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VAT: States given option on rice, grains for 1 year
STATES have now been given an option to keep rice and other foodgrains out of the value-added tax (VAT) net instead of at 4 per cent as originally proposed, when the new tax system replacing sales tax comes into force from April 1. But the new ...
Roadmap for FDI in private banks Doubts over annual creeping acquisition proposal
The mandatory divestment clause proposed by the RBI in its draft ownership norms is likely to be dropped.
ICICI Bank net rises 18 pc in third quarter
A ROBUST growth in retail loans coupled with higher net interest income helped ICICI Bank to record an 18 per cent jump in net profit at Rs 517.68 crore for the third quarter ended December 31, 2004, against a net profit of Rs 440.10 crore in the ...
ICICI Bank: In line with expectations
ICICI Bank's performance, of an 18 per cent growth in profits, in the third quarter of fiscal 2005 is in line with expectations and the credit expansion seen during the past year. Its nearest competitors in the private bank sector, HDFC Bank ...
UTI Bank plans GDR listing in March
UTI Bank plans to go in for a global depository receipts (GDR) listing of 4.65 crore shares on the London Stock Exchange by March. Its board of directors on Monday approved the proposal to raise further tier-I capital, in one or more tranches, ...
Separate content regulator likely for TV
OBSCENITY and violence in television shows are a cause for concern. The Information and Broadcasting (I&B) Ministry is planning to set up a separate regulator to monitor content on television channels. According to top Government sources, ...
Sensex gains 20 pts on a day of sudden swings
THE bourses witnessed an extremely choppy trading session today and though the benchmark indices closed in the green, it was after a day of sudden swings. The markets opened marginally strong but slipped into the red soon after. Buying frenzy ...
BG to invest $250 m more in Panna-Mukta, Tapti oilfields
BG (formerly British Gas) is investing afresh in the Panna-Mukta and Tapti oilfields to increase the production of natural gas. The multinational gas major, which has invested $500 million (around Rs 2,200 crore) in the fields till now, is a ...
Readymade garment exports up
Exports to the US, the single biggest market for Indian garments, amounted to 311.8 million pieces valued at $1,589.6 million.
When tsunami struck, they had no cover
SELVAM, one of the affluent fishermen of Nagapattinam, has been reduced to penury. His deep-sea trawlers are damaged beyond repair and grounded by the Tsunami that struck on December 26, 2004. He pointed to some vessels lying close to the ...
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