Banking and Finance
Krushi bank may go in for liquidation
KRUSHI Co-Operative Urban Bank Ltd, the crisis-ridden Secunderabad-based bank, is likely to go in for liquidation since the other option suggested by the Reserve Bank of India -- merger with another urban co-operative bank -- is almost ruled out owing to
the bank's large liabilities, according to RBI sources here.
Corporate
Meet to discuss curbs on investment arms today
THE Government is to take up the issue of regulating investment firms or non-banking financial companies (NBFCs) floated by corporate houses, at the meeting of the high-level committee on capital markets (HLC) headed by the Governor of the Reserve Bank o
f India, Dr Bimal Jalan.
Economy
Economic slowdown temporary, says PM
THE Prime Minister, Mr Atal Bihari Vajpayee, on Wednesday said that the current economic slowdown was a ``temporary phenomenon'' and ``there is no need to get too worried on this score because the fundamental indicators of India's economy are quite stron
g.''
Economic slowdown -- Sinha to meet industrialists
THE Finance Minister, Mr Yashwant Sinha, is set to renew meetings with select representatives of certain industry sectors to firm up the measures that may be required to address the current sluggishness in industrial growth.
Freedom from want?
Slum-dwellers in Hyderabad also celebrated Independence Day. ``We are determined to ensure that the new economic policy becomes a promoter of social justice and that its benefits reach our brothers and sisters belonging to Dalit, Adivasi, backward, and m
ost backward sections of our society,'' the Prime Minister said in his address at Red Fort on Wednesday. Perhaps the Basti Awas Yojana will ensure proper housing to slum-dwellers in the days to come.
New job, housing schemes for rural sector
EVEN while declaring the coming year as the `Year of Implementation' and promising the constitution of a `Rapid Action Force' to monitor the implementation of existing poverty alleviation and employment generation programmes, the Prime Minister, Mr Atal
Bihari Vajpayee, used his customary Independence Day address today to announce a plethora of new ``ambitious'' welfare schemes.
`Comfortable' forex reserves questioned
EVEN as the Finance Minister, Mr Yashwant Sinha, had taken umbrage to the downgrading of India's rating by Standard & Poor's and subsequently by Moody's last week, financial analysts in certain official quarters point out that the single notch scale-down
by the international rating agencies was based purely on economic parameters ``without emotional attachments'' and, therefore, not unwarranted.
Fear not the slowdown: PM
THIS nation of 100 crore people, inheriting a five thousand year old civilisation, is today scripting an illustrious chapter in its history.
Environment
Eco-awareness
Unaware of the environmental hazards of plastic bags, school children litter the Red Fort area after the Independence Day celebrations in the Capital on Tuesday.
Greens to challenge BMIC project
THREE environmental groups have said they would challenge the environmental clearance given recently to the Bangalore Mysore Infrastructure Corridor (BMIC) project.
Health
Turning over a curry leaf
MINERAL prospectors in North Kanara have long believed that plants like `Karipatta', whose leaves (curry leaves) are used to flavour many South Indian dishes, can be good indicators for the presence of deposits of minerals, especially manganese.
Insurance
No legal curbs on entry into insurance, IRDA assures Nabard
THE Insurance Regulatory and Development Authority (IRDA) has assured the National Bank for Agriculture and Rural Development (Nabard) that there would be no legal or regulatory impediments for its proposed foray into the insurance sector.
PSU
Revised VRS package in place for Karnataka PSU employees
A REVISED and more attractive VRS package is now in place for employees of Karnataka's PSUs, and comes with added ex-gratia benefits.
Policy
Two more CEGAT benches moving to Mumbai
THE Finance Ministry has decided to shift two more benches of the Customs, Excise & Gold (Control) Appellate Tribunal (CEGAT) from Delhi to Mumbai.
Cabinet to take up insolvency law today
THE period of uncertainty might just get over for the doctors for sick companies, the Board for Industrial and Financial Reconstruction (BIFR) and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR), with the proposed law for inso
lvency expected to come up in the Cabinet on Thursday.
Power
Renewed debate over hydel projects in Kerala
THE recent brief ruckus over the long-forgotten Silent Valley project in Kerala has, in a way, helped turn the focus once again on the desirability, or otherwise, of more hydel projects in the State. More importantly, it has raked up the age-old debate o
ver the extent of the environmental cost that could be safely factored into the economics of development.
Electricity Bill to smoothen out rough edges
THAT the country's power sector reforms remained bogged down in controversies ever since the issue of counter-guarantee for private sector participation began in the 1990s is by now familiar to all, both domestic and foreign investors and analysts.
States
Bengali sweets industry keen to set up complex
EVEN as it eyes global markets, the Bengali sweets industry is keen on setting up a complex that will enhance skills in this cottage-based traditional industry.
Journalists fast in Chennai
Journalists of the print and visual media on a one-day fast in Chennai to protest against police excesses against them during the procession taken out by the DMK in the city on Sunday.
APMDC jt venture with 5 pvt cos
THE Andhra Pradesh Mineral Development Corporation (APMDC) has entered into a joint venture with five private companies separately for mining and sale of galaxy granite at Cheemakurthi Mandal of Prakasam district in the State.
CDS study urges Kerala Govt to set up investment board
A STUDY by the Centre for Development Studies (CDS) has urged the Kerala Government to set up a high-power investment board to clear investment proposals by non-resident Indians.
TN cotton council meeting today -- Waste-land development, seed production issues may figure
DEVELOPING waste land for cotton cultivation and enhancing certified seed production are the issues expected to figure prominently in the sixth Tamil Nadu State Cotton Council meeting slated to be held in Chennai on Thursday.
Stocks
JPC members take exception to sacking of CSE ED
A MAJORITY of the members of the Joint Parliamentary Committee has taken strong exception to two recent steps taken by the Calcutta Stock Exchange governing committee.
