company relationship and prescribe stiffer penalties for non-compliance. This paves the way for the repeal of the Companies Act, 1956, and the ... More

Govt drops plan to convert IFCI into commercial bank
THE reluctance of Reserve Bank of India (RBI) to further clutter the banking sector has forced the Government to decide against converting IFCI Ltd into a commercial bank. The possibility of turning the financial institution into a bank had come ... More

Tata Chem net up 55 pc on higher sales
TATA Chemicals Ltd (TCL) on Tuesday reported a 55.13 per cent rise in profit after tax for the year ended March 31, 2003, to Rs 196.74 crore as against the previous corresponding Rs 126.82 crore. The net sales/income from operations was up by ... More

Not exiting, says Britannia's Alagh
QUASHING market talk of an imminent departure from the driver's seat at Britannia Industries Ltd (BIL), the Chief Executive Officer, Mr Sunil Alagh, has said that he is "very much in control". However, he is going on a month-long leave beginning ... More

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