The Hindu Business Line : Tuesday, January 10, 2006

RBI readies draft scheme for Federal, Ganesh Bank merger
THE Kerala-based Federal Bank has made an offer to take over Ganesh Bank of Kurundwad Ltd, which was placed under a moratorium by the RBI on Saturday. Based on the Federal Bank's offer, the RBI has prepared a draft scheme of amalgamation and ... More

An organised bailout
BANKS should not be allowed to fail — since the interests of many depositors are at stake. In their role as custodians of public wealth, they have to retain public confidence. Bank collapses therefore are anathema to regulators the world ... More

India Inc makes a pitch for fiscal, R&D sops — Lower direct tax burden; scrap or simplify FBT
"Our submission was that FBT should be abolished. If that is not possible, it should at least be simplified and genuine business expenses must be allowed as deduction," said Mr N. Srinivasan, Vice-President, FICCI. More

Rupee moves up to 3-month high
THE rupee surged against the dollar moving to a three-month high, tracking the global movement of other major currencies. The domestic currency opened higher by 25 paise at 44.31/33 from Friday's close of 44.5760. It touched an intra-day high ... More

Maruti hikes prices by up to Rs 15,000
MARUTI Udyog Ltd (MUL) today hiked the prices of its vehicles across all models between Rs 1,500 and Rs 15,000. The increase in price will be effective from today, the company said in a statement. The price rise was due to increase in input ... More

ICICI Bank ropes in Shah Rukh Khan
ICICI Bank has once again decided to resort to the celebrity endorsement route to promote its brand. Almost two-and-a-half years since superstar Amitabh Bachchan endorsed the brand, the company has signed up Shah Rukh Khan as its global ... More

Tata Interactive buys two firms in Europe
E-LEARNING company Tata Interactive Systems, a division of Tata Industries, has acquired two companies in Europe - Tertial Edusoft AG in Switzerland and Tertia Edusoft GmbH in Germany. These companies have been acquired from the ... More

Polaris advised to focus on legacy modernisation
POLARIS Software has said that management consulting firm McKinsey & Co has validated its intellectual property (IP)-based business model and has advised the company to stay focussed on the legacy modernisation services, where one sees big growth More

FIPB defers decision on Bharti merger
THE Foreign Investment Promotion Board (FIPB) has deferred a decision on allowing Bharti Tele-Ventures Ltd (BTVL) to merge all its companies and become the operating arm for the purpose of being governed by the provisions of automatic route for ... More

Strong rupee, weak Reliance pull Sensex down
THE markets, which opened for the week on a subdued note, succumbed to the cause of the bears. Concerns on the appreciating rupee and decline in Reliance pulled the markets into the red. Frontline stocks in the IT sector registered sharp ... More

Respite from cold likely for now, fog tipped to return
Frost prevailing over parts of Punjab, Haryana, Rajasthan and Uttar Pradesh is tipped to continue through the next 24 hours and dissipate with fog settling in. More