THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Monday, November 13, 2000

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Page One

Profits tax: LIC, new cos may be treated alike
THE Finance Ministry is set to accord uniform tax treatment to profits made in the life insurance business by all players -- be it the new private sector entrants or the Life Insurance Corporation (LIC), hitherto the sole player.

Indian Bank VRS from Nov 27
THE voluntary retirement scheme (VRS) for Indian Bank employees will open on November 27 and will be operational for one month, according to a bank release.

IOC, RPL going for loan syndication
MAJOR Indian issuers, Indian Oil Corporation (IOC) Reliance Petroleum Ltd (RPL) and the Power Finance Corporation (PFC), are planning to enter the overseas loan syndication market for commercial borrowings.

Stiff targets for weak banks under revamp package
THE restructuring package for the three weak public sector banks would for the first time set out stiff physical targets to be achieved by them against the financial support to be extended by the Government. The physical targets would be in addition to t he financial targets to be set for the banks.

Plan to let States enter debt markets directly
THE Reserve Bank of India has initiated a proposal with State Governments for their direct entry into the financial markets for meeting their borrowing requirements.


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