The Hindu Business Line : Saturday, March 30, 2002

Annuities market thrown open to private insurers -- LIC loses exclusive preserve
IN a move that would facilitate future reforms in the pension market, the Government has permitted private insurance companies to provide annuities to beneficiaries of approved superannuation funds run by corporates. Corporates which run such ... More

Pvt players pull out of motor insurance
PRIVATE sector insurance companies have pulled out of the motor insurance sector in view of the deferral in the implementation of the new tariff policy. The policy was originally slated to have come into effect from April 1. It had hiked motor ... More

FDI approvals hit a nadir since 1995
FOREIGN direct investment (FDI) proposals approved during 2001-02 stand at Rs 17,489 crore, which is just 6.51 per cent of total FDI approved since 1991 amounting to Rs 2,68,300.52 crore. This is the lowest since 1995. The single largest FDI ... More

Ministry clears sops package for SEZ units
THE Finance Ministry has given its consent to extending a host of sops to special economic zones (SEZs) including service tax exemption and income-tax breaks. Any service rendered within the zone or to the developer will be exempt from the ... More

IDBI spurns offers for stake in banking arm
INDUSTRIAL Development Bank of India (IDBI) has categorically told foreign banks that have approached it for taking a stake in its banking subsidiary, IDBI Bank, that it would not cede control, at least not until its universal banking plans are ... More

Bata profit slips 90 pc
THE profit before tax (PBT) of Bata India Ltd for the year ended December 31, 2001, has plunged nearly 90 per cent to Rs 2.46 crore from the Rs 25.30 crore in 2000. Net profit dropped nearly 75 per cent at Rs 3.98 crore (Rs 15.60 crore). Net ... More

No letters please, we're couriers
HOW would you react if you were told that courier companies in India are not supposed to carry letters? And that's because they are not allowed to do so as per the provisions of the Indian Post Office Act, 1898. Then what do they carry? Only ... More